The County Government of Nakuru has assured the business community that it is supporting policies and legislation that facilitate a stable, predictable and conducive environment for businesses and investments to thrive.
Chief Officer for External Resource Mobilisation Dr Victor Achoka said they were actively engaged in public and private sector partnerships that will shape practical and responsive policies and legislation towards providing a business-friendly environment.
This, Dr Achoka said, will result in improved infrastructure, streamlined regulations, fostered innovation, and a lower cost of doing business.
He said counties are integral to Kenya’s development and are a focal point in attracting investors; hence, the need for devolved units to introduce incentives such as tax breaks and streamlined licensing processes for specific industries and enact laws or policies designed to reduce bureaucratic hurdles for businesses.
“Governor Susan Kihika’s administration remains committed to policies that support enterprise development and economic sustainability. For the economy to thrive, there is a need for robust cooperation between the national and county governments to lower the cost of doing business,” stated the chief officer.
Dr Achoka made the remarks when he hosted a delegation of over 50 representatives from startups and well-established enterprises that deliberated on key issues revolving around taxation, licensing, business regulations and opportunities for public-private partnerships to support economic growth in Nakuru County.
“The forum provided a platform to network, connect, unwind and share experiences and breakthroughs. It also created space for constructive reflection on the general challenges facing entrepreneurs, while encouraging peer learning and collaboration within the business community,” stated the Chief Officer.
He affirmed that the county administration was making deliberate efforts to create an enabling business environment, citing key initiatives such as the Unified Business Permit, which has simplified regulatory processes for investors.
Achoka also singled out the recently launched Wezesha Biashara Fund, worth Sh130 million, aimed at supporting Micro, Small, and Medium Enterprises (MSMEs) and cooperatives across the county.
He added that Nakuru offers significant opportunities in vital sectors such as agriculture, manufacturing, transport (logistics), housing, hospitality, tourism and infrastructure development, among others.
He noted that economic survey findings by various institutions show Nakuru is fast rising to become the most preferred investment destination for local and international investors. “It is projected that the county has an economic potential worth Sh200 billion in agricultural value addition, manufacturing, geothermal exploration, tourism, and real estate,” he stated.
Results of a previous survey released by the Institute of Economic Affairs showed it is easier to start a business in Nakuru town compared to five other populous urban areas.
Economists attributed this mainly to the reduced tax burden that has made it more attractive to investors. The study gave the county an overall score of 89 percent in the tax sub-cluster, followed by Eldoret (78) and Machakos (67).
Towards boosting the county’s industrial growth, Dr Achoka said Governor Kihika’s administration is working closely with the national government to establish two industrial parks that are expected to completely transform the devolved unit’s fortunes as the preferred investment destination.
The proposed agro-industrial park in Njoro, which will be located at Ngongongeri farm owned by Egerton University, which has allocated the project 200 acres of land, will be the second in the region after the establishment of the Naivasha Economic Zone.
Achoka emphasised the County Government’s commitment to receive suggestions and act on stakeholder feedback, noting that investors in the agriculture sector have immense opportunities in value addition and processing for maize, oil crops, pyrethrum, potatoes, horticulture, grains, dairy and wool.
“Our doors remain open to the business community. We value their input in building a thriving and inclusive economic environment,” he said.
According to Dr Achoka, geothermal power generation at the Menengai Crater is also an economic opportunity that should be harnessed for agricultural industries.
He indicated that the geothermal steam wells at the crater have a capacity of 105 megawatts with the potential to attract easy ‘green’ funding for new investments, while the Lanet Airport that is under construction targets the direct export of produce to Europe and other global markets.
With its abundant natural resources, good infrastructure, strategic location and reliable supply of skilled labour, he noted that Nakuru County is a huge untapped goldmine and game-changer whose time to mainstream into the national socio-economic fabric cannot wait any longer.
The Chief Officer stated that there were also numerous investment opportunities for both local and international investors in Nakuru in the environment and waste management, renewable energy, agribusiness, infrastructure, real estate and information technology-enabled services sectors.
Dr Achoka pointed out that attracting and retaining investments entailed businesses partnering with the county government to enhance development through building infrastructure, restoration of natural resources and offering productive jobs in order to raise the living standards for every resident throughout the devolved unit.
By Jane Ngugi
