Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
Farmers replace property developers as biggest loan defaulters in Covid-19 era
Workers harvest wheat on a farm. About 23.67 percent of Sh109 billion loans advanced to the agricultural sector were not being serviced as of the end of March 2021. FILE PHOTO | NMG
Farmers overtook property developers and traders in loan defaults in the first year of Covid-19 shutdowns and restrictions, highlighting the struggle players in the key agricultural sector endured in sustaining the market for fresh produce.
About 23.67 percent of outstanding Sh109 billion loans advanced to the sector were not being serviced as of the end of March compared to 16.03 percent a year earlier, making it the sector with the highest non-performing loans (NPL) ratio.
