Agricultural Finance Corporation Will Not Waive Farmers’ Loans

Speaking during a farmers’ training session at the Agricultural Training College in Kitui town yesterday,the Agricultural Finance Corporation Board Chairman, Franklin Bett said the corporation will not waive loans advanced to farmers and warned defaulters to brace themselves for stiffer penalties.

He said the move followed a deliberation between the financial services institution and the national government to stop waiving loans to enable the corporation to recoup enough money to support other needy farmers.

“Let every farmer who has secured a loan from AFC be warned that there will be no waivers anymore. Anybody who wants financial support from us must be ready to pay back so that other Kenyans can benefit,” Bett said.

Bett reiterated the institution’s resolve to help boost the livelihoods of Kenyans by empowering them to be more productive, alleviate poverty and create more employment in the country.

Kitui Governor Charity Ngilu encouraged farmers in the county to apply for cheap loans from the Agricultural Finance Corporation {AFC}to boost farming activities and increase food production.

“I know, without an iota of doubt, that farmer of Kitui will kick poverty out of their lives, I am sure AFC will be part of this journey.” Governor Ngilu said.

Hailing the partnership with AFC, the Deputy Director UN Women Kenya Country Office, Karin Fueg said that the training of farmers will help address gaps in women financial inclusion through training and information sharing.

“I am convinced that with more women accessing credit to improve their agribusiness, they will have more income at their disposal,’ said Fueg.