This archive report was first published on 17 July 2020.
On July 17, 2020, the European Union (EU) announced a Sh22.2 billion funding plan to support 200 Kenyan agribusinesses over the next five years. The initiative, dubbed Agribiz, targets women and youth-led ventures and aims to create 17,000 jobs in the agricultural value chain across the country.
The partnership, which includes the EU, the Kenyan government, the Royal Danish Embassy, and the Kenya Climate Innovation Centre (KCIC), has selected the 200 beneficiaries from 2,400 applicants after a rigorous vetting process.
According to KCIC Chief Executive Edward Mungai, the overwhelming response to the call for applications indicates that there are many agribusinesses in Kenya seeking support to spur their growth.
The 200 beneficiaries include early-stage and start-up companies, Small and Medium-sized Enterprises (SMEs), women and youth-led community-based organisations, as well as self-help groups. They were selected for demonstrating the best scalability and potential for replication and growth of their product or service.
EU Ambassador to Kenya Simon Mordue noted that the huge interest in AgriBiz is an indicator that women and youth are embracing agribusiness activities, contrary to popular opinion.
