COMMISSIONING OF AFC MARALAL BRANCH

Wednesday 11th November, 2020.The Agricultural Finance Corporation has today commissioned its Maralal Branch.This is in line with the Corporation’s strategic objective of enhancing financial inclusion, specifically for Kenyans living in the Northern Frontier Counties. Speaking during the function, AFC’s Board Chairman Hon. Franklin Bett pointed out that the reopening of Maralal Branch is a demonstration of AFC’s commitment towards addressing systemic challenges that have hindered farmers from accessing agricultural finance in the region. “This branch is strategically placed to stimulate investment through agriculture and accelerate the development of agribusiness in Samburu County, by financing priority value chains such as livestock and horticulture.” He said “One of the biggest hindrances to access to credit has been lack of collateral due to absence of title deeds in this region. However, on 3rd October, 2020, history was made when, for the first time since independence, women from Samburu community were among those who received title deeds under the National Titling Programme. This is a major milestone given that with title deeds, women will be able to engage in economic activities like farming, and can access credit with ease that will contribute to the big four agenda especially the pillar on Food and Nutrition security.” said Hon. Bett. On her part, AFC Ag. Managing Director, Mrs. Rose Ochanda said that AFC aims to help boost the livelihoods of the people of Samburu County by empowering them to be more productive and food secure to alleviate poverty and create more employment across the county. “I am delighted to report, that since we started the gradual resumption of operations, we have already invested more than Ksh. 100 Million. The Branch currently has a portfolio of Ksh. 64.2 Million with delinquency levels of 12.89% which is very encouraging. This shows that farmers here in Maralal take their commitments seriously.” She said “In developing the new Maralal model, we considered the County development integrated plan, especially the County’s focus on key result areas in agriculture. Our presence here therefore directly supports the County Government’s agenda and priorities. And we regard the County Government as a critical partner. Together we will seek to commercialize the operations of pastoralists and enhance gains of ranchers and the other viable opportunities.” She added. Earlier in the day, the AFC Chairman, board members and management paid a courtesy call on Samburu County Commissioner, John Korir and the Deputy Governor H.E Julius Leseeto.