Co-operative Bank of Kenya on Tuesday opened a third branch in Eldoret Town.
Speaking during the event, Uasin Gishu Governor Jackson Mandago, called on financial institutions to take advantage of the business in the region.
Mandago said the North Rift Economic Bloc is experiencing growth in all major sectors and financial institutions need to join in.
“Towns in the North Rift Economic Bloc are experiencing tremendous growths because of (bloc member counties’) unique potential,” said Mandago.
The Noreb chair said financial institutions need to join in the economic growth so that financial dynamics and realized, sustained and grown.
Currently, Uasin Gishu County is venturing into value addition of its maize and wheat, with Elgeyo Marakwet doing fruit pulp. The other counties are also tapping into their peculiar potential.
“Our growth is dependent on finances and that will in one way or another, require borrowings and financiers. This is why (financial institutions) need to open branches and extend coverage to the rest of North Rift.”
Governor Mandago also said his administration will always focus on providing a friendly environment for investment.
Julius Sitienei, the Director of Cooperative Bank, said Eldoret has potential for business, projecting that another branch could be established in another two years. There are three branches so far.
Eldoret town has over 50 financial instititions; banks, subsidiaries and financial companies included.