When it comes to investment, many people believe Nairobi, the country’s Capital City and commercial hub is the place to be.
However, a report by the Kenya Association of Manufacturers (KAM) has shown that the towns of Nakuru and Nyandarua are giving Nairobi stiff competition in providing an enabling environment for doing business.
According to the KAM Report released on Friday, Nakuru County is ranked third at a score of 35.14 percent in enhancing business environment for Micro and Small Enterprises (MSEs) after Nairobi at 65.33 percent and Nyandarua at 40.48 percent respectively.
KAM hailed Nakuru County for instituting policy, legislative and regulatory level reforms and market level interventions including, infrastructure and services, access to finance and labour force.
County Trade and Tourism Executive Committee Member, Mr. Raymond Komen, noted the Report was a boost to the town’s march towards city status.
He expressed optimism that the journey towards city status is unstoppable and positive responses from stakeholders and partners given by the Lee Kinyanjui led Administration an additional boost.
Komen, called on the business community to focus on the advantages that will accompany city status, saying tourism and hotels will be the major beneficiaries of the elevated status, as they will be highly rated as tier one under tourism category.
He also pointed out that in the last two years his department has invested heavily in markets in order to boost small scale trading.
The department has so far constructed two new markets as well as renovated eight existing ones.
The CEC however said there is need for tougher regulations to protect local producers and traders from unfair competition.
In order to achieve sanity and decorum in the alcoholic industry in the County, Komen said there would be no approval of licenses for businesses, which are in conflict with the Compliance and Enforcement Bill, 2014.
He said so far the department is working under strict directive from the Governor who wants to improve the enforcement of laws on Alcohol.
Department is developing and implementing a compliance and enforcement code of conduct for county enforcement officers and business community in the County.
Also present was Finance CEC Dr. Peter Ketyenya, who stressed on the need for the youth to access affordable credit.
He said the County Enterprise Fund Bill, which is before the Assembly, will enable young people access with ease credit at three per cent interest.