NAIROBI, Kenya, Mar 22 – Over 1,500 micro, small, and medium enterprises (MSMEs) in West Pokot and Turkana counties have received loans totaling over Sh290 million from the Impact for Northern Kenya Fund, a USAID Kuza-financed impact investing vehicle.
This was announced at the Turkana and West Pokot County Investment Conference held in Lodwar, Turkana County.
The Fund, with a total value of $30 million, provides catalytic capital to financial institutions and SMEs, supporting economic and social growth.
Since 2022, it has disbursed loans of over Sh233 million to 1,265 MSMEs in West Pokot and over Sh58.7 million to 280 MSMEs in Turkana County.
Wyanie Bright, USAID Kuza’s Chief of Party, expressed their commitment to working alongside local communities to strengthen entrepreneurship, local industries, and market systems.
“Through our Fund, we have financed over 1,500 enterprises in West Pokot and Turkana counties, who have in turn created over 2,000 new jobs in these counties,” Bright said.
“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.”
The Turkana & West Pokot County Investment Conference, themed ‘Unveiling Opportunities: Redefining Northern Kenya as an Investable Destination’, gathered around 300 investors, local entrepreneurs, government officials, and development partners.
The aim was to explore ways to tap into the significant investment potential of Turkana and West Pokot.
Key focus areas included climate-smart agriculture, renewable energy, livestock value-added, and tourism.
Discussions highlighted the importance of sustainable farming practices, irrigation projects, post-harvest value addition, and enhancing livestock productivity through breeding and commercialization.
Addressing these issues is crucial given Kenya’s historical challenges with food security, exacerbated by climate change and rapid population growth, with the agricultural sector employing over 75 percent of the population.
Speaking during the Investment Conference, John Erus, the Deputy Governor of Turkana County, said: “Governor Lomorukai agenda is to address intergenerational poverty through sustainable investment in socio-economic development in Agriculture, pastoral value chains, trade investment, and revitalizing education.”
On his part, H.E. Robert Komolle, the Deputy Governor of West Pokot County, remarked on the high potential of tourism to transform the county’s economic fortunes.
He invited investors to look into the construction of tourist resorts, lodges, and retreat centers.
Discussions at the Turkana & West Pokot County Investment Conference covered solutions for market access and finance challenges, emphasized peacebuilding for a stable investment environment, and explored leveraging technology and nurturing youth talent in both counties.
USAID Kuza plans to host additional county investment conferences targeting Isiolo, Marsabit, Samburu, Garissa, Lamu, Mandera, Tana River, and Wajir counties.
