AFC to become a farmers’ bank
29 May 2013, 16:46
A bill aimed at converting Agricultural Finance Corporation (AFC) to a fully fledged farmer’s bank will soon be tabled in parliament, Agricultural Ministry Permanent Secretary Romano Kiome said Tuesday.
Speaking in Nyeri, Kiome said the corporation will be lending money to farmers at affordable rates and initiate more mechanisms to ensure money is available for farmers to borrow.
He also encouraged local financial institutions like Saccos to initiate packages that will benefit farmers.
He said the Agriculture and Livestock Cabinet Secretary Felix Kosgey will assist County Governors with finances and advice from experts regarding agriculture.
Kiome made the remarks at Kabiru-ini show ground during the launch of Agricultural Sector Development Support Programme (ASDP) where he said the agricultural sector is a major contributor to the country’s economy.
ASDP is a programme funded by the Swedish Government and is expected to run for five years from January 2012 - December 2016.
It provides an avenue for harmonization and integration of agricultural development programmes and projects at national and County levels in order to harness synergy with a view to enhancing efficiency and effectiveness in resource utilization.
Nyeri Governor Nderitu Gachagua expressed concerns that the subsidized fertilizer released by the government has not reached small scale farmers at the grassroots therefore affecting productivity.
He proposed that the distribution channel be monitored just to ensure fertilizers are reaching and benefiting the targeted group.
Join in the conversation on our Facebook page. Also get the latest news by following us on Twitter.
Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.