Kakamega signs 22 deals at investor forum

Kakamega County’s economic fortunes will change if the 22 memoranda of understandings signed between the devolved unit and various development partners are actualised.

Among the sectors set to benefit are sugar and gold, which have declined over the years.

Speaking when he presided over the inaugural Kakamega International Investment Conference on Wednesday, President William Ruto promised to focus on investment in value addition activities in various sectors in the county.

The President said that the government will in the next budget set aside resources for cane development to support farmers and ensure availability of the raw material for sugar.

“Reforms in the sugar industry are underway and whatever has been pending in the last 25 years will be concluded before the end of the year,” said the President during the event held at Masinde Muliro University of Science and Technology.

Investment programme

President Ruto reiterated that it was unfortunate that Kenya was spending close to Sh500 billion every year to import sugar, edible oil and wheat yet the same can be produced locally.

“Like other farmers in the coffee, tea and other cash crops, sugar cane farmers will also get bonuses,” he said.

Instead of privatisation of the public mills, President Ruto noted that leasing will allow the government to terminate the contracts as and when an investor fails to meet expectations.

“There are some characters who have gone to court to sabotage this process because they are used to it and they think we are going to stop the way they have managed before. We must bring this process to its logical conclusion and free the farmers in Kenya from the tyranny and hostage of a few corrupt people,” he said.

In the gold sector, President Ruto said that the Ministry of Mining had just concluded a Sh5.8 billion investment programme for a gold refinery in Kakamega County.

Last mile connectivity

He said the project will not only lead to improvements in the mining of the precious metal, but also the processing to ensure that Kenyans get value.

The President also indicated that the government had set aside Sh2.5 billion to connect 40,000 homes in Kakamega to electricity this year under the last mile connectivity.

To support this, he said that a Sh10 billion new transmission line from Kibos to Kakamega is set to be constructed under a private-public partnership arrangement. The line, he said, would ensure predictable and reliable electricity supply.

“We are in the final stages of implementing the project before the end of this year,” he said, adding that it will give an opportunity to manufacturers to carry out their activities without interruptions.

The President was accompanied by African Continental Free Trade Area secretary-general Wamkele Mene, Prime Cabinet Secretary Musalia Mudavadi, Mining CS Salim Mvurya and his Investments, Trade and Industry counterpart Rebecca Miano.

[email protected]; [email protected]