Big rush as banks
Scramble for Machakos
By Brian Masai
briosai@yahoo.com
As the end of the war of words between the governor and the senator seems to have died off, atleast for now, investors both from within and without the county seem to have engaged gears and put in their resources in a bid to not only put in their finances but also create a brand that curves a clean neat niche for them.
As is planned by the Governor of Machakos Dr. Alfred Mutua, Machakos tecno City is set to begin with the park already put up, the mega city that sparked different opinions from the residents of Machakos County is set to be one of its own covering an estimated 2200 acres.
Work hasn’t yet begun, a replica of what was the case of a proposed China city, the government of the day had issued a proposal for a mega city, a proposal which has never seen the light of day to date. But just as critics of the governor and his government raised their voices over the dream project and its legitimacy or relevance, the President, Uhuru Kenyatta made a maiden visit to the sight, commissioned the project and left the ball on the governor’s court again, nothing seems to be taking place, except for the building of the governors official residence. That aside, local investors seem to be putting their best foot forward in a bid to capture the rapidly growing market in Machakos.
Every piece of un- developed land seems to be sparking positive interest with the value of parcels of land within the precincts of Machakos town appreciating, some to as much as 200 percent of their initial value two years ago.
The Anchor, in an interview with Kalembe Ndile, who has heavily invested in Machakos town, it is evident his detours around the town purchasing pieces of land is not for nothing. For him, the pastures are yet to be greener as the future unfolds, “ very soon, land will be untouchable, it’s the only thing in this world that doesn’t depreciate” , he added
A tour by The Anchor in small towns along the Machakos – Nairobi Highway, and Chumvi turn-off revealed that the demand for land in the recent past has increased after the bedecking the 16 kilometer drive with street lights. As common law in Business dictates, the demand for non perishable goods and services is directly proportional to the cost.
Besides land, amenities like hotels in town haven’t been left behind either. Restaurants that have existed for over ten years in this town have either been edged off or forced to renovate owing to the fact that better and newer service providers are coming up. The competition is so immense that some hoteliers now offer top of the range serviced apartments for both short and long stay in Machakos. It is a concept just introduced by Kyaka Hotel- a state of the art new entrant in Machakos’s hotel industry.
Located behind Machakos Red Cross offices, Kyaka Hotel lifts Machakos to a class never anticipated before. Now there are apartments to live in when in Machakos to work or sojourn. You have the option to cook for yourself or enjoy the hotel’s kitchen output.
Peter Mulei and Son’s, a family that serves as evidence of growth in the business empire in the town and the single, most largest supplier of BIDCO products in this town has seen to it to ensure they offer not only the best but also the cheapest goods and services in their chain of supermarkets and hotels. They have besieged their competition- Naivas Supermarket in Machakos with Pioneer, Masaa and Express supermarkets. They are so strategically placed in the town that the competition is virtually barricaded. The Peter Mulei Mlolongo outlet is the harbinger of the outreach plan.
And now as an addition to their multi million investment, The Mulei’s have unveiled a state of the art Gymnasium, first of its kind in Machakos offering a wide range of facilities including steam bath and sauna, separate for men and women, never before seen in Machakos. You have the chance to shed your nagging weight by working out in the many fitness equipment- treadmills, dumbbells, aerobic gym, massage parlour, modern salon and barber shop- all under one roof.
Of course your privacy matters. And this is sorted out by a well laid membership plan that may well put paid intrusion by busy bodies, underlined by a reasonable fee.
In fact, life is fast changing in Machakos even before Mutua’s City and Konza ICT City are erected. It means that a growth impetus whether real or false has been created. There is growing evidence that people believe that there is hope for investment in Machakos. Universities have also trooped into the town to cash in on the growing population of young people seeking education to support the economy. The outcome is that all sorts of investors trooping to Machakos have pushed prices of parcels of land up to the roof even as Dr Mutua promises free land for investors. It is a contradiction that indicates that the forward swing for Machakos has just begun. And it must be sustained by hook or crook.
Machakos County, besides politics, has seen a growth in all the relevant sectors like education, banking commercial, transport, government and privateers. The unveiling of The Machakos University College among other Universities, has seen housing become unbearably expensive. Most houses that served as residential houses have since been converted to hostels, some so congested that a room housing two people in normal residential setting now houses twelve to thirteen students, evidence of how wanting housing is in Machakos.
As we went to press, nearly 20 banks have clocked into town. Rafiki DTB bank followed in the steps of Chase Bank, Jamii Bora Bank, Eco Bank, National Bank, K rep Bank,Equity, Faulu, Kenya Women Finance Trust, Family Bank, Universal Traders Sacco, Post Bank, Co-operative Bank, Kenya Commercial Bank, Barclays Bank and Standard Bank. There micro finance organizations on tow- Sisdo, Smep, Inuka, Bimas, Micro Kenya and Masaku Teachers Sacco. It is possible that there are more not listed and more are on the way. That there are so many banks in Machakos is an unmistakable statement of faith in Machakos. What remains strategic is how to make maximum use of these facilities and grow.
The Machakos county Government’s slogan, “Machakos county is the Place To Be” is also another reason that increases the cost of living. Many people have since relocated to Machakos, some with the hopes of investing while others with the hope of offering their expertise in those investments.
So the big question is, will Machakos handle the growing pressure? A feasibility study on the state of housing in Machakos town revealed that Machakos town is not ready for such rapid growth. The infrastructure is wanting and the financial institutions are not ready to give a lending hand to the willing but poor investors.
So, basically, more needs to be done to prepare Machakos county for the rapid growth. Healthy growth entails a balanced growth; when the business community is making huge strides to deliver quality goods and services, the government needs to come up with policies that ensure the trickledown effect; a theory that will ensure that the growth goes down from the upper class equally to the lower class.
