Effective monetisation of the various resources in countries can turn around fortunes and make them self-sufficient, Equity Bank Group MD, James Mwangi, has said.
He made the remarks at the just concluded Murang’a Investment Conference 2025, a forum that brought together business leaders, investors, government officials, and industry experts with a common goal to catalyse investments in the county.
These include royalties from resource extraction, taxes on resource-related activities, and potentially even revenue-sharing agreements related to resource development.
He said that counties must transition from primary production to value addition and industrialisation.
Murang’a County stands out as a region richly endowed with both natural and strategic assets. It boasts fertile soils, numerous rivers, a favourable climate, and breathtaking scenic landscapes that offer significant agricultural and tourism potential.
“Murang’a’s agricultural strength gives it a natural edge in industrialisation. The County leads in tea and avocado production and ranks second nationally in macadamia and coffee, all with high export and value addition potential, “James Mwangi said.
He illustrated the economic loss in Kenya’s raw export model with a striking example of how a kilo of raw tea leaves earns a farmer about Sh75, but when processed into 10-gram sachets, it can fetch over Sh156,000 in global markets.
“Why do we allow Sh155,925 in value to slip away? Imagine the tax potential if that wealth remained within our economy,’’ he added, making a powerful argument for local processing and value retention.
On investment incentives, Mwangi hailed Murang’a County for rolling out pro-business policies, including tax holidays, investment deductions, and streamlined licensing processes.
President William Ruto appointed Mwangi to spearhead the development of the Special Economic Zone (SEZ) in the county, underscoring the urgent need for Kenya to shift from exporting raw materials to producing value-added goods.
“Mwangi, you have my appointment in this public forum to lead the way in unlocking global markets for Kenyan goods and products. If it starts in Murang’a, it will spread across the country, Ruto said.
He also emphasised Murang’a’s readiness for green industrialisation, given its proximity to the Seven Forks hydroelectric dams, which offer affordable, renewable energy, a growing requirement among environmentally conscious global manufacturers.
Crucially, geographic location also gives it a natural aggregation and processing advantage, acting as a conduit between Nairobi and key Counties like Nyeri, Kirinyaga, and Meru.
With improved storage and logistics, produce from across Central Kenya can be efficiently processed and exported via Nairobi or Mombasa.
The county is also leveraging national programs such as the National Agricultural Value Chain Development Project (NAVCDP) to link farmers directly to buyers and ensure steady market access.
Reaffirming Equity Bank’s role as a financial anchor in the industrialisation journey, Mwangi pledged full backing for the county’s transformation agenda.
Equity has already committed over $50 million to support agriculture and climate-smart projects in Murang’a and has embedded agribusiness experts to provide farmers with capital, training, and market linkages.
