The county government of Kisumu and a British-based private strategic investment group has signed a flagship agriculture investment program that is set to revitalize the agricultural sector.
The Sh 31 billion co-investment deal was signed in London on Wednesday by the Kisumu governor.
The partnership is between the United Green of the UK and the County Government of Kisumu.
The deal was sealed at a ceremony witnessed by among other top government officials - the trade CS Moses Kuria on behalf of the national government.
On Thursday, the governor said the signing of the MoU was the first step towards a long-term collaboration geared towards enhancing agricultural production in the county and the region.
The collaboration, according to Nyong'o is meant to enhance food security and boost trade in agricultural commodities.
" The MOU signed in London, United Kingdom, envisages direct investments of up to Sh31 billion in various crop value chains in the medium to long term, by the private investment company and other partners in the project," Nyong'o said.
The governor revealed that pre-production activities are expected to commence at the start of the next financial year.
"This is a landmark joint venture that will change the food security situation in the country significantly," he said.
Nyong'o assured that the county government of Kisumu will do its part for the achievement of the noble initiative.
He further noted that the lead partners in the project- United Green and the national government’s ministry of trade have shown the strongest commitment to the success of the collaboration.
Nyong'o said the project will not only address the food security in the region but will offer thousands of job opportunities to people living in the catchment areas.
He said his administration will avail land for the project.
" As a government, we are committed to availing land needed for this project," he said on Thursday.
The governor observed that the investment will support the Kenyan Government’s strong commitment to increasing productivity, youth participation and employment within the development of local agriculture and associated industries, and strong demand for high-quality, safe food products.
" This project will also deliver the largest and most modern integrated crop and agro-industrial processing system in Kenya," Nyong'o said.
United Green is a British-based private strategic investment group with specialist expertise, investment and operating record of accomplishment in developing and managing large-scale Greenfield business enterprises globally across multiple sectors.
The Kenyan investment project is part of its’ Five years’ agro-food capital investment strategy, via UK investment holding company UG Nutrition Limited.
It seeks to deliver both highly attractive economic returns and positive environmental and social outcomes within rural communities.
Its other objective includes maintaining a constant supply of high-quality, nutritious, and safe agricultural commodities and consumer-branded products for Kenyan consumers.
