Over 1,000 poultry farmers in Kibwezi, Makueni County, are set to benefit from credit facilities, vaccinated insured chicks, chicken feeds and vaccines following the launch of a Sh300 million poultry farmer’s empowerment project by Kenya Commercial Bank (KCB).
The project will be offered under the KCB’s MobiGrow, a mobile-based platform which provides financial and non-financial services to smallholder farmers in Kenya and Rwanda.
The project, dubbed ‘From Chick to Market,’ will see poultry farmers access an array of tailor-made MobiGrow services.
Upon the maturities of chicken, the birds will be bought at a pre-contracted prices by KCB’s market partners, which will guarantee farmers ready markets. Proceeds from the sales will then be remitted to farmers through their KCB MobiGrow accounts, to ensure the recovery of loan amounts.
Speaking during the launch of the project, KCB Bank head of MobiGrow Dickson Naftali said the bank is committed to growing agribusiness in the country.
‘We continue to accelerate access to financial services which is in line with our agenda to simplify the lives of our customers to enable their progress,” he said. So far, KCB Group has committed Sh50 billion for the next five years that will be extended to smallholder farmers. The project will see more start-up enterprises in the sector access credit facilities at concessionary rates.
On her side, Makueni Deputy County Governor Adelina Mwau praised KCB for empowering farmers by providing financial services and expertise to enable them to thrive in their agribusinesses. “Agriculture in Kenya is a critical sector which is why the government has recognised it as a key pillar for the growth of the economy. It is therefore very encouraging that organisations such as KCB are cognisant of this, and are investing in the sector,” said the Deputy Governor.
KCB Group has committed Sh50 billion for the next five years to be extended to smallholder farmers.