Investing in Kenya’s livestock & meat industry

Kenya's livestock sector is at the cusp of a significant breakthrough with plans underway to export livestock and meat to Nigeria and eight other African countries. This move has the potential to revolutionize the meat industry in the region and unlock new investment opportunities. In a recent interview on CNBC Africa, Doreen Gacheri, CEO of Genco Livestock & Fresh Meat Export LTD, shed light on the burgeoning opportunities in the Kenyan livestock industry and the impact of regional trade agreements on the sector. Over the past decade, the livestock sector in Kenya has been steadily growing, driven by increasing demand from markets in the Middle East, northern Africa, and now, island countries within Africa. With the support of the Kenyan government and bilateral agreements with countries like Saudi Arabia and the UAE, businesses in Kenya are well-positioned to capitalize on this growing demand. Improved infrastructure, both in logistics and transportation, has made it easier to export livestock and fresh meat via air and sea. Doreen emphasized that the current climate is ripe for investment in breeding and trading within the livestock industry, with robust measures in place for disease control, animal health, and nutrition. The implementation of the African Continental Free Trade Agreement (AfCFTA) is set to further fuel growth in the trade environment within Africa. By unlocking a massive $3.4 trillion trade market, AfCFTA is expected to accelerate trade between African countries. Additionally, there is a growing emphasis on sustainable practices in livestock rearing, positioning African countries as producers of organic meat. However, challenges persist, with currency fluctuations impacting trade and farmers struggling to realize the full value of their livestock due to unstable exchange rates. Doreen highlighted the need for African countries to address the currency issue collectively to mitigate losses during cross-border transactions. She suggested exploring the possibility of a unified currency or reaching agreements to stabilize exchange rates and foster equitable trade practices. In addition, addressing the underrepresentation of women in trade is crucial for the growth of the sector. Empowering women entrepreneurs with improved access to financing and resources can help bridge the gender gap and drive economic growth in the livestock industry. As a recipient of the Impact Award, Doreen emphasized the vast growth opportunities available in the livestock sector and encouraged more entrepreneurs, especially women, to venture into the industry. The award not only boosts credibility for individual businesses but also enhances Kenya's reputation as a quality exporter of livestock. Moving forward, collaboration and support from stakeholders across Africa are essential to harnessing these opportunities and ensuring sustainable growth in the livestock and meat industry. In conclusion, the prospects for the Kenyan livestock and meat industry are bright, with a strong foundation in place for investment and expansion. By leveraging regional trade agreements, addressing currency challenges, and promoting gender inclusivity, Kenya is poised to become a key player in the African livestock market.