Barely five months after entering into the Kenyan market, US company Corteva Agriscience has closed its shop in Nairobi and shifted base to Zambia.
Corteva, a New York Stock Exchange-listed agricultural chemical and seed company, said it had identified Zambia as the most suitable site for its factory.
In a statement, Corteva president for Africa and Middle East Prabdeep Bajwa said the company’s seed production plant for the region will be based in Lusaka. Seeds for supply to Kenya, Tanzania, Rwanda, Uganda Ethiopia, and Zimbabwe will be produced in Lusaka in a move that deals a major blow to Kenya’s status as the region’s hub for foreign investors.
“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 a testament to that. We are in the business of enriching the lives of our farmers,” said Prabdeep.
The company officially launched its regional operations in Nairobi in September 2019 as part of its bid to expand its market reach and contribute to the growth of the region’s agriculture sector.
It also named Nairobi as the regional hub for Eastern Central and Southern Africa (ESCA) countries, comprising Kenya, Ethiopia, Uganda, Rwanda, Tanzania, Zambia, and Zimbabwe.