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KCV signs loan agreement with Shammah Rown Group to finance seedling production technology 

  • By KCV
  • July 13, 2022

Kenya Climate Ventures has given Shammah Rown Group a loan investment to help the company set up a tissue culture laboratory in western Kenya. This marks a significant step forward in Shammah Rown Group’s roadmap to increase their production capacity of certified and safe food and tree seedlings.

The loan agreement underscores the purpose of KCV, which prides itself as a climate investor, to support small and medium enterprises and innovation efforts to foster the transition toward a decarbonized and environmentally-friendly economy.

The project is primarily carried out by the Shammah Rown Group in Bungoma County. Reflecting its ecological goals, the project aims to restore the degraded land in Mount Elgon and, through capacity-building programs, engage smallholder farmers in good agronomical practices that positively impact the environment.

Shammah Rown Group has four main goals it hopes to achieve in the next five years with the loan: to increase the production capacity of certified, clean, and highly productive food and tree seedlings to 100,000 annually; provide employment opportunities for up to 30 youth and women; restore at least 100 acres of degraded land in Mount Elgon and enhance the resilience of communities in the western region to the effects of climate change.

Read Also: KCV clients receive financing from KKCF

KCV is a long-standing investment partner for most climate-smart technologies and has already provided USD 4.01 million to 20 climate-smart enterprises in Kenya. 

“The funding arrangement set up with KCV will make a decisive contribution to Shammah Rown Group’s activities by increasing our production capacity,” noted Roy Wafula, Shammah Rown Group’s Chief Executive Officer. “The disruptive technologies developed by this project should significantly reduce the climate impact and increase the country’s tree cover. At Shammah Rown Group, we are very pleased to have established a great relationship with this institution, which has offered us a unique and impact-focused investment.”

“This emblematic project perfectly illustrates KCV’s mandate of making a contribution in increasing Kenya’s forest cover from 8% to 10% by 2030,” said Victor Ndiege, CEO of KCV. “To meet the ambitious goal of Kenya’s NDCs of reducing greenhouse gas emissions by 32%, KCV is investing in commercial forestry by supporting enterprises like Shammah Rown Group. This project aims to increase the accessibility of high-quality food and tree seedlings by communities and institutions.”