The County government of Trans Nzoia has entered into a partnership with a farmer financing firm, Apollo Agriculture, which will see farmers having between 0.5- 3 Acres enjoy affordable credit to finance their farming needs this season.
With the facility being provided by Apollo Agriculture, farmers will only be required to pay 10% of the deposit with the balance being paid on a Lipa pole pole basis till the end of the season.
The county’s agriculture executive committee member Mary Nzomo led the region’s Agriculture Sector Steering Committee to sign the pact with Apollo’s co-founder Benjamin Njenga in an event held in Kitale.
“We welcome this public-private partnership & encourage farmers to take advantage of this soft loan facility to increase productivity & profitability of maize farming hence raise their levels of income,” said Mrs. Nzomo.
Mr. Njenga said the goal of the initiative is to ensure that every farmer has an opportunity to farm profitably by having access to the right farm inputs in the right quantity and at the right time.
“There are more than 500 million small-scale farmers globally, and average farm yields per acre across Africa are only 10-20% of those in North America. We seek to change that by partnering with farmers,” he said.
The pact comes in handy for most farmers in the region who have been hard hit by the economic impact of the Covid 19 pandemic which has negatively affected the Agriculture sector through slowed business.
Apollo uses machine learning and automated operations technology to help small scale farmers access everything they need to maximize their profitability from financing, insurance, to farming products and optimized advice.
Data by the firm indicates that 5000 farmers have already been financed this year with about 6084 acres under production in Trans Nzoia.
The firm has also employed 155 youths and partnered with 34 agro-dealers in the county.