Deputy President Rigathi Gachagua has announced that the government will release the coffee cherry revolving fund to farmers soon.
He said the government has allocated Ksh4 billion, adding to the Ksh2.7 billion that was earlier allocated, assuring that the government is committed to restoring the glory of the sub-sector as was in the 1980s.
“The sweet aroma must be back in our coffee the way it was back in the 1970s and 1980s, when coffee was the nation’s leading foreign exchange earner,” he said.
Gachagua was speaking today in his Karen office during a meeting with the Cabinet Secretary for Cooperatives and Micro, Small, and Medium Enterprises Development, Simon Chelugui together with other stakeholders.
He said that from the kitty, farmers will receive an advance Ksh80 per kilo of cherry up from Ksh20.
The Coffee Cherry Advance Revolving Fund (CCARF) was established to provide affordable, sustainable and accessible cherry advances to smallholder coffee farmers with land under coffee not exceeding 20 acres.
The new Kenya Planters Cooperative Union (KPCU) was given the mandate to manage and administer the fund to coffee farmers as per the Public Finance Management Act (Coffee Cherry Advance Revolving Fund) Regulations 2020.
By Amos Kerich
Get more stories from our website: Sacco Review.
For comments and clarifications, write to: Saccoreview@shrendpublishers.co.ke
Kindly follow us via our social media pages on Facebook: Sacco Review Newspaper for timely updates
Stay ahead of the pack! Grab the latest Sacco Review newspaper!