Investors have been asked to take advantage of the immense investment opportunities that exist in Northern Kenya, a move which will open up the area and contribute to the ongoing peace building processes.
A feasibility study on peace-positive investment in the three counties of Elgeyo Marakwet, Mandera and Marsabit in Northern Kenya revealed the areas are endowed with abundant natural and artificial resource production potential, including agriculture, livestock, fisheries, trade, infrastructure, storage and transport, renewable energy, services, manufacturing, mining and tourism, vast open land optimal for large-scale irrigation and agribusiness opportunities.
The Research released in Nairobi by international peacebuilding organisation- Interpeace has identified entry-points for peace-positive investment in Northern Kenya’s frontier markets, revealing major opportunities that can unlock the region’s economic potential and narrow the development gap between these historically marginalised counties and other regions of Kenya.
State Department for Devolution Principal Secretary Ms Teresia Mbaika said that a huge array of untapped resources can be unlocked by sustainable public–private investment partnerships which can effectively mitigate social and conflict risks, creating a cycle of stability, fostering self-reliance, and building long-term prosperity.
She noted that peace-responsive investments can help to address drivers of conflict in the regions, reduce the underlying causes, and strengthen social cohesion, which ultimately will help to reduce risk and make the investments more sustainable in the long run.
The PS said that these counties are also strategically located, bordering Somalia and Ethiopia, providing vast cross border market opportunities.
According to Ms Mbaika, the success of Peace Finance required a multi-faceted strategy that incorporates peace and climate-responsive measures, incorporating key ethnic groups, political leaders, security agencies, marginalised community members, formal and informal community networks and local elites.
She highlighted that international development partners should also support the integration of peacebuilding into investment to help unlock capital markets for greater investment in infrastructure financing.
“A nexus exists between peace, development and investment. Without peace, there cannot be development and without development, there can be no peace. Through peace positive investments, it is possible to transform Northern Kenya into a progressive peace investment region,” she said.
Ms Mbaika was speaking during a multi-stakeholder event titled “Exploring Peace-Positive Investment Opportunities in Northern Kenya” organised by Interpeace.
The conference aimed to catalyse discussion and a collective approach of how investment in Kenya should be shaped in order to be peace-aligned, taking Northern Kenya as an example.
The event was attended by representatives from financial institutions, multilaterals, embassies, Kenyan Government representatives, international foundations, and civil society organisations.
Ambassador Amina Mohammed, Member of the Interpeace Governing Board, highlighted the importance of inclusive investment strategies, noting that by integrating peace efforts into investment frameworks, the counties can mitigate risks, enhance returns, and contribute significantly to a peaceful and prosperous Northern Kenya.
She said the impact of conflict in northern Kenya was deeply intertwined with the region’s underdevelopment noting that prolonged conflicts have significantly affected livelihoods, wellbeing and economic progress of the region.
Livestock production and agriculture in Mandera and Marsabit present notable peace-positive investment potential, while in Marsabit, there is significant opportunity to invest in large infrastructure projects in a more peace positive approach as there are existing and planned investments in water management and energy.
The fisheries sector, particularly around Lake Turkana, offers significant peace-positive investment potential, with investments needed in cold chain facilities, fish landing sites, and market outlets to reduce post-harvest losses and improve socio-economic conditions.
By Rebecca Kibegwa and Phanice Imbiakha
