The Lake Region Economic Bloc is set to hold its inaugural conference in Bomet County on 23rd to 26th October, 2018 under the theme “Optimizing Shared Resources for Prosperity”
Speaking during a briefing to the media at the LREB headquarters in Kisumu, the bloc’s Chairman H.E. Wycliffe Ambetsa Oparanya also announced that financial advisory giant organization Deloitte East Africa has been identified through a competitive procurement process as LREB’s advisor in the formation of the bloc’s regional bank.
Under the LREB economic Blueprint on the establishment of a regional bank as a flagship project under the financial services pillar to assist residents with access to favourable financial services. So far Shs. 700 million has been allocated in annual budgets by member counties for the bloc as their assemblies work round the clock to pass the Lake Region Economic Bloc Bill 2018. Kakamega County was the first of the 14 counties to pass the bill, which the Governor lauded as leading by example.
Governor Oparanya said the conference has so attracted many partners and thanked those who came on board earlier such as Ford Foundation and USAID-Ahadi. Ford Foundation supported the formation of the LREB Secretariat to the tune of Shs.18million with Ahadi giving support in capacity building and sensitization of county Assemblies and the public. He said United Nations under the UN- Sustainable Development Goals (UN-SDG) will, during the Bomet conference, hold a two day Symposia on Blue Economy and Universal Health Coverage. “The LREB is a powerful bloc and from our coming together, the national government has considered it wise to come up with legislation to guide other regions interested in such formations,” he added.
Bomet County Governor and LREB Vice Chairperson H.E. Dr. Joyce Laboso who flanked Governor Oparanya welcomed residents from member counties and all stakeholders to her county for the Conference saying it will offer much needed investment opportunities to stakeholders.
The Lake Region Economic Bloc 3rd Summit will be held In Nandi County on 21st September 2018, Governor Oparanya announced. Present also was LREB CEO Abala Wanga and Mr. Paul Posho the Economic Advisor in the Office of the Governor, Kakamega County.
The Lake Region Economic Bloc (LREB) consists of the 14 counties around Lake Victoria and its environs namely Siaya, Homa Bay, Migori, Kakamega, Bungoma, Busia, Vihiga, Trans Nzoia, Kisii, Nyamira, Bomet, Nandi, Kisumu and Kericho. The objective of the Bloc is to leverage the economic of scale (the Bloc has approximately 14 million People) and shares resources such as Lake Victoria in order to grow the economics of the region and improve the livelihood of the people. With this objective in mind, the Governors of these counties commissioned Deloitte and Touche’ to develop the Lake Region Economic Blueprint as a roadmap to the development of the Region. The Blueprint was launched by H.E the president in April 2015.
The Blueprint identifies seven pillars as the focus of development in the region. These are agriculture and tourism as the productive pillars; health and education as social pillars; and the enabling pillars of ICT, Infrastructure and Financial Services. The Governors have put in place a Secretariat, based in Kisumu County, whose main function is to coordinate and facilitate the implementation of the Blueprint. However, there is no specific policy or legal instruments, both at national level or county level, to guide and regulate this economic bloc in its operations and activities