Juhudi Kilimo – a Kenyan investment company – has committed to provide 100,000 Kenyan farmers with access to finance and micro loans to help them get the capital they need to grow their business. More than 60 percent of Kenya’s smallholder farmers live on less than US$2 a day and have limited opportunities to expand their business.
By working with farmer associations and co-operatives throughout Kenya, Juhudi Kilimo educates farmers about loan governance and the risks and benefits of taking out loans before offering farmers the chance to apply for credit. Loans are given to farmers intending to purchase “productive” assets such as dairy cows, chickens, and irrigation equipment that contribute to income-generation.
As of August 2011, Juhudi Kilimo has provided asset financing to over 8,000 smallholder farmers.