UN-Habitat is assisting the Homa Bay County government in the improvement and transformation of Nyakwere open air market in Homa Bay, Kenya. Nyakwere open air market serves over 20,000 people in Wan’gchieng ward. Most of these people are subsistence farmers and small traders. People from neighboring counties such as Kisumu, Kisii, Migori, Kericho and Siaya benefit from the market. Upgraded market is expected to trigger a ripple effect in the area by increasing economic activity and reducing the level of unemployment. The new market will also increase revenue the County Government is generating from it.
Infrastructure development, such as upgrading of local markets and public spaces and improving access to roads, is a vital component of local economic development. Development of local markets in rural market towns stimulates local economies because there is a strong positive correlation between good infrastructure, effective provision of public goods and overall economic expansion. Economic expansion is reflected by increased investments, land values and level of industrialization.