Last Updated 14 years ago by Kenya Engineer
The ailing pyrethrum industry could soon take new turns following the move by a leading Norwegian financier to invest Sh252 million in a local pyrethrum firm.
Norwegian impact investment fund, Voxtra intends to invest in Orion East Africa EPZ to stipulate the ailing industry. According to Voxtra manager,Gaute Ellinngsen,his firm identified Orion as a potential beneficiary of its finds due to the firm’s relationship with farmers in Kenya through its Kilimo Faida micro-finance credit scheme.
Voxtra already has a foot print in Africa with Tanzania being its hub. It has invested over $1.5 million in Mtanga farms as well as Iringa.
Pyrethrum has been grown in Kenya since 1928 but has not been at its best in terms of profit making pointing its bad condition to lack of funds.
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