Kenyan govt to back the agricultural finance corporation with $14mln over 3 years
Tuesday, 12 May 2020 13:22
The Kenyan government plans to release up to KSh1.5 billion (about $14.1 million) to support the Agricultural Finance Corporation (AFC) over three years.
Local media reports the strategy is part of a program initiated by the Ministry of Finance to inject the same amount in each of its strategic public entities. The first tranche of KSh500 million will be disbursed during the FY2020-21, the second and the third of the same sum will come in FY2021-22 and FY2022-23.
This investment will support a sector that sustains about 80% of the Kenyan rural population. AFC says it intends to team up with other investors to increase the volume of loans and guarantees granted to its customers.
Chamberline Moko
Live News
-
Rising bad loans in Gabon and Cameroon heighten banking risk in CEMAC
19:57
-
Douala port awards cargo scanning concession to Transatlantic DSA
19:55
-
Benin prepares to bring flagship tourism projects on stream from 2027
19:14
-
Cameroon telecom regulator plans CFA46bn dividend payout in 2026
18:52
-
Starlink nears regulatory clearance for satellite internet launch in Cameroon
18:31
-
MTN South Sudan Cuts Prices by 25% Amid Government Push to Reduce Internet Costs
18:28
-
Off-Grid Solar Firm Sun King Raises $40 Million as It Scales in Africa, Asia
17:54
-
From Mobile Data to Farm Loans: How AI Is Expanding Rural Credit in Africa
17:24
-
Ethiopia Launches 5-Year Digital Payment Strategy, Instant Payment System
18:05
-
Togo Begins Distribution of 3,900 Home Solar Kits
17:54
Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...
Benin says a coup attempt was foiled, crediting an army that “refused to betray its oath.” ...
Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...
In Cotonou, Benin’s economic capital and home to the country’s leading institutions, the situation r...
GSMA outlines reforms needed to meet targets of the New Technological Deal 2034 High mobile taxes...
Benin plans to start operating major tourism projects from 2027–2028 The 2026 tourism budget falls sharply as large construction projects near...
MTN South Sudan cuts service prices by 25%, minister says Government presses operators to further reduce internet costs ITU says mobile internet...
Sun King raises $40 million equity from sustainable investor Lightrock Funding to expand off-grid solar operations across Africa and...
AI-backed agri-fintech is increasingly being used to pilot new rural credit models in Africa, where access to finance remains one of the main obstacles to...
MoMA opens Pan-African portrait photography exhibition on December 14 Show explores mid-20th century African identity and political...
Cameroon’s REPACI film festival returns Dec. 11-13 with 135 short films Events include screenings, masterclasses, panels on social cinema and...