KCB targets 2 million farmers in Kenya and Rwanda under MobiGrow, in the next 5 years
(Ecofin Agency) - Kenya Commercial Bank (KCB) recently launched a new credit granting scheme called “MobiGrow” to ensure a better access to financing for Kenyan and Rwandan farmers.
The service also provides for agricultural training and technical advices. Through this program, the bank is targeting 2 million smallholders in Kenya and Rwanda over the next 5 years. In the meantime, MobiGrow trains 200,000 farmers in agri-business with the possibility to receive loan to boost production.
According to Annastacia Kimtai, KCB’s chairwoman, this new product aims to ease access to financial services for smallholders while bolstering the value chain. “We are leveraging technology to tackle the challenges faced by farmers when it comes to credit access and inclusion. We are also empowering farmers with non-financial solutions such as capacity building forums to grow their agribusinesses,” she said.