from MARIA MACHARIA in Nairobi, Kenya
NAIROBI, (CAJ News) – KENYA Development Corporation (KDC) has signed a memorandum of understanding with United Green Group (UG) to develop an advanced US$275 million climate smart agri-food systems investment.
The partnership with the United Kingdom-based group is anticipated to 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.
Apart from improving food security for Kenya and the region, the venture will reduce Kenya’s dependence on importing food commodities by approximately $200 million annually, thus reducing Kenya’s trade deficit.
Rebecca Miano, Cabinet Secretary for the Ministry of Investment, Trade and Industry, said Kenya must provide leadership and prudent investment to develop inclusive, scalable, market-based, environmentally 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 said.
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.
Norah Ratemo, KDC Director General, said the partnership was a significant step forward in its efforts to adapt to climate change and address food security in Kenya using technological innovations.
“At KDC we are committed to fostering resilience and adaptation across the agricultural sector,” she said.
Neil Carter, UG Investment Officer, concurred.
“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.
– CAJ News