August 17, 2022

Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya

The Leading Newspaper for Co-operative Movement in Kenya

AFC reopens its branch in Maralal town

AFC Head of Operations, Millicent Omukaga addresses the media after reopening of the AFC branch in Maralal town on January 31, 2018.


By Johnston Kieti

Farmers in need of loans in Samburu County have found relief after Agricultural Finance Corporation (AFC) reopened its branch in Maralal town.
The branch collapsed in 1992 after farmers failed to repay loans within the required time.
Speaking during a re-opening ceremony, AFC’s Head of Operations Millicent Omukaga said the new branch will create employment and empower farmers through agriculture.
“We don’t want Samburu to be the one still importing food from elsewhere, it is our support for the President’s agenda that food will be produced here,” she said.
Once the county has educated residents on the best farming practices, Omukaga said AFC will advance loans to youths for them to establish business enterprises in the field of agriculture.
“This year we are targeting to have 2,000 farmers in this county and planning to disburse at least Sh100m in loans,” she added.
The county pledged to support AFC to achieve its mandate by committing to provide extension services to farmers to enable them make their farms profitable.
Samburu Executive Committee member in charge of Agriculture Vincent Learaman said, “Good news about AFC is that their credit is affordable at lower lending rates of 10 per cent per annum,” he said.