Centum CEO Mworia to head new Laikipia authority

Centum Chief Executive James Mworia (pictured) has been approved by Laikipia County assembly as chairman of the county’s development authority.

The advisory board is tasked with helping the county government source for funds to finance its planned projects.

Finance and Planning Committee Chairman Joseph Kiguru said the authority would help bridge the financing gap as well as promote investments through public private partnership.

“Having managed large private and public institutions, I believe Mworia has a good understanding of what investors want and he has a huge understanding of private investment sector,” he said.

If the county implements the County Integrated Development Plan (CIDP) as conceived, the Mworia-led board would be responsible for bridging the Sh15 billion mismatch between the funds required and available money.

Financing gap

The five-year CIDP is projected at Sh45 billion but the county can only finance Sh6 billion for the financial year through local revenue and the equitable share given to counties by the national government, which translates to Sh30 billion in five years.

That means the financing gap of Sh15 billion will have to be sourced from donor agencies as well as public-private partnerships.

While debating the report, the MCAs agreed that Mr Mworia’s vast experience in the private sector would see him attract investors from within in and outside Kenya.

Mworia is also a director at Sidian Bank, Nairobi Bottlers, Maiyan and Almasi Beverages where Centum has a stake. He was also recently appointed by President Uhuru Kenyatta as Machakos University chancellor.

MCA May Samkem lauded Mworia’s move to offer his salary to help poor students, saying it would play a major in promoting education in the county.