Financial Inclusion for smallholder farmers

KCB Group and The MasterCard Foundation have entered into a US$30 million (Kshs.3 billion) partnership to promote financial inclusion for at least two million smallholder farmers in Kenya and Rwanda. In addition, KCB Group will extend at least US$200 million (Kshs.20 billion) to farmers in the two countries in affordable loans over the next five years.

KCB Group and The MasterCard Foundation Announce Agricultural Finance Program to Benefit Two Million Farmers

The partners have each set aside US$15 million for a total of US$30 million (Kshs.3 billion). The program will provide critical funding for smallholder farmers and pastoralists in the largely unbanked agricultural sector in the two countries.

KCB Group said in addition to its US$15 million (Ksh1.5 billion), it will spend $200 million (Kshs.20 billion) in credit to farmers under the program dubbed KCB MobiGro, highlighting its commitment towards supporting the agriculture sector in the region.

The program aims to reach farmers, 60 percent of whom are women, in the dairy, livestock and food sub-sectors in the two countries.

Partners

  • MasterCard Foundation

    Foundation
    United States | Staff size: 51-100

    The MasterCard Foundation is an independent foundation based in Toronto, Canada with $10 billion in assets. Their vision is to create the opportunity for all to learn and prosper. They promote...

  • KCB Bank Group

    Investment & Finance, Service Providers
    Staff size: 5001-10,000

    KCB Bank Group is East Africa’s largest commercial Bank that was established in 1896 in Kenya. Over the years, the Bank has grown and spread its wings into Tanzania, South Sudan, Uganda,...

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Key Information

LocationKenya, Rwanda
StatusActive
ValueUSD 30 Million
Sectors