The Agricultural Finance Corporation has introduced a financing credit facility targeting women to enhance financial inclusion of women in the agriculture value chain.
Crops development Principal Secretary Richard Lesiyampe says the country must recognize and support the huge role women play in driving the country’s food security agenda.
Recent reports indicate that women provide about 70 percent of the labor force in small scale farming, making them an integral part in the country’s quest to increase food production.
Despite this, many women still grapple with the limited access to credit facilities which impedes their efforts to expand and enhance their farming activities.
The Agricultural Finance Corporation has in this regard introduced a credit facility dubbed Women Affirmative Access Window (WAAW).
AFC Managing Director Lucas Meso says the facility will enhance financial inclusion for women in agriculture at production, mechanization, post-harvest management, value addition, as well as access to local and export markets.
Meso says the facility is also expected to ease the gender specific constraints that Kenyan Women face in agriculture.
Lesiyampe says there is need to encourage more women to get involved in agricultural activities by ensuring they have the requisite financial assistance.
AFC has partnered with the Alliance for a Green Revolution in Africa (AGRA), to extend Ksh 3 billion to about 3000,000 small scale farmers over the next three years. AFC is proposing to utilize alternative collateral to ensure the credit facility is more effective and well utilized.