Kitui Farmers to Access Affordable Loans from Agricultural Finance Corporation

Kitui Governor Charity Ngilu has encouraged farmers in the county to apply for cheap loans from the Agricultural Finance Corporation {AFC}to boost farming activities and increase food production.Speaking during a farmers’ training session at the Agricultural Training College in Kitui town on Thursday, the Governor said the entrance of the corporation to the market will ensure farmers access affordable loans and service their agri-business needs. “I know, without an iota of doubt, that farmer of Kitui will kick poverty out of their lives, I am sure AFC will be part of this journey.” Governor Ngilu said.The corporation loans are fast in processing, less conditions attached and have a lower interest rate of 10% interest compared to the commercial banks loans which are priced at 13% and above.

The AFC loans have a flexible repayment period.On her part, UN Women Kenya Country Office Director, Karin Fueg, pledged the United Nations support in enhancing the lives of farmers, more specifically the women engaged in farming activities. “UNWomen will remain committed through AFC and the Governor’s office to ensure that the lives of women in Kitui is enhanced more so in farming and bee keeping, it’s our sole responsibility.”Agricultural Finance Corporation Board Chairman Franklyn Bett pledged the corporation’s commitment to enhance the lives of farmers in the county.Further he called on the county Government to set up a robust marketing strategy for the farm produce being produced in the county.

“AFC is steadfast to offer financial solutions for the county farmers, on the county government’s side, a proper marketing strategy should be put in place for the produce of this county. Its paramount.” Bett said. Most farmers in the country prefer the corporation loans that are fast in processing, have a lower interest rate of 10% interest compared to the bank’s 13% and have a flexible repayment period.