Nakuru – the most recently elevated city and the second richest county after Nairobi according to the Kenya Bureau of Statistics, is best suited to begin and establish your investments. Sitting approximately 160km northwest of Nairobi along the Nairobi – Malaba highway, it has a presence of a myriad activities including agricultural developments, tourism and hospitality. With the new City status there has been a growth in infrastructure advancement across the city of Nakuru.
What makes Nakuru your ideal selection for investment?
- Nakuru was elevated to a city late last year. This was after the Institute of Economic Affairs showed it is easier to start a business in Nakuru compared to five other urban areas. This was attributed mainly to the reduced tax burden that has made Nakuru more attractive to investors.
- The World Bank committed one billion shillings for urban growth projects, including upgrading slums, improve access to basic services and improvement of roads.
- Real estate is one of the sectors affected positively as the huge cash invested in infrastructure will automatically influence property prices upwards. The increase in demand of properties will lead to an increase in prices. Optiven Group Chief Executive George Wachiuri says, “Optiven will not be left out of Nakuru City. We are targeting to invest in gated communities and our footprint here has begun with the opening of an office to serve our customers better “
- The investment opportunities in Nakuru are vast. With the inclusive ecosystem and elevated topography, coupled with a conducive climate, agriculture then becomes the lifeline of the economy of Nakuru. It is possible for a farmer to have two seasons a year as 70% of the country’s land translates to productive land.
- It is also home of Kenya’s flowers – one of the countries’ leading foreign exchange earners, generating up to a billion dollars annually, according to Africa Business portal.
- Energy is among the major industries in Nakuru, where Olkaria fields produce all the country’s geothermal power while those at Menengai – the second largest surviving crater 2,500m above sea level, are planned to start production in the coming years.
- The Nairobi – Nakuru highway is set to be expanded to a dual carriage way and this eases traffic as the construction of a 3 billion shillings airport by the Kenya Airport Authority has been approved. The four lakes in the city offer beautiful scenery and opportunities for hospitality, accommodation and restaurant facilities.
Overall the future seems positive if the necessary steps are put to action. The environment is prevailing for business to thrive, the population is there to provide labour and services required with the infrastructural growth and amenities in the region a haven for higher standards of living. All these make Nakuru the next frontier.
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