As the curtain fell on the 1st Kisii Entrepreneurship Summit, investors have committed KShs.21billion worth of investments.
Kanoria Group from India has committed Sh 5 billion to establish a sugar complex in Kisii that will produce sugar, ethanol and power.
Group Chief Financial Officer Vinod Vora announced that his firm would construct the sugar complex that will initially crush 2500 tonnes and produce 86,000 tonnes of sugar, 7,500 litres of ethanol and 8 megawatts of power. The biomass waste will be used to make animal feed and other products.
The County Government has already identified land to house the project in South Mugirango Sub County.
The County also netted an investor in the infrastructure sector with Chinese firm Boleyn Magic Wall Panel Limited pledged to invest Sh 12 billion in a factory to produce pre-cast concrete housing solutions.
The firm will offer low cost housing solutions to the South Nyanza region and will create 10,000 new jobs in the area. Moke Gardens Director Harun Nyamboki who is a partner in the project said the firm was willing to buy land from locals for the project.
In ICT, leading voice, data and IP provider Liquid Telecom will invest Sh 6billion in connectivity projects. Chief Commercial Officer Paul Statham said his firm will invest in connecting the County Government with its devolved units, metro WiFi in Kisii Town and interconnectivity with Isebania along the Kenya-Tanzania border.
“The effect of this investment is that there will be improved mobile phone services, better retail facilities in Kisii Town and boost entrepreneurship due to the free WiFi. We hope to kick off the project in June this year,” said Stathum.
Governor James Ongwae exuded confidence that more investment commitments will be signed before the close of the Summit.
“We are looking forward to signing contractual agreements and MoUs with these investors. We shall do all within our hands to create an enabling environment for investors in health, infrastructure, trade and Industry as well as agribusiness,” said Ongwae.
Taiwan based entrepreneur Prof. Ken Ondieki announced he had made arrangements to repackage Kisii tea and use it to make whiskey and vodka in China.
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Videos
Kisii governor launches the county’s entrepreneurship summit in Nairobi
Kisii Entrepreneurship Summit 2016 Day 1
Kisii Entrepreneurship Summit 2016 Day 2 morning session
Kisii Entrepreneurship Summit 2016 Day 3 part 1
