survey
Bonds collapse claims top managers' places Next Story
Importers protest oil seizure Previous Story
You are here  » Home   » Business News

KIE to up funding for agro-processing firms

By Lydiah Nyawira | Published Mon, September 3rd 2018 at 00:00, Updated September 2nd 2018 at 20:32 GMT +3
Kenya Industrial Estates Board members led by Acting Chairman Mr. Bob Karina (centre) engage Director of Geocao Engineering Workshop George Twago, in Kisii during the tour of Micro, Small and Medium Enterprises (MSME) projects incubated by the state corporation. (Eric Abuga, Standard)

Kenya Industrial Estates (KIE) will boost food security in the country through increased funding of agro-processing industries across all counties.

Speaking during a Board of Director's tour of projects funded and incubated by the parastatal in Mount Kenya Region, acting Chairman Mr. Bob said the state corporation will increase financing enterprises that work in adding value to animal products, cereals, grains, nuts and vegetables. 

ALSO READ: AAK opposes state over 16 per cent VAT on pesticides

"Government support through finance provision for local agro-processing enterprises holds the key to food security and Kenya's self-sustenance" said Mr. Karina. 

KIE's Managing Director Dr. Parmain ole Narikae said support to the agro processing industry will create more employment opportunities.

"Agriculture is a major contributor to country's GDP. When this is combined with the employment in the value chain, the impact of the sector could increase significantly", said Narikae. 

With its network of 37 branches, KIE incubates and finances SMEs country-wide and therefore plays an important role in the realisation of the manufacturing pillar, one of the Government's big- four agenda.

 

Stay informed while on the go by subscribing to the Standard Group SMS service. Text the word 'NEWS' to 22840.


Would you like to get published on Standard Media websites? You can now email us breaking news, story ideas, human interest articles or interesting videos on: [email protected]

RECOMMENDED