KTN Prime: President Uhuru Kenyatta writes off 2 Billion debt on Coffee farmers, 29/11/16

Business | Tuesday 29 Nov 2016 10:08 pm

Good news for coffee farmers as president Uhuru Kenyatta has written off 2 billion shillings of coffee debts in a bid to boost the sector that has been characterised by poor pay. The writing off of the debts comes after farmers petitioned Uhuru to ensure all the debts are settled, terming them a huge setbacks to better returns. In july, treasury cs henry rotich said the government set aside 700 million shillings to scrap off the debts which will free farmers who have been losing money every season repaying the loans. The national debt write-off programme was launched by president Uhuru Kenyatta, then finance minister, in December 2011.the treasury released 797 million shillings to eight financial institutions and unions, which loaned the money t