This as part of the bank’s plans to raise its market share in the agricultural sector by providing products and solutions geared at impacting the value chain.
“We recognize the important role that agriculture plays in food security and employment in Kenya and that is why we have designated agricultural financing as a key focus area,” said Ecobank Kenya and EAC Director of Commercial Banking Samuel Odhiambo.
“We have set aside an initial fund of Ksh.1 billion to support coffee, tea and dairy sectors in Nyeri County and the greater Mt. Kenya region. The money will be available for lending to farmers and organisations that meet the minimum criteria set by the bank.”
The Ksh.1 billion facility is expected to provide credit facilities to support the acquisition of agricultural equipment and infrastructure.
The bank says it will be tapping on its experience in other markets on the continent to deliver better solutions for the Agriculture sector in the Kenyan market.
The management of Ecobank Kenya has met with over 100 Farmers’ Cooperative Societies from the County of Nyeri and the Mt. Kenya region ahead of the rollout of the credit initiative.
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