Kenya's agricultural sector, a cornerstone of the nation's economy and livelihood for millions, faces a critical hurdle: insufficient financing.

Despite contributing approximately 33 per cent of the Gross Domestic Product (GDP), only 3.2 per cent of Kenyans utilize formal borrowing for agriculture, according to the 2019 Financial Access Household Survey.

Recognizing this challenge, the Ministry of Agriculture and Rootooba are stepping forward with the Financing Agriculture Sustainably Conference (FINAS2024), scheduled for March 27th and 28th, 2024.

This two-day event aims to bring together key players in the agricultural sector to identify and discuss sustainable financing solutions.

Unpacking the Problem, Emphasizing Collaboration

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Mary Mwiti, CEO of the Council of Governors, emphasized the importance of counties collaborating to empower farmers.

"With agriculture being the backbone of Kenya's prosperity, while it is the means of livelihood for millions of Kenyans, this sector is grappling with insufficient financing," Mwiti stated.

"Counties are pivotal to collaboration and unpacking of solutions to establish credit and financing policies to empower farmers," she emphasizes, highlighting the crucial role of collaboration between national and local levels.

Transforming Land, Transforming Economy

Paul Rono, PS of the State Department of Agriculture, underscores the immense potential of Kenya's agricultural land.

"We need to see how to invest and transform Kenya's large and fertile land into a thriving agricultural ecosystem running efficiently and profitably to benefit not only farmers but also our economy as a whole," he stated.

"This conference will be the right place to do just that," he adds, showcasing the conference's potential as a catalyst for change.

Bringing Stakeholders Together, Cultivating Solutions

Kawira Mutegi, Conference Director, said that the Financing Agriculture Sustainably Conference (FINAS 2024) will bring together actors in the agricultural sector to deliberate on financing the sector through appropriate models.

"The Financing Agriculture Sustainably Conference (FINAS 2024) will bring together actors in the agricultural sector to deliberate on financing the sector through appropriate models," Mutegi explained.

This gathering aims to facilitate meaningful dialogue and collaboration between diverse stakeholders, including farmers, financial institutions, agribusiness players, and government officials.

With the support of key players like GIZ, FSD-Kenya, and AGRA, all dedicated to the development of the agricultural sector, FINAS2024 promises to be a significant event.

This conference presents a unique opportunity to address the financing gap and unlock the full potential of Kenya's agricultural sector, paving the way for a more sustainable and prosperous future for both farmers and the nation as a whole.

The fertile land, dedicated individuals, and a commitment to innovative solutions create a fertile ground for change. FINAS2024 aims to be the seed that nourishes this growth, cultivating a future where Kenya's agricultural powerhouse thrives.