By SAMUEL OWIDA: Principal Secretary for Micro, Small and Medium Enterprises (MSMEs) Susan Mang’eni has challenged the Nyanza and Western regions to awaken their vast economic potential and claim a bigger share of Kenya’s prosperity after decades of political struggle.

Describing the two regions as “sleeping economic giants,” Ms Mang’eni said it was time to translate the political liberation championed by the late Raila Odinga into economic liberation for local communities.

She was addressing entrepreneurs, professionals and investors from Nyanza during a business conference at Nairobi Club.

“The political liberation has been achieved. The next frontier is economic liberation,” she said, urging Nyanza professionals to mainstream young people into entrepreneurship and investment.

Ms Mang’eni highlighted opportunities created by the Government and partners such as the World Bank to accelerate economic growth, investment and enterprise development in the region.

Investing at home

Kenya National Chamber of Commerce and Industry (KNCCI) National Director Ken Onditi, who convened the forum, called on professionals, leaders and residents to embrace home-grown investment.

He said the region could no longer afford to watch its resources, talent and opportunities remain underutilised.

“Enough is enough. We must lay a solid foundation to accelerate opportunities for the younger generation through incubation,” Mr Onditi said.

He added that unlocking Nyanza’s potential must deliberately create space for women, noting that commitment and effectiveness were essential ingredients for growth.

Dr Maxwell Okoth, a director at KNCCI Nairobi, urged investors to look inward rather than abroad.

“If you are a businessperson, do not look far. A parcel of land that used to cost Sh200,000 now goes for Sh2.5 million. The opportunities in Nyanza are huge,” he said.

Dr Okoth said the planned Lake Victoria Ring Road would be a game changer, opening up trade, tourism and investment across the region.

Tourism and hospitality

Utalii College Chief Executive Officer Mark Rachuonyo challenged Nyanza professionals to stop leaving valuable assets idle in rural areas.

He said many professionals had built homes and castles in their rural homes that could be converted into tourist accommodation, especially as the region positions itself as a hospitality and tourism destination.

“Nyanza is the new kid on the economic block. With the Lake Victoria Ring Road set to run from Busia County to Muhuru Bay in Migori County, the opportunities must be exploited,” Mr Rachuonyo said.

He urged professionals to redirect investment from Nairobi’s already saturated high-end estates back to their home region.

“We have been professionals for long enough. We must now be investors,” he said.

KNCCI President Dr Eric Ruto said Nyanza had the potential to contribute Sh1.2 trillion to Kenya’s Gross Domestic Product (GDP) annually.

He cited agriculture as a major opportunity, revealing that China had a demand for cassava flour amounting to five million metric tonnes, valued at about Sh260 billion, with a tonne priced at Sh52,000.

Auditor-General Emeritus Dr Edward Ouko called on stakeholders to push for a coordinated economic transformation agenda to industrialise Nyanza.

Dr Ouko, who chairs the Kisumu Lakefront Development Corporation, said the lakefront offered immense investment opportunities and disclosed that the corporation was working with the African Development Bank to position Kisumu as an investment hub.

Youth, women and value chains central

Apicotech Director George Mboya said the boda boda sector alone generates about Sh20 billion annually in Homa Bay County, yet the region continues to experience near-total brain drain as young people migrate to Nairobi in search of opportunities.

He argued that Nyanza must create local enterprises and industries to retain its youthful talent.

Women entrepreneur Dr Pamela Olet urged KNCCI to support the dairy industry in the Lake Victoria Basin, which she described as an underutilised value chain with huge returns.

Siaya-based fashion designer Akinyi called for structured offtake arrangements for cotton production, saying the sector could generate sustainable economic benefits across the region.

The conference ended with a unified call: Nyanza’s professionals must move from building careers to building enterprises, and from sending money home to investing where it can create jobs, wealth and lasting economic transformation.