Laikipia investors urged to get subsidized Ksh.2 billion from KCB

By KNA Correspondent, Muturi MwangiInvestors in tourism and hospitality in Laikipia County have been urged to take advantage of a subsidized KSh.2 billion from Kenya Commercial Bank (KCB) to run their businesses in wake of COVID-19 pandemic.  

Speaking to KNA at his Nanyuki office, Laikipia County Executive Committee (CEC) Member for Trade, Tourism and Cooperatives, Biwott Tirop has said that KCB partnership would enable businesses to stay afloat.

Tirop said, “We partnered with Kenya Commercial Bank (KCB) and we also expect Co-operative Bank of Kenya to come on board to help our investors have soft loans for capital expenditure and pay their employees, bill utilities and restocking of their businesses.”

He added that the county has subsidized the loan from 13 percent to 7.9 percent which is a relief to those running the businesses.

“The County has subsidized 7.9 percent which is a quite good relief to the investors around the country,” he said.

Tirop further noted that the opening of five counties which have been on partial lockdown due to the surge of covid-19 is a big relief to the businesses in the region.

“I am glad today the country is open, the five counties which have been on lock down are now open and we are hoping that Kenya Railway will return to their scheduled trips from Nairobi to Nanyuki on Friday and Nanyuki to Nairobi on Sundays.  That will be a great relief to the hospitality industry.  Nanyuki relies on external clientele as far from Nairobi, Nakuru and Mombasa. We are sure most traffic will come to this side,” Biwott noted.

Biwott appealed to hotels to lower their rates as a way of attracting local tourists.

“We all know the economy is down, it will be only fair enough hotel facilities to offer discounts so that everyone can enjoy. We are also expecting good discounts from Maya, Falcon, Panarion Hotel in Laikipia West and many others to come on board,” Tirop said

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