New KPCU disburses KSh52 million to coffee farmers, Machakos gets lion’s share

Sacco growth
Cooperatives and MSMEs Development CS Simon Chelugui

Ministry of Cooperatives and MSME Development has disbursed KSh52,212,976 Coffee Cherry Advance Revolving Fund (CCARF) to 3328 coffee farmers across 15 counties

Cooperatives Cabinet Secretary Simon Chelugui indicated in statement on Tuesday that the funds were released between May 6, 2024 and May 13, 2024 through New Kenya Planters Cooperative Union (KPCU). A total of KSh 4.2 billion has been released as of May 13, 2024.

Counties that have received the fund include Baringo, Bungoma, Laikipia, Nakuru, Nandi, Murang’a, Tharaka Nithi, Trans Nzoia, Kiambu, Machakos, Meru, Migori, Embu, Kericho and Nyeri.

The highest disbursement was in Machakos County, whereby a total of KSh 21,186,267 was disbursed. The uptake in Machakos is expected to increase significantly as farmers are currently picking their cherry.

The highest uptake of cherry advance in cooperative societies was in Kambusu FCS with a total of KSh12,488,145 disbursed to 1945 farmers.

READ ALSO:

CIC profits increase by 818 per cent to KSh1.4 billion in 2023

The government is committed in granting coffee farmers’ access to the promised KSh80 per kilogram of cherry, given the allocation provided in the budget through the CARFs established by government to be paid to coffee farmers as advance against coffee they had already delivered to their cooperatives.

The advance is meant to assist coffee farmers meet their financial needs as they wait for sale and payment of their coffee.

The amount so advanced would then be recovered from the sale of coffee to replenish the fund in readiness for the next production cycle.

Cabinet had approved an additional KSh4 billion to CARF with a view of increasing the rate of advance from KSh20 per kg to KSh80 per kg of cherry in two installments and based on coffee quality.

By Obegi Malack

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!

 

Sharing is caring!

Leave a Reply

Not Allowed