USAID CALLS FOR MORE INVESTMENT TO NORTHERN KENYA

Rebecca Miano cabinet secretary East Africa community Arid and semi Arid 

Cabinet secretary for East Africa and arid lands Rebecca Miano has said the government is keen to opening up the Northern Kenya frontiers to attract more investment in the area that is 80 percent huge,home to biggest rivers,has fertile land,untapped renewable energy and home to 90 percent of wildlife but contribute the least to the GDP,this will be done by improving road networks and security to the areas which also account for 70percent of that national livestock.

Speaking during the opening ceremony of the Northern Kenya impact and investment conference at a Nairobi hotel the cabinet secretary has called on the Public, private, and development sector actors, financiers and investors to pledged their support for impact investments aimed at contributing to sustainable development of the region.

The one-day conference hosted by USAID Kuza and partners, themed “Why Northern Kenya, Why Now?”discussed the status, and opportunities and addressed constraints for investment in the region,exploring the growing need to close the funding gap hindering enterprise development in northern Kenya.

Over $14 million has been disbursed to over 9000 small and micro enterprises in the Northern Kenya

region through the Impact for Northern Kenya Fund targeting various sectors such as agriculture,livestock, energy, climate, and tourism.

The Fund, an impact investment wholesale financing vehicle lending catalytic capital to financial institutions for on-lending to micro, small- and medium-sized enterprises (MSMEs) under the USAID Kuza project has seen the creation of over 16,500 jobs in the arid and semi-arid counties of Garissa, Isiolo,Lamu, Mandera, Marsabit, Samburu, Tana River, Turkana, Wajir and West Pokot.

Wyanie Bright,chief of party USAID Kuza

USAID Kuza, Chief of Party, Wyanie Bright,who spoke during the conference said: “The 'missing middle' small and medium-sized enterprises (SMEs) struggle to access appropriate financing to support their growth and development. By addressing the financing needs of the missing middle, stakeholders can empower

SMEs in Northern Kenya to grow, innovate, and create jobs, ultimately driving economic development and social progress in the region's growth and sustainable development of the region.

The 2023 Northern Kenya Impact Investment Conference is supported by USAID Feed the Future,ACDI/VOCA, USAID Kuza, USAID Livestock Market Systems, AV Ventures, Impact for Northern Kenya Fund,

GIZ, KCB Foundation, East Africa Seed, Middle East Bank, Kenya Union of Savings and Credit CoOperatives Ltd. (KUSCCO), Kenya Climate Innovation Centre (KCIC), Agricultural Finance Corporation

(AFC), Solargen Technologies Ltd., the County Government of West Pokot, WePesa SACCO, Lelan Farmers

SACCO, Fadhili Micro Enterprise Ltd., Incredo Access Solutions Ltd., First Capital Ltd., and Smart Regional Consultants.