Youth, women agribusinesses set to receive Sh5.1bn fundingadmin
At least 2,400 youth and women led agribusinesses will benefit from Sh5.1 billion funding from the European Union and partners.
The AgriBiz programme, which will be implemented by the Kenya Climate Innovation Centre (KCIC), seeks to address challenges that youth and women face in agriculture.
Beneficiaries will receive training, business advisories, mentorship and financing (grants, loans or both) to support and grow their business ideas.
EU Ambassador Simon Mordue urged EU partners to support Kenyan farmers and entrepreneurs through digital technologies.
“We know there are many youth and women with excellent business ideas in Kenya, and we are happy that KCIC has found a way to bring technical and financial assistance to them, despite the current lockdown. This is a vital injection of life for the Kenyan economy and food security,” Mr Murdoe said.
The funding is from the EU, Denmark (Danida) and the African Development Bank (AfDB).
The programme is set to benefit the countrys economy and rural livelihoods.
“The enterprises will create 17,000 job opportunities along agricultural value chains and will increase smallholder production and household incomes thus ensuring the country’s food security,” Ambassador Murdoe said.
It will be rolled out in eight counties of Kilifi, Machakos, Kiambu, Meru, Isiolo, Kisii, Bungoma and Uasin Gishu.
However, the outbreak of the coronavirus has slowed down the programme. The EU, Belgium, Sweden, France and the Netherlands gave Kenya Sh2.4 billion to boost food security last month.
This comes as thousands face starvation due to recent flooding and locust invasions. The outbreak of the pandemic has exacerbated the situation.
Source : www.businessdailyafrica.com