KCB Group has partnered with African Green Revolution Forum to boost the agricultural sector by empowering agronomists, small scale farmers and youths in the sector.
With the partnership KCB will be looking at ways of availing cheaper agricultural loans to agribusinesses while AGRA will be seeking for ways to educate farmers and youths on the modern technology to make farming attractive to the youths.
Agriculture adds up to about 75% economical dependence, with Food import currently standing at 40 billion in the country.
Speaking during the signing of the Ksh.10 Million cheque towards the initiative, Dr.Agnes Kalibata who is the president of AGRF said and they are ready to boost the agricultural sector and empower more youths and women in the sector.
“We have so far created employment opportunities for 13,000 youths across 22 counties and we are ready within the help of any interested partners to do more in the shortest period possible,” revealed Dr.Kalibata.
“Financial institutions are key in mobilizing private financing necessary for a sustainable agriculture transformation .We are delighted to receive this support from the KCB Group to organize AGRF which is Africa’s premier agriculture platform where private sector and public partners will meet to prioritize investment in the agricultural sector for inclusive growth and development,” added Dr.Kalibata.
According to Mrs. Annastacia Kimtai, KCB Bank Kenya Retail Director, the main focus is to elevate small scale farmers and subsistence farmers to cash farmers.
“Africa can no longer afford to be a hungry continent with all the resources and technology it has.”
“The vision of this partnership is advancing African agriculture to as a desirable level especially within the next decade in order to achieve 100% food security and sustainability which is part of the Sustainable Development Goals to end hunger, achieve food security and improved nutrition and promote sustainable agriculture,” reiterated Kimtai.
KCB and AGRA have in the last few months been engaged in a US$ 319,000 partnership whose aim was to prove the concept of mobile based agriculture financial solutions through MobiGro.
In the long term, KCB will facilitate capacity building of the financial and agricultural value chains in order to develop delivery mechanisms such as branchless banking, ICT tools and intermediaries that will enable both value chains to work together.
This MoU signing comes at a time that the country is preparing to host this year’s agricultural forum themed “Seize the Moment: Africa Rising through Agricultural Transformation,” which is expected to be the largest AGRF to date with over 1,500 delegates including Africa heads of state, top CEOs, heads of development agencies, farmers organizations, youth and women groups among others expected to attend.