•USAID Kuza plans to host additional County Investment Conferences targeting Isiolo, Marsabit, Samburu, Garissa, Lamu, Mandera, Tana River, and Wajir Counties.
•The Fund finances clients that are drivers of economic and social growth.
Image: EMOJONG OSERE
United States Agency for International Development has disbursed over Sh290 million in loans to micro, small-and medium enterprises (MSMEs) in West Pokot and Turkana Counties.
The loans channeled through the Impact for Northern Kenya Fund, have so far reached 1,500 MSMEs in the two Northern Kenya counties.
The Impact for Northern Kenya Fund is a $30 million (Sh3.9 billion) impact investment wholesale financing vehicle that lends capital to financial institutions and small and medium-sized enterprises (SMEs).
The Fund finances clients that are drivers of economic and social growth.
It has been working with enterprises in West Pokot and Turkana since 2022 and has reached over 1,265 MSMEs in West Pokot, disbursing loans of over $1.67 million (Sh233 million).
A further, 280 MSMEs in Turkana County have benefited from over $419,000 (Sh55.2 million) in loans.
USAID Kuza’s Chief of Party, Wyanie Bright, said the plan is to work alongside local communities to strengthen entrepreneurship, local industries, and market systems.
“Through our Fund, we have created over 2,000 new jobs in these counties. The success of our strategy lies in empowering the private sector with appropriate and affordable capital, which ensures long-term sustainability and self-reliance for the region” said Bright.
This was revealed during the Turkana and West Pokot County Investment Conference held in Lodwar, Turkana County this week.
Discussions during the Investment Conference also addressed some solutions to overcoming market access and finance challenges, the need for peace-building initiatives in creating a stable investment environment, and how to leverage technology and nurture talent among the youth in West Pokot and Turkana counties.
USAID Kuza plans to host additional County Investment Conferences targeting Isiolo, Marsabit, Samburu, Garissa, Lamu, Mandera, Tana River, and Wajir Counties.
The Conference brought together approximately 300 investors, local entrepreneurs, government officials, and development partners to discuss ways to unlock the vast investment potential of Turkana and West Pokot.
Climate-smart agriculture, renewable energy, livestock value-addition, and tourism emerged key areas of interest among investors looking to establish a foothold in the two counties.
Key discussions on climate-resilient agricultural practices took place including sustainable farming practices, irrigation projects, post-harvest value-addition, and ways to improve livestock productivity through breeding and commercialization.
In the past, Kenya’s food security has been threatened by climate change, stagnating productivity against rapid population growth.
With the agricultural sector employing over 75 percent of the population, poor agricultural productivity is linked to poverty, poor health, and conflict.