Sh2bn Busia market set to boost cross-border trade

Traders in Busia market will benefit from Sh2 billion market to be built at the Kenya-Uganda border.

The 10,000-capacity Jumuiya market will provide for secure all-weather space, stores, stalls and cold rooms for perishables produce.

Busia border point is strategically located along the Northern Corridor. It is an important gateway into the east and central African region.

The project is being funded by both the government of Kenya and the TradeMark East Africa (TMEA).

The Treasury and TMEA Wednesday signed four financing agreements of $13.1 million to support the construction of infrastructure projects in Mombasa, Malaba “with part of it going towards the Busia market.

“TMEA will partner with Ministry of East Africa Community to oversee the construction of the retail section. The Sh559 million comprise Sh74.3 million from GoK and Sh485 million from TMEA as captured in the financing agreement,” said the Ministry of EAC.

The market will be constructed on a 40-acre piece of land in Marachi on the Kenyan side of the border, which adjacent to the One-Stop Border Post.

The market will comprise a retail section, a business hub and a wholesale section. A retail Section will include all-weather stores, stalls, and cold rooms to accommodate at least 2,000 traders.

A business hub will accommodate service providers such as banking, transport logistics, forex bureaus, insurance firms, pharmacies, eateries, consulting firms, legal services, beauty shops and barbershops.

The market will be constructed on a phased approach, beginning with the retail section for which funds are already identified.

The project is set to increase the volume of cross-border trade between Kenya and EAC partner states micro, small and medium enterprises.