Kenya’s Horticulture revenues hits US$ 1.257bn in ten months

KENYA – Kenya’s domestic horticulture has registered impressive performance after earning the country US$ 1.25 billion in 10 months to October 2018 an increase from full earnings for 2017 of US$1.13 billion, reports Business Daily According to Jane Ngigi, chief executive officer Kenya Horticulture Council, the enhanced earnings have been attributed to high standards of…

Nigeria’s Yam Committee to export 5,760 tonnes in 2019

NIGERIA - The Technical Committee on Nigeria Yam Export said it is targeting the exportation of more than 5,760 tonnes of yam to different countries in 2019, reports the Vanguard. However, Prof. Simon Irtwange, Chairman of the committee has highlighted existences of the 1986 Export Prohibition Act and logistics problems as some of the major…

Nigeria’s Notore Chemical reports 123% loss for FY 2018 as 3 directors exit

NIGERIA – Notore Chemical Industries Plc, a Nigerian agro-allied products manufacturer, reported a 123% loss in its financial position for 2018, reports Premium Times. The company has been experiencing declining fortunes in recent years, with its latest financial report as at September 2018 showing 123 percent loss, from N8.65billion profit recorded in 2017 to a…

Kenya to host 9th International Macadamia Symposium

KENYA- Kenya is set to host the 9th International Macadamia Symposium in August 2021 owing to its increased small scale production of macadamia nuts, reports Business Daily. Nut Processors Association of Kenya (NutPAK) CEO Charles Muigai said Kenya was chosen to host the event due to the success of the sector through small-scale farming, which…

Africa’s agribusiness to reach US$1 trillion by 2030, industry experts

AFRICA – Africa’s agribusiness is projected to reach US$1 trillion by 2030 and this can be achieved through significant investments to unlock the industry’s potential, according to industry experts who attended the Africa Investment Forum held in South Africa. It was noted that there was need to invest US$45 billion per year to harness the…

Twiga Foods raises US$10.3m financing from IFC and TLcom for expansion

KENYA – Twiga Foods, a Kenyan based online food-market platform has raised US$10.3 million financing co-led by World Bank’s private investment arm International Finance Corporation (IFC) and Pan-African venture capital firm, TLcom Capital. The capital is meant to help the company expand operations and offer new services to small holder farmers. Others that participated in…

Ghana and Ivory Coast launch Hortifresh programme to boost horticultural production

GHANA - Ghana and Ivory Coast have launched the Hortifresh West Africa Programme to boost horticultural production and exports, reports GNA. The programme, supported by the Netherlands aims to establish a sustainable and internationally competitive fruit and vegetable sector that would contribute to the inclusive economic growth and nutrition security. The core activities of the…

Greenyard signs agreement to divest horticulture segment for US$141m

BELGIUM – Greenyard, one of the largest suppliers of fruit and vegetables in the world, has signed an agreement for the divestment of its horticulture segment with Straco for a total consideration of US$141 million. According to the company, it has taken this decisive actions towards a refocus and a strengthened balance sheet, further to…

Kenya loses UK horticulture market share on ‘incompetent’ standards

KENYA - A study by the Overseas Development Institute (ODI) has revealed that Kenya lost on all of its top three exports to the United Kingdom that is tea, cut roses and beans. According to the report, exports to the UK from the rest of the world have risen by 15% in eight years to…

Horticulture earns Kenya US$3.04bn as export markets become lucrative

KENYA - Kenya earned US$3.04 billion on account of good prices in the export market for the 2017 year, a 41% increase from the previous year, according to the market data from the Horticulture Department. This covers flowers, fruits and vegetables whose overall sales rose from US$2.15 billion in 2016 to US$3.04 billion last year…