Firm gets Sh1.2b for lending to farmers

Social enterprise firm Sistema.bio has secured Sh1.2 billion from impact investors for cheap lending to farmers.

Targeting over 100,000 farmers with biodigester technology, the funding was mobilised through a number of international investors.

Sistema.bio co-founder and chief executive Alex Eaton, said the funding comes when the company aims to bring clean-energy and sustainable agricultural practices to over one million farmers in the long term.

“With the concerns of rising fuel costs, customers are looking to green energy,” he said, adding that awareness by farmers on the effects of global warming has driven an upsurge in demand for the company’s technology.

Commercial director Cedrick Todwell said the company has improved the livelihoods of thousands of farmers in a number of counties since its launch.