The County Government of Nakuru is using its potential in geothermal energy, agriculture and real estate to strengthen its investment strategies and market itself as the ideal investment destination in the region.
County Executive Committee Member (CECM) for Trade, Tourism, and Cooperatives Stephen Muiruri regretted that Nakuru County was a huge untapped goldmine despite its abundant natural resources, good infrastructure, strategic location and reliable supply of skilled labour, adding that if well exploited, the County would become a favourable destination for both local and international investors.
He said various studies had confirmed that Nakuru County had the most friendly tax regime in the country, coupled with good governance, which he said were ingredients for an ideal investment destination.
The CECM made the remarks during an induction session organised by the Nakuru County Investment Board (NCIB) that focused on strengthening investment strategies and fostering economic growth within the devolved unit.
The CECM said the highlights of the session involved a review of the NCIB budget and an in-depth discussion on investment opportunities across different departments.
Muiruri stated that there were also numerous investment opportunities for both local and international investors in the environment and waste management, renewable energy, agribusiness, infrastructure, real estate and information technology-enabled services sectors.
“The county is seeking significant uptake in opportunities in the agriculture, apparel and textiles, leather, property and logistics sectors,” added the CECM.
He emphasised the need for prudent budget utilisation to create an enabling environment for investors and reiterated that the board’s strategic role is to align investment policies with Nakuru’s development agenda, attract sustainable investments, and unlock economic potential across various sectors.
The CECM pledged that Governor Susan Kihika’s administration had embarked on various plans to boost the region’s attractiveness to investors, starting with reforms in the tax regime through harmonisation of fees and elimination of non-tariff barriers to trade.
He said they were reviewing a multiplicity of levies and taxes that are affecting the devolved unit’s intra-county and inter-county trade, thereby discouraging investments while raising prices for the end consumer.
The CECM said Nakuru, which is regarded as a key food basket in Rift Valley, also seeks to lure investors to its vibrant agricultural sector to add value to its products and gain direct sales of its farm produce to foreign markets, including East African countries.
The county is one of the leading producers of potatoes, carrots, milk and vegetables, among other crops, added Muiruri.
“We are taking deliberate steps to reduce the cost of doing business and position Nakuru as an essential destination for local and foreign investments,” stated the county official.
The CECM said as a county government, they were committed to actively pursuing interventions that will make Nakuru the economic powerhouse of the region, thereby making it the destination of choice where trade and investment thrive, in addition to pursuing active partnerships to unlock its full potential.
He added that traders across Kenya were set to benefit from easier business operations with the implementation of the County Licensing (Uniform Procedures) Act, 2024, which he said was aimed at standardising licensing procedures across all 47 counties, eliminating the current inconsistencies and bureaucratic hurdles that often hinder business growth.
The State Department for Investment Promotion (SDIP), in collaboration with the Council of Governors (COG) and key stakeholders, is developing comprehensive regulations and guidelines for the effective implementation of the Act.
Muiruri pointed out that the successful implementation of the County Licensing (Uniform Procedures) Act, 2024, will be a crucial step towards creating a more business-friendly environment in Kenya and unlocking the country’s economic potential.
He affirmed that the new legislation was targeted to improve the working environment for businesspeople and traders at the county level by creating an equal and efficient means of paying for licenses across all counties.
The Chairman of the Nakuru County Investment Board, Mr. Martin Kariuki, underscored the importance of fostering investor confidence through transparency, efficiency, and strategic partnerships and urged the board to focus on high-impact investments that will drive job creation, innovation, and inclusive economic growth.
By Esther Mwangi and Nicole Nduuti
