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Corporate

KCB eyes joint real estate venture with Nyandarua County

KCB has expressed interest in partnering with the Nyandarua County in putting up multi-million shillings tenant-purchase houses for civil servants working in the region.

Under the proposal, KCB wants the county government to provide free land and a master plan to enable it build housing estates for middle- and high-income earners.

The bank is also keen to partner with the county to invest in tourist facilities around Lake Ol’borossot and the Aberdare Ranges as well as invest in other business ventures in the region.

KCB director of mortgage business Joram Kiarie said this when the bank’s officials paid Nyandarua County Governor Daniel Waithaka a courtesy call at his Ol’Kalou town office.

He was accompanied by KCB general manager, government banking, Mohammed Musa and other officials.

Mr Waithaka said that Nyandarua had huge untapped resource and his administration was ready to partner with investors keen on injecting capital into development projects.

The Governor said that there was an acute shortage of residential houses in Ol’Kalou town, which is the county headquarters noting that majority of top civil servants in working in the area lived in Nakuru, Naivasha or Nyahururu towns.

“The number of man-hours, fuel, and money wasted as the workers shuttle from their homes to office is exorbitant and this has adversely affected service delivery to the public,” he said.

The governor was accompanied by his deputy Waithaka Mwangi, County Commissioner Wilson Njega and executive committee members.

He said his administration was willing to provide land for the development of the housing scheme as well as partner with the bank in building other facilities for the county government.

He added that the county had vast resources that had not been tapped, citing tourist attraction sites such as Lake Ol’Borrosot with rare birds and hippos and old white settler houses in the former Happy Valley in Kipipiri and Kinangop districts.

Mr Waithaka said governors from the Mt Kenya region recently held talks with the Kenya Wildlife Service on the possibility of tapping the potential of Mount Kenya and the Aberdares.

“Whereas a county like Narok generates billions of shillings from the Maasai Mara each year, Nyandarua County residents don’t earn much from the Aberdare ranges whose water is exploited by KenGen to generate electricity,” he said.

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