Govt. waives Sh1.5bn in farmer loans to AFC

Govt. waives Sh1.5bn in farmer loans to AFC

The government has waived Sh1.5 billion worth of loans owed to the Agricultural Finance Corporation (AFC) by farmers in three counties.

The waiver will be given to cereal and livestock farmers in Baringo, Narok and Kajiado counties that were affected by drought.

In a statement, State House said the move would help ease the financial pressure on farmers and ease distress by farmers affected by drought at the start of the year.

“The loans were taken to support wheat, sorghum and livestock farming, but capricious weather led to heavy farm losses and farmers were unable to repay,” State House spokesperson Manoah Esipisu said.

At the same time Mr Esipisu said that President Uhuru Kenyatta had directed that farmers be given back their title deeds by AFC.

“The President directed the national Treasury, working with AFC, to ensure that farmers are handed back their title deeds to ease pressure on them and to allow them take other investment decisions,” he said.

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