State pushes banks to give farmers better forex deals

DNLinturi2811ef

Agriculture and livestock development Cabinet Secretary Mithika Linturi addressing journalists at Kilimo house. PHOTO | LUCY WANJIRU | NMG 

Agriculture Cabinet Secretary Mithika Linturi has accused commercial banks of denying farmers the foreign exchange gains associated with the weakened shilling on exported teas, calling for adjustments to reflect the actual amount as quoted by the Central Bank of Kenya (CBK).

Mr Linturi said farmers should currently be benefiting from a weakening shilling, however, the commercial banks have denied them by offering rock-bottom exchange rates.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.