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2,500 farmers from Bungoma get funding boost from KCB Foundation

by: Category: Agriculture, Banking & Finance, East Africa, Economy & Politics, Energy, Featured, In Focus, Industry A+ / A-

More than 2,500 youths in Bungoma have received funding from the KCB Foundation to set up farming businesses.

KCB Foundation, the social investment arm of KCB Group issued cheques worth Ksh10.1Million to the 2,438 beneficiaries under the lender’s 2jiajiri job creation flagship project.

The program seeks to empower 10,000 youth every year to start small businesses that will employ at least 5 people each. This translates to 50,000 jobs for young people directly created through this programme by the end of the 5 years.

The funding, an interest free loan comes after the youths successfully completed training that is expected to enable them venture into Soya Beans farming. The youths will not need any collateral and no prior experience in the business is needed. However, everyone must undergo the training.

The agribusiness training by the KCB Foundation, in partnership with the Railway Training Institute (RTI) International has a broad goal of improving income and employment opportunities for the youth aged 18-35 years who have not completed secondary school education.

“We are catalyzing economic empowerment by skilling and funding the youths while linking them with market opportunities,” said KCB Foundation Executive Director Jane Mwangi.

KCB Foundation has already signed an agreement with edible oils maker Bidco to buy Soya beans from the young farmers hence assuring them on the market of their produce.

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