Loan approvals by Rabobank Foundation and Zero-Kap
Rabobank Foundation has approved a new loan of € 348.000 for Agrics Kenya. The loan consists of € 300.000 working capital financing for the 2017 season, and € 48.000 loan for investment in the poultry business of Agrics. In 2017, Agrics Kenya aims to supply more than 28.000 farmers in Kenya with high quality agricultural inputs on credit. With the working capital loan Agrics will be able to finance part of this loan portfolio. With the € 48.000 investment in the poultry business, Agrics will be able to invest in its poultry center. This will improve the feed production facilities, and scale up the production capacity of the center. In 2017, Agrics aims to supply around 80.000 4 week old chicks to smallholder farmers in Western Kenya.
Zero-Kap, a named fund by FEMI, provides a free of interest loan to Agrics Tanzania. Agrics provides smallholder farmers with farm inputs on credit to improve harvests. The main purpose of the loan is to grow the number of smallholders served by Agrics Tanzania in 2016/2017 with an additional 1,000 farmers.
A big thank you to Rabobank Foundation, Zero-Kap and our other investors!