Kenya urged to facilitate private sector involvement in agricultural finance
The government has been asked to fully involve the private sector in the mobilisation of resources in the agriculture sector to attain the recommended 10 per cent budgetary threshold.
International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) says that Kenya and the majority of African countries are still far from achieving the Comprehensive Africa Agriculture Development Programme (CAADP) goal of investing 10 per cent of their total budgets in agriculture.
Jacqueline Hughes ICRISAT Director General opines that African governments need to tap more resources from the private sector to close the deficit in the agriculture sector.
“Public-private partnerships are the way forward. The private sector can bring in the finances and technical skills with the government providing the sovereign guarantee to bear the risks involved,” she said
Maputo declaration
African governments 19 years ago adopted the 2003 Maputo Declaration on Agriculture and Food Security that advocated the allocation of 10 per cent of the national budget to agriculture development.
Speaking during ICRISAT 50th Anniversary celebrations at a Nairobi hotel, Hughes said overseas development aid to agriculture has been declining for years now coupled with the emergence of other crises disrupting world affairs management.
Principal Secretary, State Department for development of the ASALs, Micah Powon (pictured) who was the chief guest stated that the government has been collaborating with ICRISAT in technology development, research and also linking farmers to market and value addition.