EU and AFDB in a deal to finance agribusinesses

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2,400 agribusiness in eight counties will be funded by the European Union (EU) and the African Development Bank (AFDB) through a sealed deal made to scale up operations.

The program which has been implemented by the Kenya Climate Innovation Centre will create 17,000 new jobs in the country.

The expected capital to be spent in this project is a total of Sh 5.1 billion.

Women and youth self-help groups are among the beneficiaries of this project. They will be chosen through an open competition that is set to run in the next 21 days.

Hamadi Boga, the Agriculture PS, urged women and youth groups to apply for the funds, pointing out that this new program purposes to attract the younger people into agricultural enterprises as a full-time job.

“There are many youth and women with excellent business ideas in Kenya, and we are happy that KCIC has found the way to bring technical and financial assistance to the. This is a vital injection of life for the Kenyan economy and food security,” added the EU ambassador, Simon Mordue.

The application is available on WWW.Kenyacic.org.

The project will also establish business incubation hubs in Kiambu, Machakos, Kilifi, Isiolo, Uasin Gishu, Kisii, Meru, and Bungoma.

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Anthony Kiratu is the Founder of Finsolutions. He is a financial analyst with over 5 years experience in research, investment advisory, valuation and financial modelling. Anthony is a member of the Institute of Certified Investment and Financial Analysts and Institute of Certified Public Accountants of Kenya. He is passionate about development of African Capital Markets through training of investors and dissemination of information for sound financial and investment decision making process. He is also a part-time lecturer in the Certified Investment and Financial Analyst course in the subjects of International Finance, Portfolio Management, Equity Investment Analysis, and Fixed Income Securities. Email: anthony@finsolutions.co.ke Contact: +254 780216631

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