Kenya: Equity Bank Backs Sh13bn Galana-Kulalu Farming Expansion

Nairobi — Selu Africa Limited plans to invest Sh13 billion over the next three years to expand maize production at Galana-Kulalu, after recording yields of up to 35 bags per acre using irrigation and precision farming.

The company, which operates a 20,000-acre parcel in Kilifi County, has increased cultivated land from 500 acres in 2025 to 2,000 acres this year and is targeting yields of more than nine tonnes per hectare as it expands production.

Selu Group founder and chairman Peter Njonjo said the farm uses irrigation sprinklers, agricultural drones, renewable energy and data collection to guide crop production and the use of farm inputs.

The expansion is being supported by Equity Bank, which says it is financing commercial farming projects as part of efforts to increase food production and reduce Kenya's reliance on imported food.

Kenya spends billions of shillings importing food each year, while farmers face unpredictable rainfall that affects harvests. Agriculture contributes about 23 percent of the country's gross domestic product, according to figures cited by Equity Bank Kenya managing director Moses Nyabanda.

"We continue to spend hundreds of billions of shillings annually importing food. That gap is our opportunity," Nyabanda said.

Equity Bank is targeting agriculture to account for 30 percent of its loan book under its Africa Recovery and Resilience Plan. The lender says its financing also covers businesses linked to farming, including input suppliers, transporters and produce traders.

The Galana-Kulalu project works with agricultural companies including AGCO, Campo and Bayer AG, while LEAF Africa supports its research component.

The farm's expansion is expected to create more demand for workers in farm operations, machinery, agronomy, transport and processing. Some local workers have also gained experience in irrigation, pest control and fertilizer application.

Read the original article on Capital FM.