Agricultural Finance Corporation unveils credit facility for women- 2018
20/6/2018. According to Food and Agriculture Organization (FAO), women produce more than 50 percent of the food grown worldwide. They play multiple roles in the agricultural production and food security. In sub-saharan Africa; women contribute 60 to 80 percent of the labour in food production. In Kenya, a sizeable proportion of the rural labour force is over 51% and women are the majority hence their crucial role in translating agricultural production to food and nutrition. Despite their significant contributions, many women still grapple with limited access to credit facilities which impedes their efforts to expand and enhance their farming activities. To mitigate on the difficulties women experience, the Corporation has developed a credit plus delivery model targeting women agripreneurs to enhance financial inclusion of women in the agricultural value chain. The facility dubbed Women Affirmative Access Window (WAAW) is expected to enhance financial inclusion for women in agriculture at production, mechanization, post-harvest management, value addition, as well as access to local and export markets. WAAW will further encourage women to get involved in commercial agricultural activities by ensuring they have the requisite financial assistance. The WAAW initiative targets at least 10,000 women in each of the 47 counties, particularly those in the rural areas. The Corporation proposes to utilize alternative collateral including market contracts, check off system, character based-relationships and credit guarantees to replace or complement hard collateral as has traditionally been used. This will enhance financial inclusion of the previously financially excluded segments mainly women and youth.