Crops

Kenya secures billions in new investment deals to agricultural jobs. (Image credit: Capital Business)

President William Ruto has announced a major boost for Kenya’s economy, unveiling over US$2.9bn in 20 new investment agreements expected to generate around 63,000 jobs.

These deals cover key sectors such as agriculture, manufacturing, ICT, business process outsourcing, healthcare, energy, and real estate.

Many of the projects are already underway, with some having broken ground, reflecting strong confidence from investors. The President highlighted the scale of commitment, saying, “We are not just talking about numbers; we are talking about real investments, including US$1bn in agriculture alone.”

Daniel Chapo, President, Ruto, said, “In direct response to investor feedback, Kenya is implementing a new package of cross-cutting policy actions designed to remove long-standing investment bottlenecks and significantly enhance the ease of doing business.”

The government has introduced measures to strengthen tax systems, including VAT refunds for export driven firms and clearer transfer pricing rules. Other steps include zero rating VAT on exported services and scrapping the 30 per cent domestic equity requirement for ICT companies, opening the door for more global investment.

Ruto also pointed to the One Stop Investment Centre, which is set to become fully digital by 2026. “By the end of 2026, this platform will be fully digitised, enabling permits and licences to be secured entirely online, reducing costs and improving efficiency for investors,” he said.

Beyond policy, the government is investing in infrastructure, energy, and workforce development to support long term growth. Ruto noted that Kenya’s economy remains stable, with rising foreign investment, lower inflation, and strong foreign exchange reserves.

He concluded that these efforts are positioning Kenya as a reliable and competitive destination for global investors.

Kenya and United States advance agricultural trade talks with new framework. (Image credit: State Department for Trade)

Kenya and the United States have moved forward in strengthening their agricultural trade relationship following the first round of consultations on a proposed reciprocal trade framework.

Held in Washington DC, the discussions placed strong emphasis on expanding opportunities within the agricultural sector, which remains central to Kenya’s export economy.

The Kenyan delegation, led by Regina Ombam, engaged with the United States team headed by Osvaldo Gómez Martínez. While the talks covered several areas of trade, agriculture stood out as a key priority, particularly in improving market access, reducing barriers, and increasing value addition.

Trade between Kenya and the United States has seen steady growth in recent years, with agricultural products playing a leading role. Kenyan exports such as coffee, tea, macadamia nuts and fresh cut flowers continue to perform strongly in the US market. These products not only generate foreign exchange but also support millions of farmers and workers across the agricultural value chain.

The consultations also explored ways to improve trade conditions for farmers and agribusinesses. Addressing tariffs and non tariff barriers remains critical in ensuring that Kenyan produce remains competitive. There was also a shared interest in enhancing standards, quality control, and logistics to meet global market demands.

Another important area of discussion was the future of agricultural trade under African Growth and Opportunity Act, which has supported Kenya’s exports to the United States for years. With the programme set to expire in 2026, both countries recognised the need for a new framework that provides certainty for farmers, exporters and investors.

Beyond exports, the talks highlighted opportunities for deeper collaboration in agricultural investment, technology transfer and sustainable farming practices. Strengthening these areas could help improve productivity, resilience and food security.

The meeting concluded with a positive outlook, as both sides expressed commitment to continued engagement. The proposed agreement is expected to create a more stable environment for agricultural trade, opening new opportunities for growth while supporting farmers and agribusinesses in both countries.

Nigeria Seeks UK investment to strengthen climate resilient agriculture. (Image credit: Federal Ministry of Information and National Orientation)

Nigeria is stepping up efforts to attract international investment into its agricultural sector, with a strong focus on building a resilient and sustainable food system.

This call was made during the Nigeria United Kingdom Investment Forum held in London, where the Minister of Agriculture and Food Security, Abubakar Kyari, outlined the country’s vast potential and urgent needs.

