admin_county November 21, 2019

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.