Business
US Firm Corteva Agriscience Ditches Kenya For Zambia
New York Stock Exchange-listed agricultural company Corteva Agriscience has revised plans to set up shop in Kenya five months after it named Nairobi as its regional hub for Eastern, Central and Southern Africa countries and instead opted for Lusaka, Zambia for its seed production business.
The firm said Zambia will be its chosen seed production hub for the region, supplying seed to countries like Kenya, Tanzania, Rwanda, Uganda Ethiopia and Zimbabwe In a statement issued last week.
“Clearly Zambia is on the move, and a very, very important site for Corteva Agriscience. For us, quality seed and making sure farmers get the best product is most important, and this site is testament to that. We are in the business of enriching the lives of our farmers,” the firm’s president for Africa and Middle East Prabdeep Bajwa said.
The firm now says Nairobi will serve as the region’s distribution unit and operations head office.
The firm had in September last year announced plans were underway to set up the regional base in Kenya and the U-turn perhaps reflects on the bad state of running businesses in the country.
Foreign firms incorporated in Kenya have been complaining of frustration from the Kenyan government with high taxation and the lack of good policies.
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