Banks and other financial institutions in
Ruto says if the issue is not addressed, the continent may not be able to transform and grow the sector into full agri-business.
"You know farming does not exist in isolation. How do we as governments' make sure financing to agriculture does not become an impediment to unlocking our potential?" Ruto posed.
He was speaking on Tuesday during a forum on revolutionising finance for agri-value chain which brought together over 1000 agriculture and financial stakeholders from
The issue of lack of access to credit by small scale farmers has been blamed on high risks involved in lending by the financial institutions.
But Ruto says it was time to come up with attractive products that will ensure these farmers can get affordable loans to be able to venture into serious agriculture.
He called on the banks especially in
"Matters of interest rates is a subject that informs access to credit by entrepreneurs, by industrialists and by farmers," Ruto said.
The Kenyan government targets to export over five million tonnes of grain in the next five years which Ruto says cannot be achieved if serious financing is not put toward farming just like any other investments.
"I will give you an example. Today in
On his part Agriculture Cabinet Secretary
Most Popular Stories
- New Hershey's Logo Revealed
- Americans Still Pessimistic Despite Economic Growth
- Obama's Delay on Immigration Creates Uncertainty
- Mexico's Pemex Forecasts 6.7% Drop in 2014 Crude Production
- Startups Offer Smartphone Banking Apps
- Echeveste Steps Down, Perez Steps Up at VPE
- Clippers Deal Started With 2 Numbers
- 'Longmire' Cancelled, Looks for New Network
- Hip-Hop Takes Up Ferguson Cause
- Illinois Issues Fracking Rules