Isiolo County is on the verge of a transformative economic leap, with projections to double its annual revenue from Ksh 285 million to an ambitious Ksh 581 million.
This remarkable growth trajectory is attributed to strategic interventions and robust revenue optimization initiatives outlined in a recent study by the Commission on Revenue Allocation (CRA).
Strategic Positioning for Prosperity
Located in the heart of Northern Kenya, Isiolo County’s unique geographic and economic positioning has been identified as a key driver of its potential for sustained economic growth.
The CRA, through its Acting CEO Roble Nuno, acknowledged the county’s significant strides in boosting its Own Source Revenue (OSR), which has already surged from Ksh 125 million to Ksh 285 million in recent years.
“This program is part of a broader effort to help counties optimize their revenue streams, expand their revenue base, and enhance administrative capacities,” Nuno stated.
He expressed optimism that with continued focus and investment, Isiolo is well on track to achieve its Ksh 581 million revenue target.
Revised Allocation Formula a Boost for Isiolo
Isiolo Deputy Governor James Lowasa lauded the CRA’s revised resource allocation formula, which will see the county benefit from an additional Ksh 1 billion.
This windfall is expected to further bolster Isiolo’s fiscal health and provide resources for revenue-generating projects.
“We are committed to maximizing every opportunity to boost our revenue and deliver tangible benefits to the people of Isiolo,” Lowasa said, emphasizing the county’s dedication to economic growth and sustainability.
Harnessing Key Revenue Streams
Lawrence Mwongela, the County Executive Committee Member (CECM) for Finance, Revenue, and Economic Planning, outlined a strategic roadmap to close existing revenue gaps and unlock new opportunities.
The county plans to capitalize on flagship projects such as:
Isiolo Abattoir: A critical facility for the region’s livestock trade, which has significant potential to generate consistent revenue.
Isiolo Market: A hub for local commerce that promises to increase business activity and revenue collection.
Isiolo International Airport: A gateway to trade, tourism, and investment, offering immense opportunities for revenue generation.
Mwongela emphasized that these projects, combined with effective management and oversight, would act as catalysts for the county’s financial success.
Focus on Revenue Diversification
Chief Officer for Revenue Services Feisal Hassan highlighted key areas for revenue growth, including land rates, sand cess, vehicle parking fees, and park revenues.
He underscored the importance of diversifying revenue streams to ensure long-term financial stability.
“We are implementing targeted measures to streamline revenue collection processes and ensure all potential revenue sources are fully tapped,” Hassan said.
Leadership Committed to Economic Transformation
Under the stewardship of Governor Abdi Hassan Guyo, Isiolo County is charting a sustainable economic path.
With a clear vision for growth and prosperity, the county government is leveraging its resources and partnerships to create a robust foundation for future development.
The county’s efforts to diversify and strengthen revenue sources not only ensure fiscal sustainability but also promise a brighter future for its residents.
As Isiolo continues to harness its strategic advantages and implement innovative revenue strategies, the region is poised to become a model of economic success in Northern Kenya.
By ICBNews
Business and Development Reporter