KISUMU: The thriving construction boom in the real estate sector in Kisumu County has earned it good reputation in the latest World Banks survey rankings on doing business in Western Kenya.
The World Bank's 2016 survey reveals that in Kisumu it takes the fastest time to obtain construction permit unlike in Migori, Homa Bay and other surrounding counties. And in Uasin Gishu it also took less time to venture into a new business.
On Friday, the County governor Jack Ranguma and Deputy Ruth Odinga expressed happiness with the World banks' latest rankings.
"I am impressed that our concerted efforts to restore peace and security in Kisumu have paid off and Kisumu is now ranked as Kenya's most investor friendly by World Bank," said Ranguma.
Kisumu is currently on the path to economic resilience after it shed off the recent anti-IEBC protest in the town that almost disrupted the smooth and free flow of trade in its shopping district.
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Ranguma claimed that since he ascended into office in 2013, he has struggled to tone down political temperatures in Kisumu.
"My main worry when I entered office was this perception that Kisumu is a violent and hostile place. I knew this kind of perception was bad for investment and the economy," he argued.
He said: "I came out during the anti-IEBC protests and appealed to our people not to engage in any destruction of property and any other acts that can scare our investors."
The County has now introduced an E - construction permit which has made it easy for investors to put up their structures in Kisumu. Ruth lauded the move as the right step toward growing.
Digitization of construction permits has reduced the time taken for processing the documents. Kisumu was ranked at sixth position in the issuance of permits the last time the survey was done in 2012.
"The new initiatives in Kenya are encouraging, but challenges remain," noted Augusto Lopez Claros, Director of global indicators at the World Bank in the report.
"The success of reforms hinges on better implementation, coordination across tiers of government and sustained capacity building to empower counties to make it easier to do business."
The indicators- business licensing, property registration, construction permits and contract enforcing- are the parameters that the World Bank used to rank the counties.
The report notes there is lack of a consistent pattern by any county government to lure investors.
The World Bank said county governments need to do more to improve the investment climate through legislation enabling residents to access employment and thereby curbing poverty.
With major investments coming up in Kisumu County, it could soon be transformed into a major investment hub in East Africa if the ongoing efforts to unlock its underutilized economic potential bear sustainable solutions.
The County expects to specialize on hospitality management owing to the expected tourism boom when the regional investment bloc secretariat begins operation.
