Advertisement

US agency offers Sh644m grant to 7 firms in Kenya

US agency offers Sh644m grant to 7 firms in Kenya
United States Agency for International Development (USAID). PHOTO/Courtesy

The United States Agency for International Development (USAID) has extended grants worth $5.1 million (Sh644 million) to Kenya’s seven firms in the agricultural sectors to support production amid biting food crisis in the country.

The grant will specifically go towards supporting the purchase of fertiliser and solar irrigation, with an aim of increasing their income levels and create job opportunities in the sector, the key elements that were used to pick the beneficiaries.

The grant is in collaboration with Prosper Africa, a US trade and investment initiative. USAID estimates that about one million farmers could benefit from the grant either directly or indirectly. The firms awarded the grant includes Sanergy Inc which got $1.2 million (Sh156 million) to support the distribution of the firm’s human waste fertilisers, create about 277 jobs, and partly invest in establishing its $7 million (Sh910 million) processing facility.

iProcure Limited also got $1.2 million while Exotic-EPZ Kenya Limited received $1 million to boost the quality and quantity of macadamia nut production and exports. “Looking in the future, USAID remains committed to support Kenya farmers access US market. We are all with Kenya in tackling the challenges faced in the agriculture sector,” said Country Director David Gosney.

He spoke yesterday after the third edition of the America Chambers (AmCham) Business Summit that will end today. The Summit is designed to enhance business-to-business and business-to-government engagement. President William Ruto is expected to attend the summit today.  Others agriculture companies that benefitted include Sunculture and Afrimac Nut Company which received $800,000 (Sh104 million) and $450,000 (Sh58 million), respectively. $300,000 (Sh39 million) went to Goshen Farm Exporters Ltd through its Kenya Crop and Dairy Market Systems (KCDMS) activity.

The last beneficiary, Victory Farms received an undisclosed amount which will go into quadrupling its operations over the next five years.                

Author Profile

For these and more credible stories, join our revamped Telegram and WhatsApp channels.
Advertisement