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The German Development Finance Institution DEG will provide a long-term loan worth 3 million Euro to Selecta Kenya.
The investment will allow the company to modernize its infrastructure in horticultural production in Kenya. Thus, Germany further supports agriculture which is a main emphasis of German Development Cooperation in Kenya.
German Ambassador to Kenya, Andreas Peschke, welcomed the modernization of agriculture in Kenya as another step to improve Kenya’s economic competitiveness in the world. He also expressed his hope for a fast conclusion of an Economic Partnership Agreement between the EU and East Africa to make sure Kenya’s market access to Europe will remain open in the long term.
Moreover, the DEG-loan will allow Selecta Kenya to improve accompanying service for workers. For instance, women will benefit from free health consultations. DEG also co-finances a study to switch the company’s energy supply entirely to the use of renewable energies only.
The German company Selecta exports plants to more than 3,500 wholesale dealers worldwide. Selecta has offices in Europe, Africa, Latin America and Asia. In Kenya alone, more than 1,000 people are employed by Selecta.
– German Embassy Nairobi