Over KShs. 30 million was raised during this year’s Annual Kimalel Goat Auction, in Baringo County on Thursday.
The annual event which was attended by His Excellency the President Dr. William Ruto saw at least 1,800 farmers participate at the auction, with at least 2500 goats sold, with each goat fetching at least KShs. 12,000. All the proceeds were received by KCB Bank through the Kimalel Account, at KCB Marigat branch.
The KCB Foundation supported the County Government of Baringo with a KShs. 5 million boost to hold the auction which attracts top business people, senior government officials and politicians.
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Speaking during the event, Head of KCB Foundation, Caroline Wanjeri, affirmed the Bank’s commitment to supporting the livestock sector which remains a key contributor to Kenya’s economy and improving the livelihoods of smallholder farmers.
“Our relationship with the Baringo County livestock sector dates back to 2014 when KCB Foundation, through the Mifugo Ni Mali programme signed a partnership agreement with the County, providing a KShs. 30 million, interest-free loan geared towards improving livestock productivity, value addition, business development and market access initiatives,” Wanjeri mentioned.
Mifugo Ni Mali is a livestock value chain programme that targets livestock keepers in the Arid and Semi-Arid Lands (ASALs) with a view to commercialising the sector and transforming it into a vibrant segment where livestock producers can realise maximum returns.
Using market organisations through co-operatives and group ranches livestock value chain enterprises are helped to address productivity, nutrition and husbandry challenges, and also gain access to discounted loans from KCB. It targets to reach producer organisations in the livestock value chain in dairy, meat, honey and fish.
Like the previous years’ events, the 2022 Annual Kimalel Goat Auction is aimed at providing an easy market for farmers who have not been able to optimize returns. Farmers also had an opportunity to exhibit their livestock, network as well as market their produce.
The Mifugo ni Mali programme also entails the training of farmers and livestock groups on key skills such as governance and record management and the issuance of loans to these groups. So far, over 200 livestock groups have been trained and KShs.140 million issued as loans to 45 livestock groups (FPOs) since 2014.
The Kenyan livestock sub-sector contributes approximately 12 per cent of the national Gross Domestic Product (GDP) and accounts for 30 per cent of the country’s agricultural output. However, the livestock sub-sector has failed to develop to its full potential of a highly profitable commercial sector with high returns to the farmers due to various challenges including droughts, diseases due to open grazing, and poor breeds.
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In January this year, the KCB Foundation through the Mifugo Ni Mali programme set aside Ksh. 50 million to support over 5,000 farmers chain in the form working capital and asset-based financing from 20 counties in the livestock value chain.
The first phase of the programme was implemented in 10 counties; Laikipia, Baringo, Samburu, Taita Taveta, Narok, Kajiado, Mombasa, Kwale, Kilifi, Marsabit. The second phase of the programme is underway in Isiolo, Wajir, Tana River, Lamu, Garissa, Turkana, West Pokot, Busia, Mandera and Kitui counties.
The Mifugo Ni Mali programme was launched in 2014 as an Enterprise Development programme working with Farmer Producer Organizations (FPOs) focusing on four value-chains: meat, dairy, apiculture and aquaculture.
