The 2005 Aga Khan Agency for Microfinance Annual Report

In an area that is particularly vulnerable to drought and famine, closeto 80 percent of these individuals earned less than a dollar a day atthe time of their loan application.In the Central Province, Frigoken, an agro-industrial project companyof AKFED, is the backdrop for AKAM’s microcredit activities.Over 900 individuals, approximately 50 percent of whom arefarmers, have gained access to credit under AKAM’s programme.The loans assist farmers to enhance supplies of French beans forpurchase, processing and export by Frigoken. In addition, loans aregiven to farmers to diversify their crop range for greater stabilityof incomes. The start-up of close to 250 retail enterprises hasbenefited from this programme.CREDIT HAS HELPED WORKERS AT FRIGO-KEN, AN AKFED PROJECT COMPANY INKENYA, TO AUGMENT THEIR INCOMESTHROUGH THE START UP OF INDEPEND-ENT ECONOMIC ACTIVITY.The initial successes in both these provinces have given impetusto plans for a rapid expansion of activities as well as the introductionof loans for housing improvement, education and health.27