Nakuru is a county every investor should bank on with their investment this year.By Reuben Kimani
The country has experienced gradual improvement of the economy especially in the real estate sector that has received support from the need to provide affordable housing to Kenyans. As the Affordable Housing Agenda takes shape, Nakuru County continues to gain preference from investors of all fronts as the year begins.
- Nakuru has planned construction of a Kshs. 3 Billion International Airport in Lanet Area.
- Nakuru County was selected to pioneer Affordable Housing by The World Bank.
- The World Bank channeled over 1 Billion in November for urban growth projects in Nakuru.
- The County has water availability at 17 hours a day according to Institute of Economic Affairs.
Nakuru has a planned construction of a Kshs. 3 Billion International Airport in Lanet. This project is set to begin this year and will be rolled out in two phases. The first phase will involve rehabilitation of the runaway, a fence, construction of taxiways and terminals, a military lounge, an air rescue Centre and a fire fighting building while the second phase will entail expanding the runway from 1.7km to 3.6km. The airport will help in the transportation of perishable farm produce, including flowers. This project, together with the planned Industrial Park in Naivasha will serve as some of the incentives that will attract investors in the area. The extended SGR to Naivasha will also be a big plus with the new US flights opening up a new market for flowers produced in Naivasha.
In October last year, Nakuru County was selected to pioneer Affordable Housing by the World Bank. The selection was based on diverse factors among them infrastructure which favors the development of a region. Nakuru was advantaged by the upcoming dualling on the Nakuru – Nairobi highway, extension of the Standard Gauge Railway, mega Industrial Park and Kengen’s decision to establish a business park in the county.
Additionally, The World Bank channeled over 1 Billion in November 2018 for urban growth projects. This is a great boost to this county set to achieve city status. For investors aiming at conducting business in Nakuru, a survey conducted by Institute of Economic Affairs analyzed performance indices in Nairobi, Nakuru, Kisumu, Eldoret, Machakos and Mombasa and found out that it is easier to start a business in Nakuru town compared with the other five populous urban areas.
The survey considered areas relevant to the life of small medium enterprises factors including taxes, fees and good governance. The assessment discovered that Nakuru had an overall score of 89 in the tax sub-cluster followed by Eldoret (78), Machakos (67), Kisumu (64) and Nairobi and Mombasa (56). According to the survey, it was evident that Nakuru has the friendliest tax administration among the urban Centres singled out. This is positive encouragement for business people who may consider putting up a business or expanding their operations to this town that enjoys an influx of people both in transit and residing in this area.
This survey also found out that Nakuru has water availability at 17 hours a day compared to the other five urban Centres. Water availability is a key factor that influences business location and residential houses this makes Nakuru top in the preference because it makes it easier to conduct farming activities and venture into construction.
With all the advantages that Nakuru presents, investors have all the reasons to invest here.
The author is the CEO, Username Investment Limited.