(Eldoret) – Uasin Gishu County is actively fostering partnerships with financial institutions to promote agribusiness and create a favorable business environment. During the Absa Bank business forum held in Eldoret, Governor Jonathan Bii praised the bank’s efforts and emphasized the importance of business continuity and resilience, especially in uncertain times. He noted that despite challenges such as the recent surge in fuel prices, many businesses in the county have demonstrated remarkable resilience.
Governor Bii highlighted the significant role that business plays in the growth and development of Eldoret, calling it a vital part of the city’s economy. He also pointed out that his administration has taken steps to support local businesses, including a business mapping initiative that identified over 47,000 businesses in the county, with a large portion being micro-enterprises. The governor stressed the need for further collaboration to strengthen these businesses through capacity-building initiatives and incubation programs.
To ease the burden on local businesses, particularly micro-enterprises, the county has reduced various fees and levies. For example, the boda-boda (motorcycle taxi) sticker fee was lowered from Sh600 to Sh400, and the taxi sticker fee was reduced from Sh2,500 to Sh2,200. These reductions have led to a significant increase in the county’s revenue, with more young people opting to engage in businesses, boosting local economic activity.
Governor Bii also acknowledged the crucial role that farmers play in ensuring food security in Kenya. He emphasized the importance of supporting farmers by improving access to agricultural inputs. To this end, the county government has strengthened last-mile fertilizer distribution through local stores, helping farmers increase their yields. Additionally, the county has launched an agripreneur model and deployed 210 officers across the wards to directly assist farmers.
The county is also promoting crop diversification, offering free seedlings for coffee, pyrethrum, and avocado to farmers. This initiative aims to help farmers build resilience in the agricultural sector and promote the growth of cash crops. Governor Bii further urged financial institutions to increase insurance coverage for farmers to protect them from risks such as post-harvest losses, which account for up to 30% of the annual harvest.
To support the youth, who make up a large portion of the population in Kenya, the governor called on them to embrace ICT skills and digital solutions for business ventures. He stressed the importance of financial literacy, mentorship, and coaching before young people receive funding to engage in business.
In addition to these initiatives, Uasin Gishu County has established a state-of-the-art Service Centre aimed at reducing the time spent by clients seeking services. This is part of the broader strategy to empower the business community and improve the ease of doing business in the county.
Victorine Kapkiai, the Chief Officer for Trade, outlined several county initiatives to support businesses, including facilitating access to capital through funds such as the Inua Biashara Fund and Women Enterprise Fund. The county is also developing key infrastructure, such as the Export Processing Zone (EPZ) and County Aggregation and Industrial Parks (CAIPs), to create more opportunities for businesses to thrive.
Absa Bank, represented by Regional Manager Julius Songok, reaffirmed its commitment to supporting agribusiness and ensuring food security in the region. Songok noted that the bank has allocated sufficient funds to help businesses grow and remain sustainable. He also emphasized the importance of technology in reducing post-harvest losses and encouraged more partnerships in the agribusiness sector.
Absa’s role in supporting agribusiness includes providing farmers with access to crucial resources, such as information, mentorship programs, and insurance, to mitigate risks and ensure the sector’s long-term success.