Government mulls Sh3 billion kitty for coffee farmers
SEE ALSO :The curse of handshakeSpeaking at the opening of a one-week forum in Nairobi bringing together coffee farmers and experts around the globe, President Kenyatta reiterated his commitment to reviving the sector through a raft of far-reaching measures. “These reforms are farmer-centric and have been designed to boost production, reduce the cost of processing, transaction costs, among others,” noted the President, adding Kenya’s coffee’s future cannot be bright if key participants in the industry do not receive their dues. Previous interventions “Coffee provides livelihoods to millions of persons in coffee growing and exporting countries,” he noted. The Head of State noted that the Sh3 billion Cherry advance revolving fund will be in addition to the enhancement of previous interventions including the rehabilitation of factories and provision of inputs, as well as extension services.“Consequently, all coffee farmers across the country will be able to access the fund at a modest interest rate of three per cent,” he said.
SEE ALSO :Uhuru to open Naivasha SGR stationThe president said the operationalisation of the commodities exchange will liberalise the coffee sector, ushering in an era of direct marketing by all stakeholders across the country. “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 cooperatives across the country,” he revealed. He said the intervention is in line with the aspiration that cooperatives are well managed, financially stable, efficient and can deliver on their mission of enhancing benefits accruing to individual members. Mr Kenyatta said Government through the State Department of Cooperatives is developing a legal framework to entrench annual audits into the daily operations of societies. This will ensure audited accounts are submitted to the Cabinet Secretary annually.
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