The Kenyan ministry of agriculture on Tuesday signed an agreement worth 3 million U.S. dollars with a local bank, Equity Bank to boost access to credit among smallholder farmers who contribute an estimated 70 percent of food production in the country.
Cabinet Secretary for Agriculture, Livestock and Fisheries, Willy Bett said the Agriculture Credit Guarantee Scheme agreement (ACGS) with Equity Bank will cushion smallholders from under-financing that hinders productivity.
"This new credit guarantee scheme will enable small scale farmers’ access funds to cater for critical inputs like seeds, fertilizers and pesticides. We are exploring new financing models for smallholders to enhance sustainability of their enterprise," said Bett. Read more. Source | Coast Week