Kenya secures lucrative support for farmers

 Agriculture Cabinet Secretary, Willy Bett (L) and Equity Bank CEO, Dr James Mwangi display agreement documents after signing the Agricultural Credit Guarantee Scheme (ACGS) to support farmers.

Agriculture Cabinet Secretary, Willy Bett (L) and Equity Bank CEO, Dr James Mwangi display agreement documents after signing the
Agricultural Credit Guarantee Scheme (ACGS) to support farmers.

From MARIA MACHARIA in Nairobi, Kenya
NAIROBI, (CAJ News) – KENYA, currently ravaged by drought, has signed a Sh300 million (US$2,88 million) agreement with a local bank to support farmers for the second phase of the Agricultural Credit Guarantee Scheme(ACGS).
The Ministry of Agriculture, Livestock and Fisheries signed the agreement with Equity Bank (Kenya) Limited.
The agreement marks the third time that the Ministry is partnering with
Equity Bank, with the first being in 2008 through the Kilimo Biashara(Farming is Business) partnership and the second being in 2011 through theACGS Phase 1 agreement.ACGS aims at scaling up and magnifying lessons learnt throughout the previous years of implementation.
Equity Bank Chief Executive Officer, Dr James Mwangi, said more than 472 000 individuals had benefitted from loans worth over Sh7 billion.
“Kilimo Biashara has been a flagship partnership from which lessons have been used across the continent due to its impact to farming and related businesses,” he said.
Agriculture, Livestock and Fisheries Cabinet Secretary, Willy Bett, said the extension of the partnership would help accelerate efficient and effective service delivery to low income beneficiaries in the agricultural sector thus bringing them into the formal financial system.
– CAJ News

Short URL: http://cajnewsafrica.com/?p=21584

Posted by on Aug 2 2017. Filed under Africa & World, Featured, National, News, Regional. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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