President Uhuru Kenyatta reiterated his commitment to reviving the agricultural sector through a raft of far-reaching reforms. This time, the Government has announced a new fund for lending to support to the activities of coffee farmers.
The Sh3 billion revolving fund set to be operational by July this year is part of a package of goodies the President has outlined for farmers in a sector that is now on the verge of extinction due to poor management across the value chain of the crop that once used to top the country’s export charts.
These reforms are centered towards boosting production, reduce the cost of processing, as well as transaction costs. The President added that Kenya’s Coffee future cannot be bright if some of the participants in the coffee industry do not receive their just due.
Additionally, the President announced that the State has as of this year set up a Sh3 billion Cherry advance revolving fund to be operational from July 1. In his words “Coffee is a cash-crop that provides livelihoods to millions of persons in coffee growing and exporting countries, whole communities and even national economies can be immeasurably better off because of coffee. Consequently, all coffee farmers across the country will be able to access the fund at a modest interest rate of 3 per cent,” he said.