AvoVeg Health to invest USD 20M in Kenyan avocado value addition

KENYA – AvoVeg Health, a leading fresh fruit and vegetable exporter from Kenya, has announced a KES 2.64 billion (USD 20 million) investment plan in value addition for avocados to tackle post-harvest wastage and improve the livelihoods Kenyan farmers.

Based in Nairobi, AvoVeg Health, led by Kenyan American entrepreneur Nathan Loyd, specializes in processing and exporting fresh avocados and various vegetables to Europe.

“Our new value-add venture will solve the huge challenge our farmers face due to wastage issues, benefiting thousands of farmers across our nation,” explained Mr. Loyd.

Mr. Loyd further added that the company will make the investment by the third quarter of 2024.

During the recent US Trade and Investment initiative, Prosper Africa, facilitated by President Ruto and US Ambassador to Kenya Meg Whitman, Mr. Loyd emphasized the vast opportunities for trade and investment between the two nations, particularly in horticulture, agro-processing, value addition, and food security.

With over 1 billion shillings already invested in Kenya’s agricultural sector, AvoVeg Health is now focused on enhancing the avocado industry.

The company plans to introduce state-of-the-art machinery for processing and packaging avocados, addressing the critical issue of post-harvest wastage.

“Why Kenya? My President, Honorable Ruto, has joined me as a CEO in thinking like a CEO,” emphasized Mr. Loyd, aligning with President Ruto’s strategic vision for economic growth and innovation.

Overall post-harvest losses in Kenya’s agriculture sector are estimated at between 20% and 30%, with horticulture sub-sector losses reaching up to 60%.

 AvoVeg Health’s investment aims to cut these losses significantly, benefiting thousands of farmers across the nation.

Kenya is also part of a five-year program targeting Kenya, Uganda, Tanzania, Rwanda, and Ethiopia, aiming to reduce horticultural losses by at least 40% or lower.

The program focuses on potatoes, avocados, and onions, with Kenya being the first country where the drive has been launched.

The goal is to achieve a trade value of USD 25 million (KES 3.3 billion) for fruits and vegetables within the Comesa-EAC region by 2031.

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