Good news for coffee farmers as President Kenyatta announces measures to boost sub-sector
- PSCU 27th Mar 2019 00:00:00 GMT +0300
President Uhuru Kenyatta has moved to deal with delays in payment of coffee farmers.
The President yesterday said starting July coffee farmers would have access to Sh3 billion cherry advance revolving fund.
Uhuru also announced the planned rehabilitation of 500 pulping factories in 31 coffee growing counties.
“All coffee farmers across the country will access the cherry advance at a modest interest rate of three per cent,” said the President when he opened the 124th session of the International Coffee Council at the Kenyatta International Convention Centre (KICC).
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This is among measures the Head of State believes will boost the coffee sub-sector.
The President said under a new regulatory framework, the coffee sector would be liberalised to usher in a new era of direct marketing by co-operative societies.
Other interventions announced by the President include a requirement for all coffee co-operatives to present annual audit reports to the Agriculture Cabinet Secretary within six months of every calendar year, with a simultaneous release to the entire membership of the respective society and the public.
“The inaugural audits under the forthcoming enhanced regulatory framework will cover the calendar year 2019, and shall be submitted by all co-operatives on or before December 31, 2019,” Uhuru said.
The President said the new interventions were in line with the aspirations of members of co-operative societies and were aimed at having well managed, financially stable and efficient saccos.
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“To protect the sweat of the brow of coffee farmers, my administration has embarked on a programme to entrench the principles of good corporate governance within the internal management of co-operatives,” he said.
Uhuru said the reforms were designed to boost production.
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President Uhuru Kenyattacoffee farmers