A Kenyan fresh produce company has announced a U.S$20 million investment in value addition, a move inspired by President William Ruto's visit to the United States. AvoVeg Health, led by CEO Nathan Loyd, plans to commence this investment in the third quarter of 2024.
The firm, which primarily exports avocados and vegetables to Europe, aims to introduce advanced machinery for processing and packaging avocados to mitigate post-harvest losses and benefit thousands of Kenyan farmers.
"Our new value-added venture will solve the huge challenge our farmers face due to wastage issues and benefit thousands of farmers across our nation," Loyd stated. The initiative includes the introduction of a guacamole processing machine, expected to significantly reduce avocado wastage. Loyd underscored the alignment of this investment with President Ruto's economic and innovation goals. Loyd's participation in the Prosper Africa initiative, facilitated by Ruto and US Ambassador to Kenya Meg Whitman, highlighted the potential for enhanced trade and investment between Kenya and the United States, particularly in horticulture. The venture, supported by the Kenyan government and substantial financial investment, aims to transform Kenya's agricultural sector.
Source: the-star.co.ke