Governors from the Lake Region Economic Bloc are calling for the revival of the regional bank initiative, initially projected to cost KSh2.8 billion.
Led by the bloc’s chair and Kisumu Governor Prof Anyang Nyong’o, the governors emphasized that reviving the bank would allow the region to leverage its economies of scale.
Attractive consumer bases for businesses, encouraging trade and investment. These blocs also help streamline infrastructure development, improve trade facilitation, and harmonize policies, which can create a more stable and predictable business environment.
As a result, they become more appealing to foreign investors, offering access to a broader market, reduced risks, and improved economies of scale. This, in turn, boosts foreign direct investments, creating job opportunities, supporting technology transfer, and fostering long-term economic growth for the entire region.
Kindiki told the investment forum that for regional development to be successful, there must be a collective effort, with all counties working together and using their unique assets to the fullest.
The national government, he assured, would continue to play an instrumental role in supporting their initiatives through funding, policy backing, and ensuring that the necessary infrastructure is in place for sustainable growth.
Consequently, he urged county leaders to embrace collaboration and innovation, with a focus on improving the quality of life for their citizens and achieving shared economic success across the region.
