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August 17, 2007

Kenyan cane farmers receive productivity funding

Agricultural Finance Corporation (AFC) has lent over Sh250 million ($4 million) to Kenyan cane farmers to help them increase production.

The corporation's operations manager, R. K. Malel, said AFC had disbursed a total of Sh3.5 billion ($52 million) to various agricultural activities across the country. Out of this, he said, Sony sugarbelt in Southern Nyanza Province benefited from Sh77 million ($1.1 million).

Kenya Sugar Board (KSB) chief executive, Andrew Otieno, said the board had already approved the use of Sh130 million ($2 million) to buy tractors to hasten cane transport from farms to the factory. He said a total of Sh10.7 billion ($160 million) had been given out by the Sugar Development Fund (SDF) to support growth in the industry.

Otieno announced that KSB would give growers another Sh200 million ($3 million) loan, through the AFC, to increase cane production ahead of the removal of COMESA safeguards next year. He also said talks were going on between the board and the Ministry of Agriculture to reduce the cost of farm inputs.

Daily Nation

 

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