Leaders within the Lake Region Economic Bloc have committed to nurturing an environment where public and private entities can co-create solutions, leverage each other's strengths and ultimately drive holistic growth.
The leaders during the first-ever Business Ecosystem Summit held in Kisumu stated that it was important for counties to work together not in isolation but through partnership with the private sector for businesses.
Led by LREB chairman, Kisumu Governor Anyang Nyong’o, they said they should embrace the spirit of collaboration not only between businesses and counties but also across sectors and industries.
Nyong’o said the event marks a pivotal moment in their ongoing pursuit of a more prosperous future for business and investments within Kisumu county, the LREB and the country as a whole.
He said their discussions over the course of the summit will center on the pivotal role of collaboration between businesses and counties and the strategies to streamline processes for enhanced business growth.
"This includes initiatives that underscore our commitment to an open and thriving business environment and the catalytic potential of public-private participation."
Further, Nyong’o said LREB is dedicated to empowering marginalised communities, nurturing entrepreneurship among the youth and facilitating the rise of women-led enterprises.
By embracing diversity and inclusivity, he said they will ensure the rewards of economic advancement are accessible to all, leaving no one behind.
"This pursuit of collaboration for shared prosperity has pushed us beyond the bloc’s limits to the continental and international platforms where we are showcasing the inherent potential bubbling within the region," Nyong'o said.
The LREB vice chairman, Bungoma Governor Kenneth Lusaka said it was important for the private sector to take advantage of the County Aggregation and Industrial Parks (CAIPs) to invest.
He noted that already, the hardware is in place and what is required is the software adding that all the 47 counties will have the parks.
The establishment of the parks, he said, is in line with ongoing key government reforms aimed at stimulating business growth across the country.
Vihiga Governor Wilbur Otichilo said with the industrial parks in place, it was very important for counties to form an ecosystem to ensure all industrial parks work in synchrony with no duplication but complementary in what they do.
He noted that they are looking at becoming an industrial country in the near future.
"We will need the private sector to invest in our counties for this to succeed," he said.
The first-ever Business Ecosystem Summit was aimed at unlocking the potential of collaborative networks and effectively navigating the dynamic shifts within various business practices.
The summit was also meant to provide a mechanism for organisations to leverage technology, excel in research and business competence and effective collaboration in the market place.
