News Categories: Business

21 Nov
By: NGPU 0

PROJECTS FINANCING

By Nancy Naholi

As city status beckons, Nakuru municipality has earned a major uplift following the county assembly adopting the city status report by the ad-hoc committee.

The administration is putting in place plans and projects that show it is “city-ready” by sourcing for new initiatives to enable project financing.

The devolved unit under the leadership of H.E Governor Lee Kinyanjui is looking forward to participating in the Kenya Cities Forum which is constituted by 5 cities, 3 existing Nairobi, Mombasa Kisumu and 2 earmarked cities Nakuru and Eldoret on project financing where Nakuru will be pitching projects on housing and integrated solid waste management.

The department of Land Housing and Physical Planning and the Department of Finance and Economic planning is leading in the lobbying process of pitching the proposals from Nakuru to attract potential investors.

“The project on housing looks forward to having the densification of Kimathi and Flamingo estate which will provide upgraded affordable housing and commercial units under a joint venture partnership on 30-acre county land.

“We expected to provide a new stock of housing as well a variety of commercial outlets, resilient urban infrastructure such as stormwater drains, paved roads, non-motorized traffic paved ways and street lighting, “Chief Officer Land Housing and Physical Planning JudyLeah Waihenya informed her officers.

This will leverage smart building solutions to ensure sustainable energy and environmental controls. The use of alternative construction materials will give an opportunity for investors to locally put up material plants for the production of the approved components for the construction process.

The administration is expecting to attract global lenders including USAID, KENSUP and LATIF, KISIP and KUSP under the World Bank which has continued to offer the support necessary to bridge the gap between exchequer and actual requirements of projects implementation.

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12 Nov
By: NGPU 0

NAKURU HUNTS TO BE REINSTATED AS AN INDUSTRIAL CITY

BY NANCY NAHOLI AND MERCY KIHUGU

Nakuru county has continued to offer a conducive environment to attract potential investors to invest in the county.

The administration’s determination under the leadership of H.E Governor Lee Kinyanjui to restore the county’s status as an industrial hub has so far seen the signing of an agreement between Maximum Agri International and Oserian Development Company to set up Oserian Two Lakes Industrial park which shows the milestones that can be achieved.

The Oserian Two Lakes Industrial park will complement the Mai-Mahiu industrial park which has attracted local and foreign investors who have expressed interest in setting up shops at the park.

Lord Egerton Agri-City one among the key projects being implemented is situated in Ngongongeri farm, has already been finalized and is looking forward to establishing a food processing plant that will add value to the agricultural produce.

The agro-industrial park will provide an opportunity for leasing of land and essential services such as water, electric supply, and necessary infrastructure.

The development of the two projects came after the first Nakuru International Investors Conference ( NIICO) that was held in Naivasha in November 2018 begun to bear fruits with many investors expressing their interests to set up companies in the county.

The administration is looking forward to holding its second International Investors Conference.

Other projects the devolved unit is looking forward to being established in the county are the Kengen Textile City Park and the Kabarak University Smart City.

“Several investors present during the conference expressed their interests and capabilities to set up their base in various parts of the county alluding that Nakuru has had the capabilities of providing a convenient location for logistics as a way of pursuing more investors,” Said the Governor.

He further uttered that policies should be put in place to promote the competitiveness of local industries, encourage value addition and diversity of locally manufactured products.

According to the recent review on the GDP by the Kenya National Bureau of Statistics (KNBS), Nakuru is the second leading county in terms of the economy after Nairobi ahead of other capital cities Mombasa and Kisumu.

Mr. Kinyanjui said the county’s 6 percent contribution to the economy is likely to increase due to the ongoing and other planned industrial developments that are anticipated to boost the county’s economy and create more employment opportunities.

Nakuru is centrally located and is therefore accessible from the other corners of the country which makes it an industrial destination.

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