He explained that agriculture remains central to Nigeria’s economy, employing close to 70 percent of the workforce and contributing more than 24 percent to national GDP. With its diverse climate and fertile land, the country is well positioned to produce key crops such as rice, maize, cassava, cocoa and sorghum at a competitive level for both local and global markets.

Despite these strengths, climate change continues to pose serious risks. Changing rainfall patterns, drought, flooding and desertification are already affecting productivity and threatening food security. This has made the shift to climate resilient farming practices a national priority.

The Minister noted that one of the biggest challenges facing the sector is limited access to finance. While some credit schemes exist, they fall far short of what is needed to support farmers and scale innovation.

“While public financing remains essential, unlocking the scale of investment required will depend on stronger participation from private capital and development finance partners.

“Access to finance is a major constraint for farmers across Nigeria, significantly limiting the productivity across the sector. Despite the prevalence of credit schemes across the country, total credit accessible by farmers is still significantly limited, reaching 3.4trillion as at April 2025. Whilst this value may look significant, it is less than 4% of the contribution of agriculture to the country’s GDP.” Kyari said.

In response, the government under Bola Ahmed Tinubu has introduced reforms and programmes to improve productivity and resilience. These include solar powered irrigation systems, improved seed varieties, mechanisation support and better storage infrastructure.

Nigeria is also strengthening key institutions to reduce investment risks and improve confidence among global partners. The Minister encouraged UK investors to explore opportunities across the value chain, from irrigation and logistics to processing and storage.

He concluded by stressing that Nigeria has both the capacity and determination to transform its agricultural sector, while contributing to global food security in the face of climate challenges.

EIB Global and BOI Partner to boost sustainable agriculture in Nigeria.(Image credit: EIB)

EIB Global and the Bank of Industry (BOI) have signed an US$98.64mn agreement to strengthen agricultural value chains in Nigeria, with a strong focus on sustainability and private sector development.

The partnership, announced during the Nigeria-EU Ministerial Summit in Abuja, targets cooperatives, MSMEs, and private sector companies, with at least 70 percent of loans directed to the cocoa and dairy sectors.

The initiative, supported under the EU Global Gateway programme, aligns with Nigeria’s goals for sustainable agriculture, financial inclusion, and rural development. The funding is dedicated to enhancing productivity, improving value addition, and creating stronger linkages across the agricultural value chains, ultimately boosting incomes and livelihoods for processors and agribusinesses.

Olasupo Olusi, Managing Director and CEO of BOI, said,“This agreement reinforces the Bank of Industry’s commitment to unlocking long-term, affordable finance for priority sectors that drive inclusive growth.By partnering with EIB Global, BOI is scaling support for sustainable agriculture, strengthening critical value chains and enabling Nigerian agribusinesses to grow competitively while meeting international environmental and social standards.”

The project also emphasises compliance with environmental and social standards, the EU Regulation on Deforestation, and EU environmental guidelines. It aims to conserve biodiversity, reduce environmental impacts, and promote inclusive rural development, consistent with the EIB Climate Roadmap and the EU Green Deal. In addition, EIB Global will provide technical assistance to support BOI’s climate action strategy and strengthen the agriculture sector’s capacity to manage environmental and social risks.

Ambroise Fayolle, Vice President of EIB, said, “I am delighted that EIB is financing this project with the Bank of Industry for the development of agricultural value chains in Nigeria, including sustainable cocoa. Such investment is important for the country in terms of employment, health, and economy, with real impact on local population.” He added that the initiative aligns with the EU Global Gateway strategy and supports the sustainable transformation of Nigeria’s agricultural sector.

Jozef Sikela, Commissioner for International Partnership of the European Commission, added, “This investment strengthens cocoa and dairy value chains in Nigeria, where both sectors already employ thousands of farmers and workers and have clear potential for local processing and growth. This way, we help create more jobs and ensure that more value stays in Nigeria.”

Since 1978, EIB has invested US$2.67bn in Nigeria, supporting transformative projects in sustainable urban transport, climate adaptation, innovation, digitalisation, and agribusiness, helping to drive long-term economic growth.