Kweneng Ventures, an investment arm of the Kweneng District Council (KDC), has signed a Memorandum of Understanding (MOU) with the Nyeri county in Kenya to purchase processed tea there and re-selling it locally.
In an interview with BusinessWeek, KDC Chairman Jeffrey Sibisibi said council delegates would be traveling to Nyeri in two weeks time, to finalise the agreement. “When they return from the trip, we will be able to tell how much tea we will get from the Nyeri county. We intend to buy processed tea in bulk from them and then package and distribute it locally,” he said. Sibisibi said this would be their way of empowering the community their district, thus creating employment.
He added that they also plan to open a warehouse in the Kweneng district. According to Sibisibi, the KDCouncil will fund this initiative as they have a major aim of empowering the Kweneng community while generating profits.
Kweneng Ventures, which is run by the board, is expected to soon hire a chief executive officer, who will devise a strategy that will ensure the tea deal generates profits while also hiring employees.
Further, Kweneng Ventures has several initiatives lined up to empower the community. The initiative include investing in a fire station and the building of an abattoir. Other projects in tourism, information business development and waste management are also in the pipeline. Kweneng Ventures is one of the initiatives that complement government’s efforts to encourage local authorities to drive economic development, growth and be self-sustainable.