BONYO: Local investors a good starting point for investment forums

Every year, individuals as well as organizations draw ‘winning strategies’ to conquer the year. The government too does this to ensure they align their plans with the wishes of the masses, albeit on paper.

In Nyanza, investment conferences seem to be one such strategy that county governments are settling in to revive the fortunes of the region. Politically neglected for years and now finding its groove, what a better time to attract investors.

Already two international investment conferences have been lined up in succeeding months. The Nyanza International Investment Conference is set for early February. On the other hand, Siaya County is also in a race against time to host a similar engagement in March.

Globally, the idea of such meets is to showcase your best to attract investors. These range from the availability of factors of production as well as enabling legislative environments. This in-street banter would equal a sure bet to attract and retain investors.

As a financial journalist, I have followed most of the investment conferences that have been held in the country closely. The planning and pre-event engagements are always a buzz with optimism. However, the chatter dies soon after with little talk about the wins.

The question then remains, what exactly do these investment forums seek to achieve? A textbook answer would yield many responses. However, in practice, most organizers rarely find or crack the answer.

To illustrate this, ahead of the conferences, key organizers go around, seeking potential sponsors for the same. Depending on the relationship, several corporations line up to offer support. Banks and telcos lead this roll of honor, splashing millions of shillings to enable the conference to succeed.

The razzmatazz at the conference, well accompanied by lofty speeches aligned to the wishes of the participants generates necessary news media coverage. However, most end at just that. No follow-ups or if any, limited.

However, on the sidelines of these events is a vital group that, if well involved and packaged, would be the ray of hope in our crusade for external investors. Local investors play an important role in this ecosystem. The hotelier, the farmer, and the mid-sized manufacturer are a boon but always ignored.

The local investor brings to play the foreign investor’s wish list and experience. The accommodating environment and the available factors of production, illustrated in the glitz of the investment forum website, documentary, and pamphlets, are best experienced through existing local business people.

They offer firsthand experience of land availability for investors, the flexible county and country regulations, and the skilled human capital to all and sundry.

For counties though, a better approach would be to engage its bastion of professionals spread across an array of industries. These professionals come in with a wealth of global networks that can easily open the doors of a county to investors.

Ultimately, the mantra of we left home to change home can easily be achieved. However, the environment must be accommodating to rid it of political undertones or overtures.

That said, I wish every bit of success to the organizers of the Nyanza International Investment Conference and the Siaya Investments Conference.

Joseph Bonyo

Ramogi TV