Nyanza International Investment Conference 2025 opens with calls for urgent economic transformation
The Nyanza International Investment Conference 2025 opened at Ciala Resort in Kisumu, with Deputy Chief of Staff in the Executive Office of the President, Eliud Owalo, delivering a keynote address urging urgent and strategic investments to unlock the region’s vast economic potential.
Speaking before a distinguished audience that included Deputy President Professor Kithure Kindiki, who represented President William Ruto, alongside cabinet secretaries, governors, principal secretaries, development partners, and investors, Owalo painted a compelling picture of Nyanza’s challenges and opportunities.
He called for an end to decades of economic neglect and political marginalization, emphasizing that despite its abundant natural resources, skilled workforce, and strategic location, the region continues to lag behind.
He highlighted that Nyanza still struggles with high poverty levels, youth unemployment, and inadequate infrastructure, despite its vast agricultural potential and being home to Africa’s largest freshwater lake.
He revealed that 40 per cent of the region’s population lives in abject poverty, while Nyanza counties contribute only 9.3 per cent to Kenya’s manufacturing sector, with each of the six counties recording an average Gross County Product of just 1.5 per cent.
Additionally, critical sectors such as agriculture and healthcare remain underdeveloped, exacerbating the region’s economic struggles.
Owalo called for a complete rethinking of Lake Victoria’s role in the region’s economy, emphasizing its potential as a gateway for regional trade, a driver of fish processing, and a hub for tourism.
He urged stakeholders to invest in lake transport, value addition in fish processing, and the modernization of processing plants, pointing out that the Lake Victoria Ring Road is a game-changer that will connect communities, boost regional trade, and open up new tourism opportunities.
He outlined several priority investment areas aimed at transforming the region’s economic landscape, including modernizing Ahero and West Kano Irrigation Schemes to increase rice production, reviving cotton farming to support the textile industry and expanding sugar production following the enactment of the Sugar Act 2024.
In manufacturing and industrialization, he proposed establishing processing plants for fish, hides, coffee, and sweet potatoes to create employment and increase value addition.
He also emphasized the untapped potential of mining, particularly at Macalder mines in Migori, which hold significant gold, copper, and zinc reserves.
Infrastructure, Owalo noted, is a crucial pillar for economic growth. He cited the planned Standard Gauge Railway (SGR) extension to Kisumu, Malaba, and Isiolo by 2027 as a game-changer that will improve trade and logistics.
He also identified key energy projects, including the 60MW Sondu Miriu hydroelectric plant, Koru-Soin Dam, and the 120MW Magwagwa Multipurpose Dam in Nyamira County, which will provide clean energy and water for irrigation, industry, livestock, and domestic use.
Calling for immediate action, Owalo urged investors, development partners, and government stakeholders to seize the immense opportunities available in Nyanza.
He emphasized that the time for discussions is over, and now is the moment for action, stressing that Nyanza’s future should be defined by economic transformation rather than political rhetoric.
He reassured investors that the Kenya Kwanza administration remains committed to fostering an inclusive and investment-friendly environment that supports sustainable economic growth.
With bold strategies outlined and a call for collective action, the Nyanza International Investment Conference 2025 signals the beginning of what could be a transformative economic journey for the region.