Investment Conference: Nyanza seeks to unlock opportunities for economic growth

By Peter Ochieng

The first Nyanza International Investment Conference (NIIC) kicked-off in earnest on Thursday, February 6, 2025 in Kisumu, bringing together over 600 delegates and dignitaries from various sectors to chart a way forward for the region’s economic growth. 

Speaking during the official opening of the event, Julius Ogamba Migos, the Cabinet Secretary (CS) for education expressed regrets at the fact that Nyanza is a highly active area politically, but ‘somehow economically dormant.’

The region’s economic progress, he said, does not match its education prowess.

“According to the 2022 Kenya Demographic and Health Survey, counties in Nyanza, with the exception of Siaya and Migori, recorded literacy rates above the national average. For women, the literacy rate in Nyamira stands at 99%, Kisumu at 98%, and Kisii at 96.5%. For men, the literacy rates in Kisumu and Kisii are at 99.4% and 98.4%, respectively,” said the CS.

While Nyanza has made impressive strides in education and human development, the CS added, the region is still faced with substantial socio-economic challenges that need urgent fixing.

“According to a study by the Kenya Institute for Public Policy Research and Analysis (KIPPRA), the six counties of Nyanza contribute a meager 10% to the national GDP. Similarly, the 2023 Gross County Product Report reveals that Nyanza accounts for only 4.9% of Kenya’s national manufacturing activities. This is a stark contrast to Nairobi, which contributes 36.9%, Mombasa at 9.6%, Kiambu with 8.4%, Machakos 7.6% and Kilifi at 4.6%,” he added.  

In order for the region to achieve its full economic potential, the CS said, there is an urgent need for investment in critical infrastructure, technology, and industrial development. 

“These investments will help address the gaps that currently limit our ability to fully contribute to the nation’s industrialization and economic growth.” 

The conference themed, “Nyanza Rising – Towards Economic Transformation for Socio-Economic Growth and Development” has been organized by the Nyanza Professional’s Forum in collaboration with the Lake Region Economic Block (LREB), with CS Ogamba and Eliud Owalo, the Deputy Chief of Staff serving as the co-patrons of the event.

Owalo said the idea of the conference was conceived in 2023, after looking in retrospect how Nyanza professionals were complaining of the region’s underdevelopment, only to take a back seat.

He said beyond the conference; the bigger vision is the establishment and operationalization of fish processing plants to boost Nyanza’s economic development.

“We want to facilitate in partnership with the private sector the establishment and operationalization of fish processing factories as a major intervention in the fish value chain,” he said.

“There is a plan to establish a total of 13 fish processing plants, and most of these are along Lake Victoria.”

On his part, NIIC chairman Jeff Olembe said they will shortly package opportunities discussed at the conference, before embarking on a marketing roadshow in foreign countries, especially the European Union (EU).

Kisumu governor Anyang’ Nyong’o, Homabay’s Gladys Wanga and Bungoma’s Ken Lusaka were among dignitaries in attendance on the first day of the conference. 

Curtains of the conference will come down on Saturday, February 08, 2025.