Agriculture is the backbone of Kenya’s economy. Kenya’s agricultural sector employs more than 75 percent of the workforce and accounts both directly and indirectly for approximately 51 percent of Kenya’s gross domestic product (GDP). With most of the country’s land mass being arid or semi-arid, only about 20 per cent is arable. About 80 per cent of Kenya’s Work force engages in agriculture or food processing. Farming in Kenya is typically carried out by small producers.
Youth unemployment was declared a national disaster in 2013, with over 70% of the youth population remaining unemployed. Research shows that there are about 800,000 young people being released into the job market annually with only a fraction getting jobs. The question on most people’s minds is what happens to the unemployed youth? What opportunities are available for the youth in the Agricultural sector? That’s what the discussion on Chase Debate sought to answer. We had businesses that focus on Agriculture such as; Top Farm, Farm Biz Africa engage with us and show us what is already being done, as well as youth such as @CalebKaruga and @MkulimaYoung who have already invested in agriculture. From dairy farming, greenhouse farming, poultry breeding, vegetable farming on open farms and so on.
Agriculture is an investment that requires you put in time, effort – and honing your research skills even before putting some money into it, where you must investigate before you invest. This will help you to decide what part of the agriculture value chain you want to invest in, because as with every investment, there’s either a risk or a reward. Throughout the debate, some of the biggest challenges that were presented by most of the people that interacted with us was; lack of space/land, lack of proper exposure and training on farming, insufficient capital and little or no access to financing.
Chase Agri, working in collaboration with the subsidiary and associate companies of Chase Bank, offers financial solutions that are drawn from a deep understanding of the agricultural sector, as well as the diverse and unique needs of our clients who include small, medium and large scale players within the various agribusiness value chains;
We have also partnered with Amiran on a lending program that has been designed to enable agribusiness clients active at the production stage of the horticultural (fruits and vegetables) and floricultural (flowers) value chains to acquire, based on their production needs and financial capacity, an Amiran Farmer Kit of their choice.
Today’s Chase Product
Kilimo Baraka Account
A Current account tailored to offer affordable and convenient banking services for the agribusiness clients
Ghala Savings Account
A Savings account designed to promote a savings culture in the agribusiness sector
Chase Bank offers a Foreign Currency Account that is ideal for agribusiness clients transacting in US Dollar, Sterling Pound, Euro, South African Rand, Australian Dollar and Swiss Franc.
Asset Finance – Vehicles & Equipment
Financing to facilitate the acquisition of vehicles such as combine harvesters, tractors, pick-ups, trucks, Canters, tankers ,etc
Used vehicles (max. age –7 years )
Financing to facilitate the acquisition of agricultural equipment such as ploughs, balers, processing machines, milk chillers e.t.c.
Used Equipment (max. age – 5 years )
Leasing – You can buy at today’s prices with tomorrow’s income
Working Capital Finance – Bridging the gap for you between the receipt of your payments
Warehouse Receipt Finance
Chase Agri Insurance
Chase Agri insurance covers are available in all Chase Bank branches providing, fast, reliable and affordable insurance solutions to farmers. Our products;
To follow the conversation on July’s #ChaseDebate, see below: