Kenya renews bid for sustainable financing for food systems
The summit will explore the multifaceted challenges hindering investment, including high perceived risks, transaction costs, and limited access to finance for smallholder farmers and agri-SMEs.
Kenya on Tuesday reaffirmed its commitment to achieving sustainable financing for its food systems to make the country fully food secure within the next decade.
Senior government officials and scientists convened in Nairobi ahead of the highly anticipated Financing Agri-food Systems Sustainably (FINAS) Summit in May, recognising the agri-food sector as a cornerstone of Africa’s economic progress.
Agriculture Principal Secretary Kipronoh Ronoh stated that Kenya is exploring innovative financing models to ensure long-term food sustainability.
“The upcoming meeting is particularly important as African governments increasingly commit to self-sufficient financing mechanisms. FINAS Summit 2025 will serve as a vital platform to reimagine agri-food financing through innovative models, digital transformation, and strategic partnerships that align with the African Union’s Kampala Declaration on food security and sustainability,” said Ronoh.
During the summit, Kenya will develop a strategic action plan, mapping out a comprehensive roadmap for sustainable agri-food development.
“Now, more than ever, Africa needs bold, homegrown solutions. FINAS Summit 2025 will bring together leading experts to tackle these challenges head-on, fostering partnerships and driving innovation to empower our agri-food systems for generations to come,” added Dr Ronoh.
It emerged during Tuesday’s meeting that, despite agriculture’s critical role in boosting the Gross Domestic Product (GDP) and alleviating poverty, the sector receives significantly less funding than others. According to the World Bank, agriculture receives just 3 per cent of global development funding—a disparity that FINAS 2025 seeks to address.
The summit will explore the multifaceted challenges hindering investment, including high perceived risks, transaction costs, and limited access to finance for smallholder farmers and agri-SMEs. Through dynamic sessions, experts will discuss innovative financing models designed to de-risk investments and attract diversified capital.
Scheduled to take place from 20th to 22nd May, the summit will leverage digital solutions to enhance infrastructure development, streamline agricultural supply chains, and reduce food loss and waste.
According to Dr Charity Mutegi, the FINAS Summit Director, the event comes at a critical moment when digital transformation is creating unprecedented opportunities to revolutionise agricultural financing.
“The future of food systems transformation depends on African governments’ ability to create homegrown solutions that do not rely on foreign aid as a silver bullet. The decline in external financial support necessitates greater innovation, with leaders leveraging domestic resources to build self-sustaining food systems,” said Mutegi.
George Abwajo, a Fintech Association of Kenya (FINTAK) Board Member, highlighted that the summit will also recognise excellence in best-fit financing solutions for the sector, with awards in categories such as Financial Inclusion, covering youth and gender inclusion.
“As the co-lead of the Innovation, Data and Technology focus area, the Fintech Association of Kenya (FINTAK) will drive forward critical discussions on leveraging digital innovation to transform agricultural financing across Africa,” said Abwajo.
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