AvoVeg Health to Invest Ksh. 2.6 Billion to Transform Kenya’s Agriculture
NAIROBI, Kenya — Kenyan-American entrepreneur Nathan Loyd’s company, AvoVeg Health, is set to inject Ksh. 2.6 billion into Kenya’s agricultural sector, aiming to modernize avocado processing and expand vegetable exports to European markets. The ambitious investment, which follows over Ksh. 1 billion already deployed in prior ventures, seeks to tackle post-harvest wastage, boost value addition, and directly benefit thousands of farmers nationwide. The initiative aligns with the government’s strategic vision for economic growth and innovation, highlighting Kenya as a key player in the global horticulture market.
The announcement was made during the US Trade and Investment initiative, Prosper Africa, attended by President William Ruto and US Ambassador to Kenya Meg Whitman. AvoVeg Health plans to introduce state-of-the-art machinery for processing and packaging avocados, a move expected to enhance efficiency and ensure high-quality exports. Mr. Loyd praised President Ruto for his CEO-like leadership approach, which he says has inspired private-sector collaboration and confidence in Kenya’s economic trajectory. The investment underscores the potential for trade and investment partnerships between Kenya and international stakeholders, particularly in agro-processing and food security.
The impact of the investment is anticipated to be far-reaching, offering farmers better access to technology and training, improving market competitiveness, and reducing losses caused by inefficient post-harvest handling. With an initial $20 million allocated for the new value-add venture by the third quarter of 2024, the project positions Kenya as a hub for high-quality avocado exports while creating jobs and stimulating local economies. Mr. Loyd’s extensive experience across multiple sectors in Africa, including agriculture in Kenya, is expected to drive the success of this transformative project. Officials and stakeholders remain optimistic that AvoVeg Health’s initiative will set a precedent for private-sector-led agricultural modernization in Kenya.