AFC MARSABIT BRANCH BREAKING 2020

Tuesday 24th November, 2020. The Agricultural Finance Corporation in partnership with ACDI-VOCA held a ground-breaking ceremony for the construction of an AFC branch in Marsabit County. AFC has adopted a new strategic direction with financial inclusion being a central pillar. Under this pillar, the Corporation seeks to deepen financial inclusion and facilitate access to finance by previously underserved segments. The pillar has thematic targeting interventions for youth, women and faith responsive financial products particularly in the Northern Frontier Counties. Speaking during the function, AFC’s Board Chairman Hon. Franklin Bett pointed out that the construction of Marsabit Branch is a demonstration of AFC’s commitment towards addressing systemic challenges that have hindered farmers from accessing agricultural finance in the region. “Marsabit branch will stimulate investment through agriculture and accelerate the development of agribusiness in Marsabit County by financing priority value chains such as livestock and horticulture. The branch will also provide the people of Marsabit with an opportunity to access affordable agrifinance and consequently support entrepreneurship and youth employment.” On her part, AFC Ag. Managing Director, Mrs. Rose Ochanda said that through the Marsabit branch, AFC will support farmers, ranchers and pastoral communities to transform their production into commercial undertakings. Financing such agricultural activities will spur a rise in agribusiness and create employment for the residents. “We have reviewed our business model to design products that are responsive to Northern Kenya. The remodeling includes the approval of an Islamic Finance Window which is now being piloted and which we hope to first operationalize here in Marsabit.” Mrs. Ochanda further thanked ACDI-VOCA noting that they have been a valuable development partner. “We started working together in 2017 and over the last three years we have invested in excess of Kshs. 25 million bringing our total commitments in Marsabit to about Kshs. 42 million. There is also an active pipeline of pending viable applications that will see this investment grow. AFC appreciates your continued support and we look forward deepening the relationship” she said.