The County Government of Busia has today announced a strategic partnership with Equity Bank aimed at empowering smallholder farmers and other agribusiness stakeholders with the aim of enhancing food security. The collaboration seeks to improve agricultural productivity through innovative financing solutions, training programs, and sustainable farming practices, ensuring that farmers have the resources and knowledge to thrive in a dynamic agricultural sector.
The initiative comes at a time when the agricultural sector is facing significant challenges, including climate change, limited access to financing, and fluctuating market prices. The County Government of Busia in partnership with Equity Bank, is committed to addressing these challenges by supporting value chain actors including smallholder farmers, who form the backbone of the county’s economy and food supply chain.
The Governor of Busia County, H.E. Dr. Paul Otuoma, praised the partnership, noting, “This collaboration with Equity Bank aligns with our county’s flagship initiative, the Ward-Based Agriculture Sector Driven Rural Economic Revitalization Programme (WASRERP) which aims to provide critical financial support, enhance agricultural productivity and improve livelihoods to farming households across the county. With the bank’s financial and technical support, we are confident that we will empower our farmers with the resources and knowledge needed to boost agricultural productivity such as accessing the farm inputs in good time, ensuring they are well-prepared for the planting season and ultimately accessing better markets which will revitalize Busia’s rural economy and contribute significantly to food security.”
The governor also noted that he will put in place structures that will promote value addition to minimize post-harvest losses. He called on farmers across the county to seize this golden opportunity by engaging with the program and adopting the recommended climate smart farming practices in horticulture, cotton and fish farming. The governor also urged residents to contact their respective Ward Agriculture Officers for guidance on how to benefit from this initiative.
During the meeting, Acting Managing Director of Equity Bank Kenya, Moses Nyabanda, emphasized, “At Equity, we acknowledge the vital role the agriculture sector plays in ensuring food security and fostering economic growth in Kenya. Our partnership with the County Government of Busia is part of our broader strategy to uplift rural communities through financial inclusion and access to affordable credit. We are proud to provide solutions that will enable farmers to expand their operations, invest in modern farming techniques which are climate smart and increase their productivity.”
The partnership is a natural fit to Equity Groups’ business model, whose vision is to champion socio-economic prosperity of the people of Africa, by availing inclusive financial services that transform livelihoods, give dignity, and expand opportunities for wealth creation. In the Group’s strategic plan dubbed “Africa Recovery and Resilience Plan”, Equity aims to grow the Food & Agriculture portfolio to contribute 30% of Equity Group’s Balance sheet, underpinning the Group’s commitment to contributing to food security and agriculture commercialization in Busia County and across the regions where Equity Bank operates.
The key pillars of this partnership include:
- Financing farmers and agribusiness value chain actors: The county will benefit from Equity Bank’s extensive experience in lending to the Food & Agriculture Sector.
- Competitive Loan Rates: Borrowers in Busia County will access loans at competitive interest rates, making credit more accessible. For a start the bank will have a dedicated portfolio of up to KES 1B to spur agriculture revitalization in the county.
- Targeted Support: The program aims to reach 148,000 smallholder farmers and other value chain actors across all 35 wards in the 7 sub-counties of Busia County.