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Grain value chain/Kenya - Grain farmers to get asset financing at 9%

05 août 2015

In Kenya, Transnational Bank has partnered with BrazAgro, a farm machinery dealer, to issue grain farmers with funds to purchase storage facilities at an interest rate of 9pc. The transformational financing would be pegged against warehouse receipts with farmers accessing credit for up to 60 per cent of the value of their grains stored at warehouses. With the warehouse receipt, smallholder farmers can also solve challenges related to lack of transparency and inadequate market information. Grain farmers are to acquire metallic silos for storing grains to mitigate post-harvest losses caused by grain borer and aflatoxin. Each silo will retail for nearly Euros 3,840. According to Transnational Bank’s chief executive officer, the partnership initiative will help smallholder farmers to produce up to 6 tonnes then safely store their maize away from grain borers and aflatoxin poisoning thus tremendously reduce their post-harvest losses.


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