Posted on May, 27, 2024 at 09:39 am
A prominent fresh fruits and vegetables exporter has announced plans to increase investments in the country.
Avoveg Health, led by Kenyan-American entrepreneur Nathan Loyd, cites President William Ruto’s drive to make Kenya an investment destination as the reason behind their planned investments. Loyd says his company is committed to value addition and innovative agricultural practices that will benefit Kenyan farmers and the country’s economy.
“I want to salute our President William Ruto for being the first President that we have had who thinks like a CEO. We march on together to change Kenya onto greater heights,” states Loyd who was part of the Kenyan delegation to the United States during President Ruto’s state visit
Speaking on the sidelines of the Kenya-US Trade and Investment forum, dubbed “Prosper Africa” Loyd noted that there were numerous opportunities in harnessing trade and investment for the two countries, especially in areas of horticulture and agro-processing, value addition, and food security.
With over Ksh. 1 billion shillings already invested in Kenya’s agricultural sector, he disclosed that AvoVeg Health is now embarking on a new venture that will add significant value to the avocado industry.
He said the company will soon introduce modern machinery for processing and packaging avocados. The new equipment, he says, will among other things, address the critical issue of post-harvest wastage, thereby benefiting thousands of farmers across the nation.
“Our new value-added venture will solve the huge challenge our farmers face due to wastage issues that benefit thousands of farmers across our nation,” explains Loyd.
What’s more, AvoVeg Health is poised to invest an initial $20 million in a value-add project by the third quarter of 2024.
“This substantial investment highlights the company’s commitment to transforming the agricultural sector in Kenya. Why Kenya? It’s because President Ruto has joined me as a CEO in thinking like a CEO,” he said, even as he emphasized the strategic alignment with President Ruto’s vision for economic growth.
Loyd boasts extensive entrepreneurial experience, spanning over three decades in various sectors, including minerals in the Democratic Republic of Congo, real estate in Rwanda, and agriculture in Kenya. His leadership at AvoVeg Health has already seen the company invest over $10 million in its fresh produce line, amid plans to initiate other projects in East and Central Africa, including the launch of a guacamole processing machine in Kenya.
“This groundbreaking technology will significantly benefit thousands of farmers across Kenya by reducing avocado wastage and adding considerable value to the local economy,” Loyd asserts.
He says AvoVeg Health’s efforts align perfectly with the Kenya Kwanza administration’s Bottom Up Economic Agenda, marking a significant step towards achieving sustainable agricultural development.
He also underscores the importance of government support in realizing his ambitious projects and cites this as a reason behind his push to have a meeting with the head of state to explain his plans for Kenya.
Source: KBC