Bank starts Sh300m poultry project in Makueni : The Standard

KCB Bank has launched a Sh300 million poultry farmer empowerment project in Makueni Conty. The project will enable more than 1,000 poultry farmers in Kibwezi access credit facilities, capital, vaccinated insured chicks, chicken feed and vaccines. It will be offered under KCB MobiGrow, a mobile-based platform which provides financial and non-financial services to smallholder farmers in Kenya and Rwanda. Under the project dubbed, ‘From Chick to Market’, poultry farmers will access various tailor-made MobiGrow services.

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Upon maturity, the chicken will be bought at a pre-contracted price by KCB market partners, guaranteeing farmers a ready market. Proceeds from the sales will then be remitted to farmers through their KCB MobiGrow accounts to ensure the recovery of loan amounts. “We are 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,” said KCB Bank Head of MobiGrow Dickson Naftali. Concessionary rates KCB Group has committed Sh50 billion for the next five years to be extended to smallholder farmers. This will see more startup enterprises in the sector access credit facilities at concessionary rates.

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Makueni Deputy County Governor Adelina Mwau lauded KCB for empowering farmers by providing financial services and expertise to enable them to thrive in their agribusinesses. “Agriculture 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,” she said. KCB Group has committed Sh50 billion for the next five years to be extended to smallholder farmers. This will see more start-up enterprises in the sector access credit facilities at concessionary rates.    KCB MobiGrow, an initiative in partnership with MasterCard Foundation, works with various value chains including dairy, maize, potato, sorghum and rice.

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Related Topics

Poultry farmingMakueni CountyKCB MobiGrowFrom Chick to Market