FINANCIAL BOOST

EU to support women and youth led farming outfits

Agribusinesses selected for the programme will benefit from training, business advisory and financing

In Summary
  • The programme will create 17,000 jobs in the agricultural sector across the country in the next five years.
  • AgriBiz will fund 2400 women and youth-led agribusinesses as part of the programme, and reach over 1.2 million smallholder beneficiaries over a period of five years at a cost of Sh5.1 billion.
Sarah Nyamae a farmer from Kalimoni in Machakos county harvests maize in her farm.
Sarah Nyamae a farmer from Kalimoni in Machakos county harvests maize in her farm.
Image: File

The European Union has  funded an agriculture programme for selected 200 women and youth led enterprises for support.

Dubbed AgriBiz, the programme targets creating 17,000 jobs in the agricultural sector countrywide in the next five years.

The 200 candidates include early stage/start-up companies, Small and Medium-sized Enterprises (SMEs), women and youth-led community based organisations, as well as self-help groups.

 

The aim is to increase smallholder production, improve food security and boost household incomes.

AgriBiz will fund 2,400 women and youth-led agribusinesses as part of the programme, and reach over 1.2 million smallholder beneficiaries over a period of five years at a cost of Sh5.1 billion.

An additional Sh17.1 billion in loans will also be leveraged from local financial institutions to support the enterprises.

Those selected for the programme will benefit from training, business advisory and financing to promote the sustainable use of natural resources and encourage appropriate agribusiness practices.

This will be done through business incubation hubs in Kilifi, Machakos, Kiambu, Meru, Isiolo, Kisii, Bungoma and Uasin Gishu.

“By bringing in young people and women into the sector, and in the process creating over 17, 000 jobs across Kenya, we are helping to boost the sustainability of the Kenyan agricultural sector and to move it up the value chain,” said Simon Mordue, EU Ambassador.

Over a five-year period the programme will support over 1,600 enterprises to develop bankable business plans, 1,200 enterprises to access financing from financial institutions and over 1,500 women to access EU supported community level micro financial services.