Hard truths. Bold Insights. Real talk.
The stakeholders on Saturday in Machakos County presented their views before the National Assembly’s Departmental Committee on Agriculture and Livestock, chaired by Tigania West MP John Mutunga, as lawmakers scrutinise the proposed legislation.
The decision follows a detailed review of reports by the Auditor General, which pointed to widespread breaches of fiduciary duty and long-standing malpractice spanning about 14 years. MPs said the findings raised serious questions about how loans were being approved and disbursed at the corporation.
Speaking during the 8th World Congress on Rural and Agricultural Financing, hosted by the African Rural and Agricultural Credit Association (AFRACA) in Mombasa, Kagwe said that Kenya’s agriculture sector, which directly and indirectly contributes nearly 50% of the country’s GDP, requires financial solutions aligned with its seasonal cycles and long-term capital needs.
He challenged banks to craft financing models that respond to the realities of agriculture, including seasonal production cycles and smallholder constraints.