Kenya and South Korea have signed a landmark Memorandum of Understanding aimed at transforming the agriculture sector.
At the centre of the agreement was the signing of an MoU between the Kenya National Innovation Agency (KeNIA) and South Korea’s IIAMHUB Co. Ltd.
The partnership aims to revolutionise Kenya's agricultural sector by integrating innovative smart farming techniques to address the country’s food security challenges.
“IIAM and KeNIA agree to develop investment strategy and opportunities for smart farms for domestic and foreign investors,” reads a section of the Letter of Intent.
KeNIA Chief Executive Officer Tonny Omwansa and IIAMHUB Co. Ltd. President Ku Kyo-Young formalised the partnership, emphasising 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, and identifying strategic investment opportunities within Kenya's agricultural landscape.
“This partnership will not only transform farming practices but also empower individuals and organisations in the field of agribusiness through capacity-building programmes. It’s a win-win for both countries,” he remarked.
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 said the partnership marks another step toward deepening trade ties between the two nations, expanding cooperation in the chemical industry.
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.
The smart farm, a flagship initiative, is expected to be a game changer in Kenya’s quest to achieve food security.
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, which are the result of a three-year collaboration, cover the establishment of a smart farm at Konza, the creation of an incubation complex for start-ups, and the development of a renewable energy strategy for Konza Technopolis.