Kenyan farmers advised against borrowing

The Chairperson, Privatisation Steering Committee, Patricia Adala (left), and CEO of the Privatisation Commission Solomon Kitungu during a recent stakeholders’ engagement meeting held at Chemelil Sugar Company. They want farmers to stop taking loans. [PHOTO: HEZRON OCHIEL/STANDARD]

KENYA: The Privatisation Commission has cautioned sugarcane farmers against borrowing money from financial institutions to buy stakes in the sugar companies.

The commission argued that borrowing will burden farmers with huge loans and subsequent interest, thus affecting their welfare, and asked them to seek alternative ways of raising funds.