Kenya and South Korea have signed a landmark Memorandum of Understanding aimed at transforming the agriculture sector.
Key Takeaways
- Partnership Goals: The MoU focuses on integrating innovative smart farming techniques to enhance food security in Kenya.
- Investment Strategy: The collaboration aims to attract both domestic and foreign investments for smart farm projects.
- Smart Farm Initiative: A flagship smart farm is proposed for Konza Smart City, expected to revolutionize agricultural practices.
- Chemical Supply Agreement: A separate agreement was made for the supply of hydrogen peroxide between South Korea’s Jungin Trading and Kenya’s Eglaim Ventures Ltd.
Overview of the MoU
At the center of the agreement was the signing of an MoU between the Kenya National Innovation Agency (KeNIA) and South Korea’s IIAMHUB Co. Ltd. This partnership is designed to revolutionize Kenya’s agricultural sector by integrating innovative smart farming techniques to address the country’s food security challenges.
KeNIA Chief Executive Officer Tonny Omwansa and IIAMHUB Co. Ltd. President Ku Kyo-Young formalized the partnership, emphasizing the enormous potential for Kenya’s agricultural sector. Omwansa highlighted the focus areas of the collaboration, including:
- Attracting foreign and domestic investments for smart farm projects.
- Developing innovative agribusiness models.
- Identifying strategic investment opportunities within Kenya’s agricultural landscape.
Empowering Agribusiness
“This partnership will not only transform farming practices but also empower individuals and organizations in the field of agribusiness through capacity-building programs. It’s a win-win for both countries,” remarked Omwansa.
Chemical Industry Cooperation
A key agreement was also reached between South Korea’s Jungin Trading and Kenya’s Eglaim Ventures Ltd. for the supply of hydrogen peroxide. Officials stated that this partnership marks another step toward deepening trade ties between the two nations, expanding cooperation in the chemical industry.
Smart Farm at Konza Smart City
Another highlight of the event was a detailed presentation by Ku Kyo-Young on the proposed establishment of a smart farm within Konza Smart City. This smart farm is expected to be a game changer in Kenya’s quest to achieve food security.
Major Projects Report
During the event, the South Korean government handed over three comprehensive reports to the Kenyan government, outlining major projects under the Konza Technopolis Development Authority, which are collectively valued at Sh130 billion. These reports, resulting from a three-year collaboration, cover:
- The establishment of a smart farm at Konza.
- The creation of an incubation complex for start-ups.
- The development of a renewable energy strategy for Konza Technopolis.
This partnership between Kenya and South Korea is poised to significantly impact the agricultural landscape, fostering innovation and investment that could lead to enhanced food security and economic growth in the region.
Sources
- Kenya, South Korea sign MoU to transform agriculture, The Star, Kenya.
