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Economy: Is the glass half full or half empty?
Holding government to account does not mean forgetting where you are going! While no reliable is data is yet available (online sources estimate Sh130 billion in new private sector investments in the last three years), the effects are visible.
My explanation of the size of the Mt Kenya economy on Radio Generations last week elicited many comments on Tiktok. My point? Perspective drives action.
For all our difficulties, Kenya has immense opportunities. We should not squander them, imprisoned by self-pity, recriminations, and name calling. Rather, leaders should reduce their daily political battles, and inspire Kenyans to greatness.
Like all countries, we have our share of issues. But it is our positive action that will overcome these problems, not winning the cup for negative talk, knocking each other down, or political smear contests.
Here are some positives. Arvocap Asset Managers, licensed only 14 months ago, have raised five billion shillings in investment funds.
They are returning 14 to 62 percent depending on the fund. Kenya is attracting $1.5 billion per year in foreign direct investments (FDI). In 2023, $501,410, and $184 million went into ICT, financial and insurance services, and manufacturing, respectively.
Nairobi, the business and administrative capital, gets a big share. Mombasa capitalises on logistics, manufacturing, trade and now, the Dongo Kundu Special Economic Zone (SEZ). Turkana has oil. Marsabit has wind power. Machakos and Makueni counties have Koza Technopolis, Kenya’s Silicon Savana.
But, is the glass half empty or half full? That perspective drives the actions of political leaders. Compare two regions – the Central and Lake Region economic blocs. They have 10, and 14 counties respectively. What have they been up to the last three years?
The Lake Region Investment Forum (2024) showcased the area's economic opportunities, while the 3rd Lake Region Economic Bloc Forum on Natural Resource and Blue Economy (2024) highlighted sustainable resource management and blue economy initiatives. Prior conferences were in 2022 and 2023.
Investors pledged $200 million in agribusiness, renewable energy and technology, at the Nyanza International Investment Conference (2025). At the Business Ecosystem Summit (BES) 2023, $400 million was pledged. Another BES was held this year.
Meanwhile, in the Central economic bloc, there were no investment promotion efforts at regional level in 2023-25. Governors did, however, hold a Consultative Forum in Nakuru (December 2023), to identify flagship projects based on each county's competitive advantages in agriculture, manufacturing, transport, storage, and construction and real estate.
In October 2023, they discussed a draft Economic Blueprint to enhance production, promote regional industrial and manufacturing investments, and develop infrastructure.
Earlier that year, they decried National Government’s failure to fund coffee, avocado, pyrethrum, and macadamia, key sectors in their region,
The Lake Region also leads on county specific action. Homa Bay led the way with the International Investment Conference 2024 at the Tom Mboya University.
A second edition, it focused on leveraging partnerships with the diaspora, and attracted investors and various government agencies.
Migori County, in collaboration with the Kenya Chamber of Mines, organised the Nyanza Gold Summit 2025, a specialised investment forum on mining sector in Migori.
The Kakamega International Investment Conference, in March 2024 promoted the county, while the Siaya International Trade and Investment Conference 2025, is planned for this October.
With the Nyanza Professionals' Forum, Kisumu hosted the Nyanza International Investment Conference 2025. Earlier, the county brought the United Cities and Local Governments of Africa to the Afreximbank’s African Financial Sector Network (AfSNET) Conference in November 2024, to strengthen sub-sovereign participation in intra-African trade.
This September, Africa's Smart Cities Alliance (ASCA) Summit 2025, was in Kisumu. Delegates from across Africa explored opportunities in urban development and technology.
In the Central Economic Bloc only Muranga and Laikipia have held investment conferences in recent times. The Murang'a Investment Conference (June 2025) positioned Murang'a as an industrial hub, focusing on attracting investments in pharmaceutical manufacturing at the Murang'a SEZ.
Laikipia Economic and Investment Conference (August 2025) showcased the county's opportunities in agriculture, livestock, and tourism, attracting mainly local investors.
Nyeri County’s Avocado Caravan in June 2025 was a specialized investment forum for stakeholders in the agricultural sector. Nyandarua County Government’s investor breakfast in May 2023 focused on public-private partnerships.
Clearly, the Lake Region, long known for robust critique of this and previous governments, is busy on the investment front.
They can walk and chew gum at the same time.
Holding government to account does not mean forgetting where you are going! While no reliable is data is yet available (online sources estimate Sh130 billion in new private sector investments in the last three years), the effects are visible.
And if you doubt that PPPs work, look at Homa Bay’s brand-new HQ!
Ndiritu Muriithi is an economist and partner at Ecocapp Capital. He is also the chairman of KRA and former governor of Laikipia County. Email: [email protected]
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