Kenya launches flagship smart agri-food investment
Kenya Development Corporation (KDC) and United Green Group (UG) have signed a memorandum of agreement for the creation of an advanced US$275 million climate smart agri-food systems investment.
Over the next five years, the cooperation with the United Kingdom-based business is expected to produce agri-fin-tech services for rural communities, high productivity climate-smart farming, and cutting-edge agro-processing facilities, establishing new markets for at least 100 000 rural people.
Apart from increasing food security in Kenya and the region, the initiative will reduce Kenya's reliance on food imports by around $200 million per year, lowering the country's trade deficit.
Kenya, according to Rebecca Miano, cabinet secretary for investment, trade, and industry, must give leadership and sensible investment to establish inclusive, scalable, market-based, ecologically sustainable, and high-productivity agri-food systems.
"This project has incredible alignment to the Government of Kenya strategy and with the national Government's Bottom-up Economic Transformation Agenda flagships," she went on to say.
Climate-smart and sustainable farming, enhanced nutrition, job creation concentrating on women and youth, and inclusive and demand-driven consumer markets will be the emphasis of the Agri-Food Investment.
KDC director general Norah Ratemo described the collaboration as an important step forward in the organization's efforts to adapt to climate change and address food security in Kenya through technical advancements.
"At KDC we are committed to fostering resilience and adaptation across the agricultural sector," she added in a statement.
Neil Carter, the UG Investment Officer, agreed.
"We are proud to be working in partnership with such committed partners in KDC and the Government of Kenya to deliver real-world solutions to address the impacts of climate change and deliver regional food security," Carter said in a statement.