Laikipia County has entered into partnership with a public university to offer training to its staff as it projects to float a Sh1.4 billion bond in the stock market to fund infrastructure upgrade.
Dedan Kimathi University of Technology (DeKUT) in Nyeri is currently training 136 staff on project management so as to be able to efficiently channel the resources towards the development of roads and dams in the area.
DeKUT Vice Chancellor Prof Ndirangu Kioni said they are training the staff to ensure that the borrowed money will be spent in accordance with the intended projects.
“Currently, we are privileged to enrol 136 staff of Laikipia County government on the new project management programme to rebuild their capacity on implementing projects. Success of every bond depends on the effective implementation by the staff involved,” Kioni said.
The bond is expected to fund the grading of roads in urban areas, installing street lighting, constructing dams, and beautification towns under the Smart Town Initiative.
This will be realised if it gets requisite regulatory approval from the National Treasury, National Assembly, Commission on Revenue Allocation (CRA), and Capital Markets Authority (CMA) and Intergovernmental Budget and Economic Council (IBEC).
“We are empowering the staff and enhancing their efficiency as they intend to utilize the funds.By doing this, the intended transformation of the county will be realized. This should be emulated by other counties and public institutions,” Kioni said.
Kioni was speaking during a Webinar meeting on Laikipia Infrastructure Bond-expected economic impact. Governor Ndiritu Muriithi said that the bond is expected to spur economic growth in the county.
“The bond is an investment opportunity for business people, infrastructure is an enabler, and when we are investing in bond is to enable businesses to benefit and this goes hand in hand with the county stimulus programme,” Muriithi said.
The governor further said that the payment of the bond will come from the projects which will be funded.
“The payment of the bond is expected from our projects cash flow 100 per cent, we have put a lot of effort to assess this project,” he said
The County Executive Member for Finance and Economic Planning Murungi Ndai said that the bond is geared towards attracting investment growth in Laikipia.
“We are committed in supporting agriculture and triple production through provision of sustainable water for production and domestic use, upgrade our shopping centres under the Smart Town Initiative, support enterprises and exploit natural resources for economic growth,” Ndai said.
Deputy Governor John Mwaniki assured the youth that the bond would create more job opportunities and there will be no need to go out of the county to seek employment.
“The bond will be traded on stock exchange, through the infrastructure development it will open the market hence creating more job opportunities and the youths will not have to travel to capital to look for opportunities,” Mwaniki noted.
The bond is expected to fund the smart town projects at Doldol, Wiyumirire, Pesi, Kalalu, Kimanjo, Matanya, Naibor, Karunga, Olmoran and Oljabet trading centres.
By Muturi Mwangi and Martin Munyi