About 330 small scale farmers from Busia County have benefitted from Sh4 million Agricultural Development Fund to help boost their livestock, agriculture, fisheries and agri-business.
Busia Governor Sospeter Ojaamong presided over the issuance of cheques to the beneficiaries drawn from all the wards across the county, at Elwanikha Primary School in Bukhayo East Ward on Thursday.
The Governor said the revolving fund that was introduced in 2015 to carter for rural farmers who cannot afford bank loans due to high interest rates and lack of collateral security.
“A total of 1150 farmers have benefitted from the fund since 2015 to the tune of Sh45million. We intend to build it to at least Sh1b and register all small scale farmers who qualify to get the fund,” he said.
The Governor said the World Bank is ready to fund such projects as long as the recipients show seriousness that the fund revolves and recovery is good; he urged beneficiaries to repay the funds to enable others also to benefit.
County Executive Committee Member for Agriculture Dr. Moses Osia said Busia is the only county out of 47 that is operating ADF courtesy of Governor Ojaamong.
The first beneficiary of the fund in 2016, Kennedy Mugata said he used it to embark on Kuroiler Poultry farming which has improved his economic status.
ADF Board chair George Ekisa and Fund Administrator Benjamin Onyancha said the fund is experiencing some challenges since some farmers are unable to repay back promptly.