Farmers in the country will soon be able to easily access bank loans if a new bill proposed by Ministry of Agriculture is passed by the national assembly.
Speaking in Nakuru during a brainstorming session on the proposed warehouse receipts system bill, an official from ministry of agriculture, Joyce Mwaume said the bill, if enacted by parliament will ensure farmers not only become producers, but also participants in marketing of their own products.
“The draft will go a long way in creating more confidence in financial institutions to participate in the warehouse receipt system, and also encourage stakeholders to train farmers on grading and importance of warehousing,” said Mwaume.
She urged the government to put in place appropriate legal frame work so as to promote economic exchange across the eastern Africa n region and beyond.
In another development, the ministry of Agriculture, in partnership with the Eastern AfricabGrain council (EAGC) has called for concerted efforts from both the government and the private sector to ensure proper intervention put in place to benefit farmers countrywide.
Esther Muiruri, Equity bank officer in charge of agribusiness, said the bank is ready to finance any investor willing to open up business ventures in Nakuru and the Great Rift Valley region.
The EAGC, she added, was organizing trade platform that will bring buyers and sellers together to deliberate on products prices and productivity.
She hailed the introduction of the proposed WRS, adding that it will create flexibility in the sell process and at the same time enable millers procure grains directly from farmers, thus shortening the marketing chain and reduce transaction cost.
“WRS also enforces standardization, thus improving quality and grading in the entire value chain through reducing post-harvest losses through professional storage,” she added.