As Frank Mutura stepped out of the gate of the Standard Gauge Railway (SGR) Voi Station, I was energized as I looked at the 86-year-old Diaspora University Town (DUT) founder. As I welcomed him to Voi, I was taken back to the time the late Prof. Raphael Njoroge and I drove 1,100 km from Worcester, MA, to Raleigh, NC, to a meeting organized by Frank Mutura. This was the first time I met Frank. The discussion at the meeting then was: “Can Diaspora Kenyans become developers and founders of a 3,000-acre university and town?”
Then, a 3,000-acre parcel of land in Kwale County was put on the market, and we felt that the university town development plan we had established could be implemented. The plan included a university modeled after WPI's plan. The Diaspora Kenyans' role would be to develop townhouses and support the opening of micro, small, and medium enterprises (MSMEs).
Now, many years later, when walking down the stairs from the SGR, Frank, looking at the many lights shining in the night in front of our eyes, asked, “Is that Voi?” I reply that indeed all those lights were residents of Voi. Frank remarked that there are many residents and said, “Voi residents should join us to create jobs for their children.”
The drive from the Voi SGR station, over rough, bumpy roads, informed Frank, the road specialist who has been building high-quality roads in the U.S. for 25 years, of the condition of Kenya's roads. He remarked that a lot of work is needed to achieve good roads in Voi and in Kenya.
The discussion that followed established that Voi has about 300 km of road network and that, if built, could provide residents with good roads. Regarding how the Diaspora University will help achieve this, I state that once the first class joins Diaspora University, one of the first projects undertaken by the students will be on the 300 km Voi roads.
Based on his road construction expertise and 25 years’ experience in the U.S. road construction sector, Frank estimated that the Voi 300 Km road network could be fully constructed in 5 years. Regarding funding, I inform Frank that once the Diaspora University opens and implements the WPI university project-based learning approach, the students will establish a funding system similar to how Americans fund their town and city roads.
The following day, we stopped at KCB so Frank could open a bank account. We got to talk with Benson Mutie, the KCB Bank Voi Branch Manager. Frank informed the bank manager that, after relocating to the U.S. at 60, he found a job and the bank approved a $130,000 mortgage loan for his house in North Carolina. He informed the bank manager that over the years, his house has appreciated in value and that he has refinanced the property to raise money to join other Diaspora Kenyans in buying 125 acres in North Carolina, where they are building houses.
The KCB bank manager appreciated the effort Frank Mutura and others have put in founding Diaspora University Town (DUT). Discussing loans for Voi residents who want to join DUT, the bank manager said the bank is ready to offer loans through its loan products. The manager added that those working in government institutions don’t need to have opened bank accounts to be issued loans by the bank.
Based on the 2,000 townhouse developer opportunities, if Voi residents took loans, this would grow the bank loan portfolio by Ksh 1.5 billion and finance DUT's 20,000 job creation plan. The Bank would also have laid the foundation for financing the completed houses through the Kenya Mortgage Refinance Company (KMRC) product, of which KCB Bank is one of 27 primary mortgage lenders.
KMRC is similar to the U.S. Fannie Mae and Freddie Mac. The two U.S mortgage refinance institutions have financed over $7.5 trillion in mortgages. The KMRC portfolio will grow as houses are produced and financed.
Mutura said the job in the U.S and the good mortgage product enabled him to own a house and live in good housing for the last 25 years in a city with a clean, healthy environment. He estimated that once he sells the house in North Carolina, he will cash out about $200,000 after his mortgage is paid in full.
Later, Mutura spoke to Voi business persons and residents to encourage them to join DUT and create jobs. He was further invited to St Jude Education Center, where he talked to students and encouraged them to study hard so they could join the Diaspora University and, thereafter, build Kenya. When Mutura asked the students to guess his age, the highest guess was 78 years. One student guessed that Mutura, who is 86, was 72.
