Poor use of funds denying Nyanza benefits of devolution, says financial expert

Financial expert Dr Akali Agembe during celebrations in Kisumu to mark his graduation with a Doctor of Philosophy degree in Business Administration (Finance option) from Kisii University. Faith Matete 

Financial expert Dr Akali Agembe has challenged county governments in the Nyanza region to urgently rethink their development strategies, warning that poor use of public funds has denied residents the benefits of devolution.

Dr Akali said the level of development in the region remains far below expectations despite years of devolution.

He described the situation in most Nyanza counties as worrying, noting that residents continue to struggle with inadequate infrastructure and limited economic opportunities.

He noted that the electorate entrusted county governments with resources and authority to transform their lives, but that promise has largely not been fulfilled.

“The zero or minimal development we are witnessing in Nyanza counties is alarming and not what devolution was meant to achieve,” Dr Akali said.

He was speaking in Kisumu during celebrations to mark his graduation with a Doctor of Philosophy degree in Business Administration (Finance option) from Kisii University.

He further blamed poor financial management and weak planning for the slow pace of development, arguing that many county administrations have failed to tap into professional expertise available within the region. 

Dr Akali urged governors and senior county officials to engage qualified financial experts to ensure public funds are managed transparently and invested in projects that have long-term impact.

During the event, Dr Akali also launched his book titled Financing and Governancing Growth Strategy for Driving Performance in Emerging Firms. 

He said the ideas discussed in the book are relevant not only to private enterprises but also to public institutions, including county governments.

“County bosses must change their development strategies if they want to see real transformation in this region,” he said, adding that strategic planning and accountability are key to unlocking economic growth.

Dr Akali, who is the Director of the Nairobi International Financial Centre Authority, also weighed in on the ongoing debate over political leadership and kingpinship in Luo Nyanza. 

He cautioned leaders against excessive focus on succession politics at the expense of development.

He said leaders allied to the broad-based government should prioritise delivering tangible benefits to the people rather than engaging in political rivalries. 

According to Dr Akali, the region’s pressing needs include improved road networks, reliable water supply, establishment of markets, and support for small and medium-sized enterprises.

“The Luo community should use its position in government to demand more development instead of fighting over who becomes the kingpin,” he said.

He added that the gains made so far through the broad-based government arrangement are still insufficient compared to the needs on the ground. 

Dr Akali called on cabinet secretaries, principal secretaries and other senior civil servants from the region to play a more active role in championing development projects for Nyanza.

Beyond his professional career, Dr Akali is also active in politics. He contested for the Suba North parliamentary seat in the 2022 General Election and has indicated his interest in seeking the seat again in 2027.

As counties prepare future budgets and development plans, Dr Akali’s remarks are likely to reignite debate on how devolved funds are utilised and whether county governments are delivering value to the people they serve.

Ends