Nairobi, Kenya, Feb 29-Kenya’s livestock sector continues to attract attention from investors despite significant financial hurdles.
A study conducted by the International Livestock Research Institute (ILRI) has revealed that demand for livestock products is projected to grow by up to 50% by 2030.
This it says calls for strategic investments to drive growth and innovation in the livestock sector, while ensuring sustainable production to mitigate environmental and social harms. According to ILRI, the livestock sector remains chronically underfinanced despite supporting an estimated 25 million livelihoods as well as contributing to 42% of the national agricultural GDP.
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ILRI’s Assistant Director General Shirley Tarawali underscored the need for more investment in the livestock sector in a bid to meet its growing demand.
“Investments are needed to grow the livestock sector sustainably, thereby creating triple wins that benefit smallholder farmers, efforts for climate adaptation and mitigation, and Kenya’s economic growth and sustainable development agenda,” she said.
“Through collaboration with investors and businesses, we can explore new avenues to mitigate risk and reduce financing costs, driving investments across Kenya and the continent,” said ILRI’s partner AgThrive Director Kristin Girvetz on his part.
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The study findings were unveiled at the Livestock Investors Convening and Pitch Event which showcased innovative livestock business ventures, fostering collaboration and insights to unlock further investment for the sector.
