Investors will be able to acquire land for agricultural ventures within a month, a move expected to dramatically increase Kenya’s competitiveness.
The funds, which had been placed under the Department’s recurrent budget, were used to pay maize flour millers.
The company will be jointly owned by Samcrete Egypt, a leading domestic construction and industrial firm, and Feerum S.A., a Polish manufacturer specializing in grain storage and drying systems
South Africa’s Minister of Agriculture John Steenhuisen welcomed the lifting of the ban, saying that the move marked a return to sound economic principles in the Southern African region.
Rice shortfall in Nigeria has left the country reliant on imports valued at nearly US$2 billion annually.