Supporting
Agriculture
About AFC
The Agricultural Finance Corporation (AFC)
is a development finance institution wholly owned by the government of the Republic of Kenya and focused on financing agriculture sector value chains to stimulate the development of the agriculture sector and the economy in general. AFC traces its origin to the Land and Agricultural Bank (of Kenya), established in 1933 to serve the interests of white settler farmers in Kenya. In 1963, the Agricultural Finance Corporation was formed as a subsidiary of the Land and Agricultural Bank, with the primary objective of facilitating land transfer from colonial settlers to native Africans. During and after the independence transition, land transfer from colonial settlers to native Africans was successfully and peacefully realized through funding by the Corporation.
In 1969, the Land and Agricultural Bank and Agricultural Finance Corporation were merged, and consequently, a fully-fledged Development Finance Institution was established under the Agricultural Finance Corporation Act (Cap 323 of the laws of Kenya). AFC took over the assets and liabilities of the Land and Agricultural Bank but remained a credit-only financial institution. The Corporation has its headquarters in Nairobi, and operations are segmented into six regions and has forty-eight (48) branches across the country.
Today we remain the leading Government Credit institution mandated to provide credit for the sole purpose of developing agriculture. This role is crucial given that Agriculture is the mainstay of the Kenyan economy where 80% of the Kenyan population which is rural based relies on agriculture as their main support system.
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