The Kenya Development Corporation (KDC) and Lamu County are preparing to attract investments in seven key sectors ahead of the 21st Annual Lamu Cultural Festival.
The two are expected to hold a joint investment forum later this month which will act as a platform linking investors and other entrepreneurs with potential areas for long term investment within the county.
“With its rich history, stunning natural beauty, and untapped potential, Lamu is a distinctive investment destination. The investment forum is an opportunity to showcase Lamu’s unique strengths and attract the investments that will stimulate development in the region,” said Norah Ratemo, KDC Director General.
Areas targeted for investments include Lamu County Aggregation and Industrial Park, cotton processing ginnery, fish processing plant and cashew nut factory through Public Private Partnership.
Others include tourism, financing avenues for various projects under the Lamu Port South- Sudan, Ethiopia Transport (LAPSSET) corridor, and Lamu Special Economic Zone (LSEZ) and county livestock feed reserves, disease-free zones and fodder production.
“We are confident that the investment forum will stimulate and support the growth of Lamu and the broader Coastal economy, with direct material benefits for our people. We have an ambitious goal to creates employment opportunities for our people, and we believe this is a sustainable way of going about it,” added Issa Timamy, Lamu County Governor.
The forum slated for later this month will bring together local and international investors, investment professionals, government agencies, entrepreneurs, and policymakers to explore and harness investment opportunities in Lamu County.
“We aim to unlock the potentials of Lamu County by link investors with opportunities and financial arrangements under the public private partnership arrangements,” added Ratemo.