NCBA Group has reaffirmed its quest to grow Kenya’s industrial sector and sustainable development of communities. The banking group made the commitment during a tour led by NCBA Kenya Chairman, Isaac Awuondo, and Group Managing Director, John Gachora, at the recently inaugurated West Valley Sugar Factory in Kericho County, which was constructed in a record time of just over one year.
The West Valley Sugar Factory (WEVAS), owned by the West Valley Sugar Company, a subsidiary of the Kipchimchim Group of Companies, is a result of a collaborative effort and strategic partnership. The factory, located in Kericho County, marks a significant milestone in the region’s economic landscape, with its parent company also operating the renowned Kipchimatt Supermarkets.
In 2022, NCBA financed the establishment of the Ksh3 billion sugar milling plant which has employed over 600 locals. Through the partnership, it took a record 14 months to complete operationalization of the West Valley Sugar Company Limited which is faster compared to the two years it takes operationalize a factory.
The company has been operational for two months and has since employed over 600 locals in the factory driving the local economy and providing essential services that have a multiplier effect on the region.
The company produces 2,200 bags of 50kg sugar daily. Beyond industrial achievements, the Kipchimchim Group of Companies, led by Group Managing Director Bernard Soi, emphasized the need to prioritize community empowerment.
During the tour, NCBA Group Managing Director John Gachora emphasized the critical role of partnerships in driving progress and growth, acknowledging NCBA’s instrumental role as the financial partner in establishing the West Valley Sugar Factory. “Our spirit of partnership fuels collaborative growth. Our involvement in the establishment of the West Valley Sugar Factory was a strategic partnership aligned with our shared vision of fostering economic growth and sustainable development,” Mr Gachora said.
Through its collective spirit and collaboration, Mr Gachora said NCBA Group has created a legacy that fosters development and contributes to economic growth by creating job opportunities, stimulating support businesses and enhancing the overall economic ecosystem in the South Rift region.
“We offer community initiatives that encompass comprehensive agricultural training, sustainable farming practices, and access to quality fertilizers, alongside educational programs focusing on renewable energy sources,” said Mr Soi, the West Valley Sugar Factory MD . “Our commitment extends to innovative solutions like utilizing bagasse to power homes.”
Furthermore, the Kipchimchim Group’s dedication to sustainability aligns with NCBA’s agenda. The company uses Green Energy generated from Bagasse. It generates 3 megawatts of power through bagasse recycling, using only 2 megawatts of this to power the factory.
In honour of the late founding chairman, Mr Samuel Ngetich, the bank planted 10 trees jointly during the event and donated 1,000 seedlings to the company for onward distribution to the community.
This strategic collaboration between NCBA and the Kipchimchim Group of Companies stands as a beacon of progress, illustrating the transformative power of partnership in fostering industrial growth and community development.
