Livestock farmers living in Kenya’s Arid and Semi-arid lands are set to benefit from a Sh 100m financing from KCB Foundation to aid in curtailing the drought situation in the country.
The financing which is also in partnership with the United States Agency for International Development will see farmers receive training that will equip them with climate-smart agricultural practices to mitigate the dire impacts of climate change.
Under the two-year partnership, at least 50 livestock cooperatives and farmers’ groups will receive technical support to increase their productivity. The first year of the partnership will see KCB train bank staff on livestock financing which is expected to grow to Shs 500 million.
Value-addition
Speaking during the Memorandum of Understanding (MoU) signing, KCB Head of Foundation Caroline Wanjeri said the training of KCB staff on livestock financing will enable the bank to identify better ways to support smallholder farmers, who would otherwise be considered high risk.
“By working through farmer producer organizations, we are able to reach more farmers, improve their commercial practices, enhance access to credit and bring in value-addition,” she added.
On her part, Kenya Investment Mechanism’s Deputy Chief of Party Dr. Grace Mwai noted that the collaboration established with the Foundation will go a long way in unlocking financing for the livestock sector in the meat, milk, honey, and fish value chains.”
“We work through strategic partnerships with local partners such as the KCB Foundation to enhance our private capital mobilization efforts for the agricultural sector.”
Kenya Investment Mechanism is a five-year USAID project aimed at unlocking private finance and investment for key sectors of Kenya’s economy, including agriculture.
