NAIROBI, Kenya, Feb 19 – The Ministry of Agriculture and Rootooba are hosting FINAS2024, a financing sustainability conference, on March 27th and 28th, 2024.
The two-day event aims to address the low investment in Kenya’s agriculture sector despite its significant contribution to the gross domestic product (GDP).
The ministry said that with only 3.2 percent of Kenyans using formal borrowing for agriculture according to Financial Access Household Survey 2019, there’s a clear need for better financing mechanisms.
Mary Mwiti, CEO of the Council of Governors, emphasized the importance of counties collaborating to empower farmers.
“Agriculture is the backbone of Kenya’s prosperity, while it is the means of livelihood for millions of Kenyans, this sector is grappling with insufficient financing. Counties are pivotal to collaboration and unpacking of solutions to establish credit and financing policies to empower farmers.”
Paul Rono, PS of the State Department of Agriculture, stressed the potential of transforming Kenya’s land into a profitable agricultural ecosystem.
“We need to see how to invest and transform Kenya’s large and fertile land into a thriving agricultural ecosystem running efficiently and profitably to benefit not only farmers but also our economy as a whole. This conference will be the right place to do just that.”
Kawira Mutegi, Conference Director, said that the Financing Agriculture Sustainably Conference (FINAS 2024) will bring together actors in the agricultural sector to deliberate on financing the sector through appropriate models.
Key players supporting the conference include GIZ, FSD-Kenya, AGRA, and others, all dedicated to the transformation of Kenya’s agricultural sector.
