Investors flock Laikipia with mega plans

Laikipia County seems to have found the magic for attracting investors. The county is witnessing several multimillion-shilling projects coming up, especially in Nyahururu town.

A hospitality company is building a Sh1.5 billion resort, a project that is expected to stimulate tourism in the area. Also coming up is a Sh1.4 billion mall.

The five-star resort, which is expected to be a game-changer in the county’s hospitality sector, is owned by Panari Investment Ltd. It has a capacity of 100 beds and is strategically located on the edges of Thomson Falls in Nyahururu town

The hotel, scheduled to open in the last quarter of the year, will make Laikipia a destination for conference tourism. This segment of the hospitality sector is dominated by Nairobi, Naivasha and Mombasa because they boast a wide range of hotels.

The resort will provide an indoor swimming pool, a spa, modern gyms and organised walks along Ewaso Nyiro River.

CABLE CAR

The investment is also expected to bridge an acute shortage of up-market accommodation in Nyahururu.

What could make the hotel unique, however, is its plan to install a cable car. The firm has engaged a leading maker of cable cars in the world to explore the possibility of installing one at the resort.

“We are motivated by the location of Nyahururu as a focal point through which four major roads pass to and from Nakuru, Gilgil and by extension Naivasha, Nyeri and Maralal,” Panari managing director Patrick Marekia said.

“We are also aware of the growing middle-income group in Kenya with both disposable incomes and (the) propensity to travel particularly to new and exciting destinations.”

RENEWABLE ENERGY

Mr Marekia will be among key investors expected to attend the county’s investment forum on Thursday and Friday.

About 104 local and international firms have confirmed their interest to invest in the county, with many eyeing opportunities in renewable energy.

Also coming up is a Sh1.4 billion shopping mall in Nanyuki Town, which is said to be the largest in the Mt Kenya region.

Mt Kenya Breweries Ltd is also carrying out test runs at its plant in Nanyuki Town. Its products are awaiting approval by the Kenya Bureau of Standards before embarking on full operation by September.

The Kenya Judiciary Training Institute is also shopping for land in the county to put up a research, training and development centre.

The county government has allocated the Judicial Service Commission five acres in Rumuruti to construct a High Court.

A LOT OF POTENTIAL

“We have a lot of potential, which can only be unlocked by bringing on board local and international investors. This will create jobs and wealth and improve (the) livelihood of our people,” Governor Joshua Irungu said after inaugurating the committee organising the investment conference at Sportsman Arms hotel in Nanyuki.

The county government started by mapping out investment areas before calling for expression of interest from potential investors.

“So far 104 firms and individuals have expressed interest to invest in energy, agriculture, water, tourism and culture among other sectors,” said trade, industrialisation county executive Jane Putunoi.

The energy sector has attracted at least 14 firms that are targeting production of biofuels, generation of five megawatt hydropower at Thomson Falls, wind and solar power as well as the establishment of a photovoltaic manufacturing plant.

Four firms want to establish an abattoir and a tannery.

Ms Putunoi is optimistic that more investors would express interest in putting their money in the county during this week’s conference.

UNDERLYING CHALLENGES

Due to its strategic location along the Lapsset corridor, Laikipia has been billed as the next frontier for infrastructure development. It is also surrounded by eight other counties that makes it a vital business centre.

“We perceive these counties as potential sources of business for Laikipia. There are also the dynamics that the Lapsset corridor is likely to stir in the area,” said Mr Marekia.

Talks during the conference are expected to centre on transport, housing, energy and telecommunications infrastructure and how investment and other challenges could be dealt with.

To coordinate and guide investments, the county government has prepared a Bill seeking to set up the Laikipia Investment Authority. It also hopes to put in place a law on public-private partnerships.

Apart from providing land for investors, the county has cut to less than a week the period for approving building plans.

An information desk has also been set up at the county headquarters to guide the investors.

The investments are expected to absorb a large number of youths and spur the county’s economy.