Kenyan smallholder farmers are set to benefit from the Fertiliser Credit Guarantee Financing provided by the Africa Fertiliser Financing Mechanism project.
This initiative aims to deliver nearly 8,000 tons of fertiliser to 100,000 smallholder farmers, thereby boosting production and increasing incomes.
Through its Fertiliser Financing for Sustainable Agriculture Management Project, the Mechanism will offer a $2 million (Sh268 million) partial trade credit guarantee and a grant of $219,000 (Sh29 million) to Apollo Agriculture Limited. This support will facilitate the company’s sales of fertiliser.
The project has received backing from the Norwegian Agency for Development Cooperation, which contributed $10.15 million (Sh1.4 billion) to the Mechanism. This support is crucial in addressing the challenges faced by Kenyan smallholder farmers, who often lack the collateral needed to secure financing for purchasing fertiliser.
