14 County Assemblies have 3 months to ratify bill on formation of the regional Block.

 The Chairman of the Lake Region Economic Bloc{LREB} Wickliffe Oparanya{R} being flanked by LREB Acting Chief Executive Officer Abala Wanga when he made familiarization tour at its secretariat in Kisumu yesterday.-Photo By James Keyi. 

By Dickson Odhiambo

March 30, 2018

14 County Assemblies have 3 months to ratify bill on formation of the regional Block.

 A TOTAL of 14 County assemblies from 14 county Governments in the larger Western Kenya region have three months to ratify a Bill for the formation of the Lake Region Economic Bloc {LREB}.

The Chairman of the Lake Region Economic Bloc{LREB} Wickliffe Oparanya says it is required that the 14 County Assemblies ratify the Bill so as to legalize the formation of the Bloc Comprising of 14 County Government which have agreed to come together with an aim of serious economic empowerment.

The 14 Counties under the bloc include Kisumu, Siaya, Homa Bay, Migori, Kisii, Nyamira, Kericho, Nandi, Bomet , Trans Nzoia, Vihiga, Kakamega,Bungoma and Busia.

Speaking in Kisumu during a familiarization tour of the Bloc’s Secretariat at Prosperity House on Thursday this week, Oparanya said so long as a third of the 14 county Assemblies will have ratified the bill then the remaining ones will be bound to it.

Oparanya says after the ratification of the bill, this will enable the bloc to form bank account and to provide oversight as required.

Oparanya who is also the Kakamega Governor says the 14 county Government have identified flagship projects that they can undertake as a bloc after the formation of the Lake Region Economic Bloc.

“We have identified some flagship projects that we can undertake as a bloc and we have been greatly assisted by the World Bank and a professional consultant firm known as Deloite,” he says.

The chairman says the 14 counties have also agreed to form a region Bank where each county is expected to contribute shs 200million for its formation.

He says already Kakamega County has put the shs 200 Million in its budget towards the formation of the regional Bank for the Bloc, adding that Kisumu has already committed shs 100 million.

“We have also agreed that a regional bank will be formed by this bloc so as to support our people through viable economic activities and each county will contribute a share capital of sh 200million towards this,” Oparanya adds.

He adds that by October this year, the flagging off of the regional bank will take place and thereafter be used as a vehicle to spur economic development.

Lake Region Economic Bloc Acting Chief Executive Officer Michael Abala Wanga says already the office of the Controller of Budget has approved the project and has given them a go ahead so as to establish the Bank under the bloc’s entity.

“We are at a very advanced stage of a formation of a bank and what is still delaying us now is the injection of the capital where each county is supposed to contribute shs 200million.This money is deducted by the Central Bank of Kenya for the specific County and Kakamega County has given its 200 million while Kisumu has contributed shs 100 million towards this,” Wanga says.

The Lake Region Economic Bloc {LREB} is a conglomerate of fourteen counties which have integrated for purposes of socio-economic development and regional prosperity.

The 14 Counties have similar ecological zones and natural resources; they have analogous cultural histories that date back to historical migrations and trading routes.

A partnership between the counties is both essential and timely and creates a practical framework through which county government efforts can be pooled to harness the abundant natural resources, build on existing strengths and address challenges.

LREB’s economic Blueprint was born out of the understanding that strategic connections between counties with shared interest seated in a desire for mutual benefit can be an effective intelligent means of increasing the possibility of creating notable development impact across several counties.

It has a vision of being a world class bloc in promotion of sustainable, equitable socio-economic development for a better life while its mission is to achieve sustainable development through coordination, promotion, resource mobilization, innovation and enhancement of equitable economic integration in the Lake region.

 ENDS: