County Government of Laikipia

The County Assembly has approved the Laikipia infrastructure bond issue paving way for the Executive to venture into innovative financing of transformative projects across the county.

  

This is a significant step in Laikipia County's strategy to grow its economy from 100 to 400 billion shillings in the medium term by supporting 5,000 SMEs, provision of water for production to triple agricultural production, and well-planned urbanization through the Smart Towns Initiative.

  

Other areas expected to boost the growth of the county economy are increasing manufacturing and processing five-folds, start mining, and electricity reticulation.

  

The county government has limited resources to undertake large projects at once to achieve accelerated growth and the bond funds will enable it to speed up development projects to realize benefits early then pay later.

  

Issuing the infrastructure bond is just part of Laikipia's innovative financing strategy for development. The projects will generate revenue to repay the loans and accelerate the growth of new businesses, jobs, and higher incomes.

  

On Tuesday, the Assembly passed a corrigenda motion that sought to include the infrastructure bond issue in the Debt Management Strategy Paper. The following day the MCAs amended the Budget before passing it.

  

This nod by the legislature paves the way for the Executive to implement the projects. These include desilting of Wangwaci dam and Ilpolei dams and development of 11 smart towns namely: Doldol, Naibor, Kalalu, Nanyuki, Matanya, Wiyumiririe, Nyahururu, Karuga, Kinamba, Mowarak and Pesi.

  

Only, Nanyuki's Veronica Ikunyua, Sosian's Jacob Edom, Igwamiti's Joseph Kiguru and nominated MCAs Catherine Nyawira, Irene Wacuka, and Catherine Kibue were opposed the county issuing the infrastructure bond.

  

But the majority of the MCAs praised the initiative saying it will benefit and transform the people of Laikipia greatly. Here are some quotes by a section of the MCAs as they debated the bond:

  

Hon. Zamzam Salma Hussein: This is not an issue Governor Ndiritu Muriithi but an issue of funding development projects that will greatly transform the lives of our people. Am more interested in Doldol town and Il Polei dam that will benefit from this funding.

  

Hon Chris Mark:Why should we deny Laikipia people development? What could we be doing in this House if we are not supporting development?

  

Hon George Karuiru: I challenge my colleagues(opposed to the Bond) to go through the process of issuing the infrastructure bond to understand it. Some counties are begging to be allowed to issue such a bond. The bond is not to personally benefit the Governor but all the people of Laikipia. It will enable Wangwaci dam in my ward to create more jobs which are in line with the President's Big 4 Agenda.

  

Hon Roberto Murage:The infrastructure bond will ensure the continuity of development which has been slowed down by the Covid-19 pandemic. Let's be sincere with ourselves - every ward will be a beneficiary of this bond issue. It's sad that some of my colleagues are opposing this bond yet their town is benefitting immensely. Ngobit people should know that I am supporting it for the sake of Wiyumiririe which has been given 93 million shillings.

  

Hon Daniel Nyausi:We're in devolution whose essence is to devolve development to the viollage level. The infrastructure bond will enable us devolve further down, that's why we want to make Doldol a smart town.

  

Hon Stephen Kagondu: We were initially opposed to this bond, but it's only fools who don't change their minds. Those members still claiming the bond will lead to the increase of business licenses should know that they are the same ones who approved the Finance Bill.

  

Sharubo Kaparo: The 15,000 Segera people that I represent are in need of development. The bond is beneficial to them and is grateful to the governor for this idea. I'l not waver in supporting development no matter the propaganda and hate directed to me.

  

Hon Kanyutu Kimani: The training that we underwent on the process has made us understand the infrastructure bond. Our bond issue is guided by the county's revenue collection in the last three years.

  

Hon Mary Samken: Contrary to what was being claimed, Governor Ndiritu Muriithi has not violated any law issuing this bond. I have decided to support it because of the interests of the Laikipia North people whom I represent.

  

Hon Mutahi Muritu: The bond will modernize Matanya which is my town.