The Nyanza International Investment Conference, scheduled for February 6-8, at Ciala Resort near Kisumu City, is a transformative moment for the region.
With the theme ‘Nyanza Rising - Towards Economic Transformation for Socio-Economic Growth and Development,’ the region is sending out a loud, bold and unequivocal statement that the era of the begging bowl, of the ‘serikali saidia’ is firmly in the past.
In its place, a new paradigm has emerged, of a region seeking to be a catalyst of its own progress and success by leveraging its resources, fostering innovation and pursuing partnerships to drive sustainable growth and development.
It reflects a mindset of destiny ownership, resilience and a focus on transforming its immense local resources and opportunities into wealth.
Nyanza is ready to craft its own success story and I am particularly elated at the prospect of a region whose development will be dependent upon tapping into its vast untapped potential to generate wealth for its people.
I have several times been asked by potential investors whether Nyanza, once seen as a political hotbed, is a secure and welcoming destination for investments.
My answer is a resounding yes, a position I take without any fear of contradiction.
The selection of President William Ruto as the chief guest, alongside Kenya’s candidate for the AUC chairmanship, Raila Odinga, demonstrates the region’s unified front.
This collaboration, bringing together national and county leaders, the Lake Region Economic Block, corporate stakeholders and civil society, signals a paradigm shift.
The conference represents an opportunity to disrupt the status quo of yesteryears that has often fallen short of the development needs of the region.
It is a clear sign that the demons of the past have indeed been exorcised and a new dawn is upon us.
I am deeply gratified, inspired and encouraged by the positive message and symbolism that this new era of cooperation, comradeship and partnership sends to potential investors and my message to them is that ‘Nyanza is open for business with the full support of the government and its robust institutional frameworks to back their ventures’.
While much attention is given to foreign investors, I also wish to call upon the Nyanza diaspora to invest back home and be part of this transformation.
Years of limited opportunities have caused significant brain drain, with many skilled individuals migrating to urban centres or abroad.
Suburbs like Kibra and Mathare in Nairobi house skilled artisans from Nyanza known for their technical prowess, striving to eke out a living while their skills could benefit the region’s seven million people and earn them and their families a decent livelihood.
Similarly, Nyanza-born individuals in the diaspora have excelled locally and globally. If you venture further afield to foreign lands such as the United States there are huge migrant populations from Nyanza, in areas such as Dallas and Minnesota to the extent that a native of Nyamira county made history in the United States after successfully being elected to the Minnesota House of Representatives.
The region has also produced some of the most brilliant brains in academia, medicine, engineering, the arts and economics, most of them plying their trade in the diaspora.
I wouldn’t have enough ink or paper to venture into the brain drain in the sixties culminating in the region producing the first ever US President, Barack Obama.
This conference offers an opportunity for the diaspora to reverse brain-drain into brain-gain by reinvesting in their home region. Confidence from local investors will further inspire international capital inflows into Nyanza’s lucrative opportunities.
For potential investors, the blue economy stands out as a key opportunity, leveraging Lake Victoria for fishing, aquaculture, maritime tourism and boat building.
Agriculture also holds great promise, with potential for value-added processing of bananas, pineapples and avocados, as well as the revival of the sugar and cotton industries.
By harnessing its resources, fostering partnerships, and embracing innovation, Nyanza can transform into a beacon of prosperity, attracting investments and creating a brighter future for its people.
ELIUD OWALO, Patron of the Nyanza International Investment Forum
