Kenya is seeking to cut food imports by US$200 million per year through a partnership with UK-based company, United Green Group (UG).
- The resultant partnership will deliver agri-fin-tech services for rural communities, high productivity climate-smart farming and state-of-the-art agro-processing facilities, creating new markets for at least 100,000 rural households over the next five years.
- The investment in partnership with Kenya Development Corporation (KDC), will adopt a rigorous development approach in the agri-food sector, which seeks to improve food security for Kenya and the region.
- The venture will reduce Kenya’s dependence on importing food commodities by approximately US$200 million annually, thus reducing Kenya’s trade deficit.
The Agri-Food Investment will focus on climate-smart and sustainable farming, improved nutrition, job Creation focusing on women and youth, inclusive and demand driven consumer markets.
“Kenya needs a champion organisation to provide leadership and prudent investment, to develop inclusive, scalable, market-based, environmentally sustainable and high productivity agri-food systems,” Rebecca Miano, Cabinet Secretary Ministry of Investment, Trade and Industry.
Speaking during the MoU signing, KDC Director General Norah Ratemo said the partnership with the United Green Group is a significant step forward in our efforts to adapt to climate change and address food security in Kenya.
“At KDC we are committed to fostering resilience and adaptation across the agricultural sector. We continue to work closely with the Government of Kenya, development partners, and private sector stakeholders to implement innovative solutions that will enable our farmers to thrive in a changing climate,” Ratemo said.
UK High Commissioner, Neil Wigan said “The UK Government applauds the strong commitment and close collaboration shown by British Company United Green, and Kenya Government, in this truly transformative investment in Kenya’s agri-food sector.”
One in Five People Face Hunger in Africa – FAO (kenyanwallstreet.com)
