New lease of life for KFA as debts cleared

By MICHAEL WESONGA

The once debt stricken Kenya Farmers Association (KFA) is slowly making a turnaround after its debts were straightened through a restructuring plan.

The improved cash flow has seen KFA restock with farm inputs and deliver its own fertilizer to some of its branches countrywide.

North Rift KFA Chairman, Kipkorir Menjo, who received a consignment of 450 bags of 50kgs DAP fertiliser at the Eldoret warehouse yesterday confirmed that they had already cleared Sh470 million debt owed to National Bank of Kenya (NBK).

“This is the first consignment of locally sourced fertiliser we are receiving and it will be sold to farmers at the prevailing market price of Sh3,650 per bag,” he said.

He said under the association’s debt management plan, it plans to clear its remaining debt at National Bank of Kenya besides repaying outstanding debt with Barclays Bank before end of the month now the association’s cash position has dramatically improved.

“Arrangements are also underway through a mutual agreement with the Municipal council to offset Sh11 million owed to them in unpaid rates,” he explained.

He said the association is already regaining its former glory, as the farmers’ agent strives to deliver affordable farm inputs.