This archive report was first published on 20 December 2021.
December 20, 2021 - In a bid to boost Kenya's agricultural sector, Family Bank has committed Sh6 billion to extend affordable credit to agribusinesses across 17 counties.
The initiative, part of the Kenya Investment Mechanism program, targets businesses in the dairy, horticulture, livestock, and energy sectors, among others, for the next year.
The first stage of the initiative focuses on businesses in Homa Bay, Migori, Kisii, Kisumu, Siaya, Kakamega, Bungoma, Busia, Vihiga, Kitui, Makueni, Taita Taveta, Isiolo, Marsabit, Turkana, Garissa, and Wajir counties.
Family Bank's Chief Executive Officer, Rebecca Mbithi, emphasized the bank's commitment to supporting agribusinesses in scaling climate-smart agriculture technologies.
Climate change has worsened weather-related risks in Kenya, resulting in significant losses for farmers, with the economy losing Sh1.33 trillion between 2008 and 2011 due to extreme drought.
Family Bank aims to extend its support to agribusinesses through affordable credit and capacity building to enhance sustainability.
