Counties should set up their own banks to fund development projects

In the 1970s and ‘80s, finance development banks (DB’s) played a significant role in in Kenya’s industrialisation. Companies like Bidco and other manufacturing industries were funded through the developments banks, making import substitution possible.

Key to realising the Government’s Big 4 agenda is availability of sufficient financing mechanism. During the Addis Ababa Conference in 2015, which was organised by the United Nations on Financing for Development, it was acknowledged that well managed national development banks could play a significant role in filling financing gaps.