Thursday, December 12, 2024

Potato farmers now to get cheap loans

Potato farmers now to get cheap loans

At least 23,000 potato farmers in 13 counties are set to get cheap loans that will help boost their production and ease access to the market.

This follows a deal between the National Potato Council of Kenya (NPCK), Alliance for Green Revolution in Africa and Nyandarua County.

To qualify for the loans, a potato farmer must be a member of a group or cooperative society and must own at least an acre of land. They will access loans from Sh. 50,000 to Sh. 1billion at 14 per cent interest rate from African Finance Corporation and Kenya Women Finance Trust.

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Under the two-year pilot project, farmers will be shown how to develop business plans, adopt mechanised farming and use certified seeds for improved production.

At the end of the two years, Kenyan farmers will be able to produce 63,600 tonnes to meet consumer demand. The processors committed to be purchasing 2,650 metric tonnes per month from the farmers.

The farmers participating in the project are drawn from Nyandarua, Meru, Bungoma, Trans Nzoia, Bomet, Elgeyo Marakwet, Bomet, Kisumu, Migori, Kakamega, Nakuru, Uasin Gishu and Laikipia counties.

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