The Kenya Development Corporation (KDC) and United Green, a UK-based private strategic investment group, have entered into a significant agreement, signing a Memorandum of Understanding (MOU) for a transformative $275 million (Sh41.9 billion) investment in climate-smart agri-food systems in Kenya. The signing ceremony was witnessed by Rebecca Miano, the Cabinet Secretary for Investment, Trade, and Industry, who highlighted the partnership’s aim to provide agri-fintech services to rural communities, promote high-productivity climate-smart farming, and establish state-of-the-art agro-processing facilities. The collaboration aims to open new markets for around 100,000 rural households and contribute to providing 1.5 million school meals annually over the next five years.
Rebecca Miano emphasized that the project would generate 2000 direct jobs, 5000 indirect jobs, and reduce Kenya’s annual food import dependency by approximately $200 million (Sh30.6 billion), thus contributing to a reduction in the country’s trade deficit. Miano stated that the initiative aligns with the Government of Kenya’s strategy and supports the national government’s Bottom-up Economic Transformation Agenda (BETA) Flagships.
Norah Ratemo, the Director General of KDC, expressed the partnership as a crucial support for the government’s initiatives in addressing climate change and enhancing food security in Kenya. Ratemo highlighted KDC’s commitment to collaborating with the government, development partners, and private sector stakeholders to implement innovative solutions for agricultural resilience and adaptation to a changing climate.
The UK High Commissioner to Kenya, Neil Wigan, commended the investment, stating that it aligns with the Kenyan government’s commitment to agricultural transformation, aiming to boost productivity, improve livelihoods, and strengthen food security in the face of global challenges.
Neil Carter, Chief Investment Officer of United Green, emphasized that the collaboration with KDC would provide practical solutions to mitigate the impacts of climate change and contribute to regional food security. He expressed pride in working with key development partners to build a sustainable and innovative business in the agricultural sector.
