The Agricultural Finance Corporation (AFC) lent farmers and co-operative societies Sh3.53 billion in the financial year ended June 2024, down from Sh4.11 billion, marking the third straight year of reduced lending on the back of elevated defaults.
The corporation says the performance was below target and marked a further decline from Sh5.58 billion lend in the year to June 2022, even as it continued to push to recover billions of shillings that are now in default.
