Posted on July, 4, 2019 at 10:52 am
Agricultural Finance Corporation (AFC) will soon launch women-friendly products, in a bid to assist women to participate in the whole agriculture value chain.
AFC Board Chairperson Franklin Bett says plans are underway to establish AFC bank that will advance cheap loans to farmers in a bid to boost agricultural production in the country.
Access to cheap capital has been a major challenge in the agriculture sector with many potential farmers especially women and the youth locked out of the sector due to limited access to finances.
To ensure women and the youth fully participate in the agriculture sector, Agricultural Finance Corporation says it will soon come up with financial products tailor-made for women in agriculture.
AFC will also come up with the sharia-compliant products in a bid to widen their reach and rope in more farmers.
County governments have been urged to advocate for agriculture diversification and increase budgetary allocations to the agriculture sector.
Elsewhere, Bett has appealed to Busia county government to set up a one-stop resource centre that will help farmers look for a ready market for their products within the county and abroad.
Governor Sospeter Ojamoong is expected to come up with strategies on how to assist farmers in accessing funds.
Speaking in Busia during the official commissioning of Busia AFC branch, Bett stated that farmers across the country have been having a challenge of accessing markets for their products a move that has demoralized a number of them.
He added that they will work tirelessly to ensure AFC bank is established to support farmers and enable them to borrow funds to boost their agricultural projects.
Busia Governor Sospeter Ojaamong noted that his government will prioritize marketing of the facility to benefit farmers.
The county boss said that farmers at the grass root level will also be sensitized to invest in livestock and crop farming in a bid to boost food security.
AFC Managing Director Lucas Meso revealed that soon they will launch a women-friendly product in a bid to attract more farmers in the region.
AFC is also expected to establish Islamic products so that they can also benefit from the corporation.