Kisumu County Government has been asked to allocate more funds towards investments, affordable housing and infrastructural development in order to spur growth in such sectors of its economy.
Various investors asked the county government to take advantage of the various investment opportunities within the region.
“There is an increase in the number of universities within the county and there is need to set up accommodation facilities for both students and staff from those universities,” said Engineer Luke Mandago.
The stakeholders were speaking on Monday during the Kenya Investment Authority consultative meeting in Kisumu.
KenInvest Managing Director Moses Ikiara said the only way the county can create more job opportunities is through investments.
“We can promote the national economy through investing in the 47 counties but every county must do its part too,” said Ikiara.
He asked Kisumu Governor Jack Ranguma to speed up the facilitation of investors by registering their companies faster and more efficiently.
Kenya Association of Manufacturers’ Sagar Shah also asked the County Government of Kisumu to commercialise the ideas of young and upcoming investors within the county.
He asked the Ministry of Industrialization and Enterprise development to design a platform where a person can get access to funding for a business capital.
“Most youths do not qualify for business investments due to the high interest rates offered by banks,” said Sagar.
He asked the county governments to protect investors’ funds in order to attract more investors in their counties.