Allow farmers to borrow from coffee cherry funds- Munya

BySacco Review

Apr 9, 2021

By Malachi Motano

Agriculture Cabinet Secretary Peter Munya has ordered boards of coffee cooperative societies to allow farmers to borrow from the Sh3 billion coffee advance cherry fund.

“It is not right for boards to deny farmers their right by failing to sign forms presented to them.From now on my office will crack the whip and dissolve these boards,” said Munya.

He said the reason why many farmers are not borrowing is due to the fact that society officials are failing to sign the forms, which is unacceptable.

According to the CS, a huge portion of the fund set aside to revive the sector is lying idle at Cooperative Bank of Kenya because many farmers are yet to borrow loans which only attract an interest rate of 3 percent.

He was speaking during a public participation meeting to sentisise farmers on a new Coffee Bill at Karatina stadium.

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