UPDATES
Six coastal counties could generate KES 10B in source revenues annually
Coastal counties are capable of generating more than KES 10 billion in source revenues every year, the Jumuiya ya Kaunti za Pwani secretariat has said.
Speaking at the ongoing annual Jumuiya Agribusiness and Blue Economy Investment Conference in Hola town, Tana River County, JKP Chief Executive Officer Emmanuel Nzai stated that the six counties that comprise the economic block are lagging in revenue collection despite the enormous growth potential that exists.
Kilifi County was recognised as a major draw for investors because several corporations were establishing production units and warehouses in the area, creating jobs and increasing local revenue.
“In the last ten years what has come to the counties in terms of development partner money and national funds is about KES 400 billion and in that estimate, we think we can raise KES 10 billion in revenues among our counties every year.
Kilifi County Speaker Teddy Mwambire observed that the coastal region’s six-county legislatures were previously not properly consulted and participated in JKP operations, resulting in conflict in passing budgets for the economic block by regional assemblies.
He noted that they had discussions with governors and that the assemblies were now familiar with the programme. He recommended governors to focus on one economic area each year so that resources can be funnelled into specific projects to ensure their success.
“This is the fourth JABEC conference and what we only see are talks and more talks but no action, we need to turn our projections into practice so that our people can feel the positive impact of our economic block,” he said.
Kilifi County Deputy Governor Forah Chibule stated that the county has an open-door policy in which companies are invited to invest in the area with the goal of creating work opportunities for citizens and thereby improving income flow.
Revital Healthcare Limited Chairman Rajni Vorah lamented the high cost of power, which was eating into their capital and causing many investors to avoid investing in Kenya.
“The biggest burden we have is the cost of electricity and the government should give incentives to help attract and retain investors,” he said.
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