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Facts:<br />
Agriculture<br />
contributes about 26%<br />
of the country’s GDP<br />
Agriculture employs<br />
about 75% of Kenya’s<br />
population.<br />
Agricultural produce<br />
exports account for<br />
nearly two thirds of the<br />
total domestic export<br />
100,000 - the<br />
individual number of<br />
youth and women <strong>KCB</strong><br />
Group has committed<br />
to funding in the<br />
agricultural sector<br />
INDUSTRY<br />
<strong>KCB</strong> Group commits<br />
to fund farming<br />
A<br />
rguably, every person on the African<br />
continent has either grown up on<br />
agriculture or has been educated<br />
on agriculture - an indication<br />
of the importance this sector<br />
holds in our lives and the<br />
economy.<br />
The sustainability of livelihoods is dependent<br />
on the bulk of investments made. Subsequently,<br />
an enormous multiplier effect is washing over the<br />
value chain (from the farmer, to the seller, to the<br />
consumer then to the economy).<br />
In an effort to enable farmers transform their<br />
farming practices from subsistence farming to<br />
commercial businesses through financial inclusion,<br />
<strong>KCB</strong> Group committed Kshs 35 billion (US$ 350<br />
million), 5 percent of their lending book, towards<br />
lending and capacity building in the agricultural<br />
sector over the next five years. This funding is<br />
expected to impact the lives of more than two<br />
million farmers including 100,000 youth and women<br />
who will now have access to affordable credit<br />
facilities.<br />
Furthermore, the partnership between <strong>KCB</strong><br />
Group and MasterCard Foundation will see the<br />
establishment of a Kshs 3 billion (US$30M) program<br />
that allows small holder farmers access to credit<br />
facilities and market information through their<br />
mobile phones in Kenya and Rwanda. Additionally,<br />
the partnership has seen the Bank also commit to<br />
spending $200 million (Kshs.20 billion) in credit<br />
to farmers under the programme dubbed <strong>KCB</strong><br />
MobiGro, manifesting its commitment towards<br />
supporting the agricultural sector in the region.<br />
By providing accessible funding coupled with<br />
training opportunities for the smallholder farmers<br />
and pastoralists, the bank aims to drive further<br />
growth and build on the strength of the sector<br />
seeing the significant and immediate impact it has<br />
to our country.<br />
Ksh20bn<br />
The amount that <strong>KCB</strong> Group has committed in credit<br />
to farmers under the programme dubbed ‘Mobigrow’<br />
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