Investors promise to pump over Sh3b into Nandi County

KAPSABET: Local and foreign investors have pledged to pump billions of shillings into ambitious projects within Nandi County in North Rift region.

Governor Cleophas Lagat said investors have pledged to pump in Sh3.97 billion to tap potential opportunities in the county and create over 10,000 jobs for residents. He said the county government has put in place measures that will reduce the cost of doing business and also a conducive environment to invest.

"The job opportunities that will be created are expected to reduce poverty index that stands at 47 per cent to below 35 per cent thus improving the living standards of residents, Dr Lagat said on Friday at the end of a three-day investor conference, which was aimed at pointing out possible investment opportunities in the agricultural rich county. Nandi County is known for its agricultural potential but the county used the investment and exhibition forum to display other investment opportunities.

The county government said it would give incentives and goodwill to encourage investors to put their money in Nandi.

Investors expressed interest in taking up opportunities in the sector, a move expected to improve fortunes for farmers and residents.

Tea, dairy and coffee sub-sectors are key areas where investors pledged to put in millions of shillings on value addition projects.

For instance, DL Group promised to put up Sh1.8 billion purple tea processing plant in Nandi while investors from Israel are to develop a coffee milling plant in Tinderet. Investors from Denmark also plan to put up a dairy processor in the region to add value to milk produce.

Toror Grains is also eyeing the rich cereals sector in Nandi and is to put up a grain drying and storage facility that will be accessible to maize farmers and other cereals producers.

DL Group of Companies Chairman David Langat said value addition for agricultural products will enable producers access direct market for their produce locally and internationally. He noted that middlemen and brokers have exploited farmers by purchasing unprocessed produce at minimal prices.

FARM IMPLEMENTS

"There is need for creation of manufacturing industries. There is also need to manufacture farm implements and machinery instead of relying on imports," said Mr Langat, who was also picked to chair the county investment board that was inaugurated to drive investment agenda in Nandi.

Elgeyo Marakwet Governor Alex Tolgos who addressed the conference said unemployment rate among the youth is still a challenge in the North Rift region and welcomed investors who have taken potential opportunities in Nandi.

"We are a team working together as counties in the North Rift to have a regional investment conference and attract more investors to the region," he said.

Health, ICT and real estate are among the sectors identified by investors as having potential, with Mediheal Group of Hospitals expected to put up a Sh1.2 billion hospital in the county. Deputy President William Ruto who closed the conference asked Kenyans to take the first line in investing to win the confidence of foreign investors.

"We are working with counties to profile the country appropriately for investment and want to eliminate brokers who pose as entrepreneurs but portray the image of the country in bad light," he told participants.