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Agricultural Finance Corporation’s Revolution to Innovative Farmers

Byadmin

Apr 14, 2023

By Nicholas Manduku

The Corporation has promised to support innovative young farmers through affordable credit to realize their agricultural programmes.

AFC receives loan applications totalling to over Ksh 15 billion annually but only able to avail about Ksh 4 billion due to resource constraints.

However, in 5 years the Corporation has been able to disburse over 20billion to all actors in the agriculture sector.

Speaking during (AFC) investors engagement under the ttheme ” Transformational Through Financial Inclusion and Innovation ” forum Mr. George Kubai Managing Director (AFC)said the institution has embacked on a transformation and big investment needed in the agricultural sector.

Through this, Mr. Kubai says AFC is going to support over 2.6 million players with a special focus on women and youths including smallholders and agri-MSMEs.

Mr.Kubai said is about data with professional and digitally motivated for sustainable development to support food security.

“Its worth noting that the wholesale lending model which was developed through the support of AGRA IFAD and the National Treasury has been tested with sight SACCOs borrowing over Ksh 1 billion with less than 1% Non performing loan,” Kubai said

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