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AFC gives farmers more time to clear loans

Franklin Bett
Mr Franklin Bett, AFC chairman. FILE PHOTO | NMG 

The Agricultural Finance Corporation (AFC) has said it will not write off loans advanced to farmers but will instead give them more time to clear the facilities.

Board chairman Franklin Bett noted that weather uncertainties in most parts of the county had led to farmers incurring huge losses and are, therefore, unable to repay the loans within stipulated timelines.

Mr Bett was speaking Monday in Nanyuki town during a training for farmers from Laikipia and neighbouring counties, which he said was aimed at building capacity and enhance farmers’ performance in agriculture with the view to linking them to markets as well as financial services.

“This training programme will help boost the livelihoods of the people by empowering them to be more productive. This will go in line with alleviating poverty and create more employment across the country,” said Mr Bett.

Speaking during the training, former National Assembly Speaker Francis ole Kaparo supported the move by AFC to defer the loans repayment.

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He noted that at times, bad weather adversely affected crops and livestock, making farmers unable to repay loans in time.

Last year, the government was mulling a merger of the AFC, the National Cereals and Produce Board and the Agricultural Development Corporation in a bid to boost efficiency and cut wastage.

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