NAIROBI, Kenya, Oct 17 – Kenya and South Korea have taken their six-decade-long diplomatic relationship to a new level, signing a landmark Memorandum of Understanding (MoU) aimed at transforming key sectors such as agriculture, energy, and technology.
The celebrations were marked in a high-profile event, held at the JW Marriott Hotel in Nairobi, which brought together top government officials, industry experts, and representatives from both countries, all eager to chart a course for future collaboration.
At the center of the two-day celebration, which ran from October 1-2, was the signing of an MoU between the Kenya National Innovation Agency (KeNIA) and South Korea’s IIAMHUB Co. Ltd.
This strategic partnership is set to revolutionize Kenya’s agricultural sector by integrating innovative smart farming techniques, a move that will help address the country’s food security challenges.
“IIAM and KeNIA agree to develop investment strategy and opportunities for smart farm 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 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, and identifying strategic investment opportunities within Kenya’s agricultural landscape.
“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,” Omwansa remarked.
In addition to the MoU signed during the event, a key agreement was reached between South Korea’s Jungin Trading and Kenya’s Eglaim Ventures Ltd. for the supply of hydrogen peroxide.
Eglaim Ventures placed an initial order valued at $84,000 (Sh10.8m), with plans for monthly deliveries contingent on the success of the first consignment.
Officials said this partnership marks another step toward deepening trade ties between the two nations, expanding cooperation in the chemical industry.
One of the highlights 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, will be a game changer in Kenya’s quest to achieve food security.
It will feature a state-of-the-art nursery house for high-quality seedlings, incubate smart farms with the latest agricultural technologies, and serve as an agricultural processing center focused on value addition.
The smart farm will integrate cutting-edge technology to optimize yields and reduce the environmental footprint of farming.
This project forms part of the Economic Innovation Partnership Programme (EIPP), an ambitious bilateral initiative between Kenya and South Korea that seeks to enhance business efficiency through institutional improvements and infrastructure development.
With agriculture playing a key role in Kenya’s economy, the smart farm promises to address long-standing issues in the sector, such as food insecurity and inefficient farming methods.
Beyond agriculture, the partnership between Kenya and South Korea extends to technology and energy.
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 under the EIPP, cover the establishment of a smart farm at Konza, the creation of an incubation complex for startups, and the development of a renewable energy strategy for Konza Technopolis.
The incubation complex, supported by the Korean government, will serve as a hub for nurturing innovative startups and entrepreneurs in various fields, providing them with the tools and resources needed to scale their businesses.
Head of KAM Consulting and Business Development Joyce Njogu emphasized the importance of such collaborations in driving innovation and attracting foreign investments into Kenya’s manufacturing sector.
With more deals expected to be signed in the near future, the association said it is optimistic that this strengthened cooperation will spur mutual growth and solidify Kenya’s position as a leading trade partner in East Africa.
KAM partnership is poised to provide Kenyan manufacturers with new markets and innovative technologies, accelerating industrial transformation in the country.
Kenya and South Korea are set to ink more deals as both nations explore deeper areas of cooperation, particularly in technology, energy, and agriculture.
Over the years, Kenya has benefitted from South Korea’s expertise in technology, infrastructure development, and education, while South Korea has found Kenya to be a strategic partner in East Africa, particularly in trade and investment.
Since the establishment of diplomatic relations in 1964, Kenya and South Korea have maintained a strong and fruitful partnership, with both countries benefiting from shared expertise in technology, infrastructure, and education.
Kenya and South Korea are set to ink more deals as both nations explore deeper areas of cooperation, particularly in technology, energy, and agriculture.
Source: capitalfm
