Absa Bank targets farmers in drive to grow market share
Absa Bank Kenya Plc is fast tracking an intensive training programme targeting small-scale farmers in maize, dairy and horticulture sub-sectors, as part of ongoing efforts to expand its share of the local market.
Absa has rolled out a comprehensive programme linking farmers to the both local and international markets.
The gesture by Absa bank is expected to deepen competition in the agriculture sector where other banks, such as Equity, Co-operative and Family banks and credit unions are already controlling a substantial market share.
The bank’s country agriculture business specialist Daniel Munyambu (pictured) said the new focus is targeted at training farmers on strategies to reduce post-harvesting losses, financial literacy and on good agriculture practices.
“We do not have a limit of the amount of money we are going to extend to the farmers as our focus is to deepen our intention in the agriculture sector,” he said.
The financial institution, he added has partnered with other players, for example, Perfometer Agribusiness (PA), an agribusiness consulting company. The latter supports dairy investors to start and run profitable dairy enterprises by providing professional advice and consultancy services.
“As a bank our new focus is not only providing financial needs but equally offering farmers solutions to other challenges they are grappling with, for instance, how to reduce post-harvest losses” said Munyambu during a training of dairy farmers at Meved dairy company a private entity in Murang’a County.
He said the programme in the dairy industry will be implemented into various phases in various counties with the first segment targeting dairies in Kiambu, Murang’a and Kirinyaga counties respectively.
In the second phase the bank Munyambu confirmed will expand the programme to cover several other dairy processors and dairy co-operative societies in other counties.
Subsequent similar training sessions will be conducted in the cereals mainly maize and pulses in Western region of the county. Sila Maosa, Project manager with Perfometer Agribusiness, confirmed that his company has been contracted to train 500 dairy farmers in different places in the country.
“The training is geared towards making the dairy industry viable by instructing farmers how to address bottlenecks they are facing today,” he added.
The training is further focusing on feeding programmes, structures set up to prevent cows from injuries and harsh climatic conditions and good agricultural practices. The farmers he said once trained can also train their fellow farmers.