AFEX Fair Trade Limited (AFTL), a Nigerian agricultural enterprise, has established a presence in Kenya in an effort to protect farmers' livelihoods in the face of Kenya's cripplingly high cost of living.
AFEX Kenya's managing director Tabitha Njuguna told the media that the company is giving 5,000 Kenyan farmers Ksh117 million to help them capitalize on inputs and expand their operations.
The company aims to ensure the food security of the continent in an effort to build on the success in Nigeria. The business was been placed #1 in the Financial Times ranking of Africa's Fastest-Growing Companies - Agriculture & Commodities category 2022.
The technology that runs our business is among the best on the continent and is essential to our ability to offer inputs, consulting services, delivery of goods, and, most importantly, market access, all of which are essential to the future of agriculture in Africa.
Njuguna noted that farmers will have access to cutting-edge technology that would enable them to receive crucial logistical delivery, advice, and inputs.
One of the main obstacles to farmers expanding their businesses is access to financing, she said.
Within the next ten years, AFEX intends to grow into a number of African nations, including Tanzania, Ethiopia, Zambia, Benin, Togo, Ghana, and Côte d'Ivoire.
AFEX CEO Ayodeji Balogun reiterated her comments, noting that this is an opportunity to collaborate with Kenyan farmers and boost food production "He declared.
"We are thrilled to collaborate with Kenyan farmers to help them develop their operations in one of the most dynamic commodities marketplaces in the world."
"We are well aware that growing food production is useless without a reliable and effective warehousing infrastructure to support commodities trading, and that technology will be crucial to the future development of Africa's whole agricultural sector.
How to Apply
Isaac Kabura, the area sales manager for AFEX Kenya, stated in a media interview that farmers will devote 15% of their equity distribution to the initiative.
The corporation will purchase the same product at a higher price at the conclusion of the season after the farmers have had ten months to repay the debt.
"We intend to raise the program to Ksh588 million the next year. We currently work with farmers of maize, but we intend to expand to farmers of rice, beans, and other crops "He declared.
Kabura emphasized that the program aims to reduce the importation of agricultural products' excessive reliance on foreign markets.
Content created and supplied by: JohnNjenga1 (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More