Beth Dunford, AfDB Vice President for Agriculture, Human and Social Development
Small-scale farmers across Africa are set to benefit from a Ksh 65 billion facility by the African Development Bank (AfDB), aimed at de-risking agriculture and enhancing access to credit.
Beth Dunford, AfDB’s Vice President for Agriculture, Human and Social Development, announced that the facility will provide technical assistance and blended financial services to smallholder farmers to boost food production and reduce costs.
Africa faces an estimated Ksh 9.6 trillion agricultural funding gap, primarily due to limited credit access for small-scale farmers. Sector players emphasize the need to reform agricultural financing to help farmers increase yields and improve productivity.
The AfDB is collaborating with other financial sector players to establish the fund, which will not only facilitate access to credit but also serve as a guarantor for farmers purchasing farm inputs on credit. The initiative is expected to drive agricultural growth, enhance food security, and strengthen the continent’s food supply chain.
President William Ruto has commended AfDB for its role in strengthening Kenya’s food security, accelerating universal electricity access, and deepening regional integration.
Speaking at the Chief of the Order of the Golden Heart award ceremony for outgoing AfDB President Akinwumi Adesina at State house, Ruto acknowledged the bank’s critical interventions in Kenya’s development and emphasized the importance of continued collaboration in economic transformation.