Nakuru: The County Government of Nakuru has assured the business community that it is supporting policies and legislation that facilitate a stable, predictable and conducive environment for businesses and investments to thrive. Chief Officer for External Resource Mobilization Dr. Victor Achoka said they were actively engaged in public and private sector partnerships that will shape practical and responsive policies and legislation towards providing a business-friendly environment.
According to Kenya News Agency, this initiative aims to result in improved infrastructure, streamlined regulations, fostered innovation, and a lower cost of doing business. Dr. Achoka highlighted the importance of counties in Kenya's development and their role in attracting investors. He stressed the necessity for devolved units to introduce incentives such as tax breaks and streamlined licensing processes for specific industries, alongside enacting laws or policies designed to reduce bureaucratic hurdles for businesses.
Dr. Achoka emphasized the commitment of Governor Susan Kihika's administration to policies that support enterprise development and economic sustainability. He stated that robust cooperation between the national and county governments is essential to lower the cost of doing business, thereby enabling the economy to thrive.
During a forum hosting over 50 representatives from startups and established enterprises, Dr. Achoka discussed key issues related to taxation, licensing, business regulations, and opportunities for public-private partnerships to support economic growth in Nakuru County. The forum served as a platform for networking, collaboration, and reflection on the challenges facing entrepreneurs.
He affirmed the county administration's efforts to create an enabling business environment, citing initiatives like the Unified Business Permit, which simplifies regulatory processes for investors. Additionally, he mentioned the Wezesha Biashara Fund, valued at Sh130 million, aimed at supporting Micro, Small, and Medium Enterprises (MSMEs) and cooperatives across the county.
Dr. Achoka pointed out Nakuru's significant opportunities in sectors such as agriculture, manufacturing, transport, housing, hospitality, tourism, and infrastructure development. Economic survey findings indicate that Nakuru is rapidly becoming a preferred investment destination, with an economic potential worth Sh200 billion in various sectors.
A survey by the Institute of Economic Affairs showed Nakuru town as the easiest place to start a business compared to other urban areas, mainly due to a reduced tax burden. The county scored 89 percent in the tax sub-cluster, outpacing Eldoret and Machakos.
Towards boosting industrial growth, the county is collaborating with the national government to establish two industrial parks, including an agro-industrial park in Njoro, expected to transform Nakuru's fortunes as a preferred investment destination.
Dr. Achoka stressed the County Government's commitment to stakeholder feedback and highlighted opportunities for investors in agriculture, geothermal power generation, and other sectors. He noted the potential of geothermal steam wells at Menengai Crater and the strategic importance of the Lanet Airport under construction.
With its abundant natural resources, infrastructure, strategic location, and skilled labor, Nakuru County is seen as a significant untapped opportunity. Dr. Achoka outlined various investment prospects in environment, waste management, renewable energy, agribusiness, infrastructure, and information technology-enabled services.
He concluded by emphasizing the importance of partnerships between businesses and the county government to enhance development, improve infrastructure, restore natural resources, and provide productive jobs to raise living standards throughout the devolved unit.