Muranga County Governor Irungu Kang'ata.
Governor Irungu Kang’ata has invited investors to Murang’a as plans to industrialise the county move in high gear.
Governor Kang’ata urged manufacturers to build factories in the county and create employment opportunities for young people.
The governor said his administration had already allocated land for the project in a specific location with favourable prices and application procedures.
Dr Kang’ata said to prevent investors from using the land for speculation purposes, they will be required to start development projects within six months of getting an allotment. He said that phase one of the project should be completed within a year.
Renewable lease of 30 years
"We promised investors that by October 2025, land documents would be available. We have now received the requisite survey documents, hence this formal invitation," the governor said.
In a notice published in the Daily Nation, the county government has invited investors to apply for allocation of land. Successful applicants will be given a renewable lease of 30 years.
“Successful applicants must pay the full consideration within four weeks from the date of notification of award. Allottees must commence construction within six months and complete, at least one phase of the project, within 12 months. Failure to comply will lead to repossession of land by the county,” the notice reads in part.
Murang'a Governor Irungu Kang’ata.
The application is open to both local and international investors. Individuals who had expressed interest during Murang’a County’s first investment conference are also included.
On June 13 and 14, the county government held an investment conference at Thika Greens Hotel where it made a pitch for companies to consider investing in the devolved unit.
The county government has set aside 1,300 acres of land to establish an industrial park. Out of this, 500 acres will be used for an Economic Processing Zone (EPZ) and a Special Economic Zone (SEZ) will be established on the remaining 800 acres.
Individuals interested in investing in the EPZ will get 10 years corporate tax holiday, 10 years withholding tax holiday, 100 per cent investment deduction on new investment as well as operation under one licence.
Establish manufacturing industries
Other benefits include; zero-rated tax on supply of goods, exemption of executing documents from stamp duty and exemption from payment of withholding taxes on royalties.
“We encourage investors to take advantage of the incentives and establish manufacturing industries and businesses. This will create jobs for our youth,” Governor Kang’ata said during the investment conference that was opened by President William Ruto.
“We expect to boost our own source revenue, create jobs, and have factories that can add value to farm produce grown by Murang’a farmers. With its rich agricultural produce, including avocados, tea, coffee, milk, mangoes, and maize, we believe that factories will help increase farmers' incomes, and not only improve their livelihoods, but also contribute to the county's economic growth,” the governor said in an interview on Monday.
Last week, Dr Kang’ata led a delegation to Jinan in China, where he met state officials who indicated willingness to support businesses to invest in Africa.
