The County Government of Kakamega Friday signed Memoranda of Understanding with Kenya Development Corporation (KDC) and Kenya Diaspora Alliance (KDA).
The Kakamega County and Development Agency (KCIDA) initiative is to bring the two organizations on board to attract investors from the vast network financed by the Kenya Development Corporation and the members from the Diaspora interested to invest in the County.
KDC is a State Corporation established in 2020 to promote sustainable economic development by providing development finance, infrastructure finance, business support, and advisory services to medium and large-scale enterprises, infrastructure projects, and commercial undertaking in target sectors in Kenya and elsewhere.
Through the cooperation between the county government and KDC, investors from both private and public sectors can be financed to invest in several development projects in Industrialization (such as Dairy Plant in Malava, Tea factory, Lugari Maize Milling, The Industrial Park), among other investment opportunities.
Kenya Diaspora Alliance federates 46 registered Diaspora organizations with a combined nominal membership of about 250,000 Diaspora members and is a member of the African Diaspora Alliance. The Agency seeks to tap into the private and public sectors within the Diaspora by marketing investment opportunities in Kakamega County to members of KDA.
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KDA seeks to work with the County Government of Kakamega through KCIDA and enable the Diaspora to be mainstreamed in the County’s socio-economic development. This will be a win for the citizens of Kakamega as it is the go-to forum to leverage Diaspora resources (intellectual/skill, financial, networks, and markets) for the County’s transformation and growth.
The two MoUs were signed by Governor H.E. Dr. FCPA Wycliffe Ambetsa Oparanya for Kakamega County and Chairperson KDC Mr. Micheal Nyachae and Mr. Elias Mabira, the Deputy President KDA, respectively.
Governor Oparanya thanked the delegation for showing interest in partnering with Kakamega County. His administration has steadily attracted investors into the County through the Kakamega County Investment Development Agency.
He explained that the County Government is directly engaging investors through the investment unit, moving away from the bureaucratic processes involved during Government engagements.
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The Kakamega County Investment and Development Agency (KCIDA) has already set up structures and profiled investment opportunities in the County. We are looking forward to approaching and engaging partners to get them to invest in Kakamega.
The meeting was also attended by CECM for Finance, Economic Planning, and ICT Dr. Beatrice Sabana, County Secretary and Head of Public Service CPA Amb. James Ochami; County Attorney CS Vivian Mbaka; Chief Officers CPA Samson Otieno, Mr. Dan Borter and Mr. Phanuel Musasia and KCIDA’s Ag. CEO Madam Elizabeth Asichi, among other Senior Government Officers.