Fairtrade Africa funds Kenyan farmers Sh70.5 million

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Fairtrade Africa has funded Kenyan farmers with Sh70.5 million as support during these tough times of Covid-19 times.

The funds will be directed to safety and livelihood programs and are divided into the “Fairtrade Africa Producer Relief Fund” and the Fairtrade Africa Producer and Resilience Fund.

The funds will be used in wage payment, awareness of safety campaigns, purchase of masks and medical equipment, food security initiatives, and business continuity costs.

“Fairtrade Africa would like to inform all Fairtrade certified producers that Sh70.5 million has been disbursed to support vulnerable producers and workers in the region at this time,” he Africa Fairtrade said in a statement.

“The Resilience Fund is established to meet the longer-term needs of producers as they begin to look COVID-19 such as business restoration, technology-based capacity building, addressing human right chains through programmatic interventions, support for strengthening finances to tackle future risks and advocacy.”

The boost has come at a time when the horticulture industry is struggling to cope with a drop in overseas orders following the cancellation of flights and strict travel restrictions.

The horticulture has seen a fall of seven percent in 2019 to Sh142.72 billion from Sh154.7 billion.

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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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