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November 14, 2018

Lake Region bloc to hold blue economy and trade forum

Lake Region Economic Bloc CEO Abala Wanga, Bloc Chairman and Kakamega Governor Wycliffe Oparanya and vice chair and Bomet Governor Joyce Laboso/MAURICE ALAL
Lake Region Economic Bloc CEO Abala Wanga, Bloc Chairman and Kakamega Governor Wycliffe Oparanya and vice chair and Bomet Governor Joyce Laboso/MAURICE ALAL

The Lake Region Economic Bloc will hold a trade investment and blue economy conference in Bomet to introduce the Sh2.8 billion regional development bank.

The three-day conference’s theme is Optimising Shared Resources for Prosperity. It will bring together county and national governments and local and international investors. Bloc chairman and Kakamega governor Wycliffe Oparanya said Bomet’s Joyce Laboso is prepared to host the delegates.

The forum will provide a platform for the counties to showcase investment opportunities. Oparanya spoke at the bloc’s headquarters in Kisumu town. The bloc comprises 14 counties, the Kenya Maritime Authority, Kenya Marine and Fisheries Research Institute and the Kenya Investment Authority.

The forum will run from October 23-26. It has six symposia under subthemes blue economy, United Nations Sustainable Development Goal, partnership platform for universal health coverage, transformation of primary health coverage through optimising public private collaboration and investment 

and innovation.

Member counties are Kisumu, Bomet, Kakamega, Kisii, Nyamira, Kericho, Nandi, Migori, Busia, Vihiga, Bungoma, Siaya, Trans Nzoia and Homa Bay.

Oparanya said, “We welcome all stakeholders to prepare and actively participate in the conference which has so far attracted a lot of interest from development partners.”

Laboso said the county is prepared for the meeting which will provide opportunities for counties to take stock of achievements and spot areas of investments. Laboso, who is the bloc vice-chairperson, asked Kenyans to attend the meeting to learn business skills.

On the bank to be unveiled, Oparanya said they have contracted Deloitte East Africa to advise on its establishment. It is one of the flagship projects under the financial services pillar in the bloc’s

 economic blueprint. 

The chairman said the bank’s formation was on course and so far Sh700 million has been contributed by member counties.

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