Chase Bank Kenya, Chase Agri, Chase Debate, Agriculture, Entrepreneurship, Invest in Kenya

Business, Chase Agri, Chase Debate, ChasePreneur, Invest In Kenya, SME Banking

Chase Debate: Opportunities for the Youth in Agriculture

30 Jul , 2014  

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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 are a one stop shop for all your financial needs – accounts, loans, investments, trade finance, Forex and Insurance products & services,
  • We focus on developing strong relationships with clients to get a real understanding of their business financial needs,
  • Our financial solutions are drawn from a deep understanding of the agribusiness industry,
  • We have dedicated Relationship Managers whose specialty and focus is purely agribusiness financial services,
  • Our product pricing and loan structuring is competitive and tailored to the agricultural sector.

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

  • You pay as you transact
  • No monthly ledger fees
  • Local and international fund transfer services
  • Internet, debit card and mobile banking services
  • Cheque Book
  • No minimum operating balance

Ghala Savings Account

A Savings account designed to promote a savings culture in the agribusiness sector

  • No monthly ledger fees
  • Interest earned payable quarterly
  • KES 2,000 minimum balance (to earn an interest)
  • Tiered Interest Rates depending on amount deposited

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.

  • Access to 24hour Internet Banking
  • Foreign Currency Prepaid card available
  • Allocated Foreign exchange Dealer to advice on Capital Markets movements
  • Flat fee on Incoming Funds and Telegraphic Transfers
  • Advisory services available on Placement of Surplus Funds
  • Free advisory services on Off-shore Investments
  • Competitive and negotiable pricing
  • Notification on inward receipt of funds

Asset Finance - Vehicles & Equipment

Financing to facilitate the acquisition of  vehicles such as combine harvesters, tractors, pick-ups, trucks, Canters, tankers ,etc

New vehicles

    • Up to 90% Financing
    • Maximum repayment period of up to 48 months

Used vehicles (max.  age -7 years )

    • Up to 80% financing
    • Maximum repayment period of up to 48 months

Financing to facilitate the acquisition of  agricultural equipment such as ploughs, balers, processing machines, milk chillers e.t.c.

Equipment

    • Min.  Borrower’s contribution 10%
    • Maximum repayment period of up to 48 months

Used Equipment  (max.  age - 5 years )

    • Min. Borrower’s contribution of 30%
    • Maximum repayment period of up 36 months

Leasing - You can buy at today’s prices with tomorrow’s income

  • No Down Payments! Lease 100% ; We will finance 100% of the cost of the equipment.
  • Plus, you can include costs in your lease such as shipping, software, training, and installation

Working Capital Finance - Bridging  the  gap for you between the receipt of your payments

Overdrafts

    • Up to a period of 12 months renewable annually
    • Limit based on business turnovers

Warehouse Receipt Finance

    • Financing of up to 65% of the value of the non-perishable commodity stored at a warehouse that has been certified  by the East African Grain Council
    • EAGC Warehouse Receipt accepted as  the security

Invoice Discounting

    • Flexible repayment terms of up to 120 days
    • Available in foreign and local currency

LPO Discounting

    • Up to 80% of the LPO amount less VAT, issued by a reputable organization/company

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;

  • Crop insurance – Cereals wheat, barley, maize, Coffee, Tree crop, Tobacco, horticultural crops, Flower crop. Risk covered; Excessive rainfall, hail damage, frost damage, fire, windstorm, drought and uncontrollable pests and diseases.
  • Greenhouse & Irrigation equipment.  Risk covered; Fire, lightning, impact damage, burglary, natural perils.
  • Livestock insurance. Risk covered; Accidental death due to natural perils ,internal & external injury on location or in transit, snake bites, diseases of terminal nature, emergency slaughter on a vets advice, calving complications, theft of livestock, epidemics.

To follow the conversation on July’s #ChaseDebate, see below:


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Always sharing stupendous tidbits. Lifestyle blogger. Sucker for content that builds. Aiming to inspire, impact or influence someone.



3 Responses

  1. […] who are aiming at such kind of ventures would easily get financial guidance through the Chase Agri package and this would not only lead to potential customers in the long run but also long term […]

  2. […] who are aiming at such kind of ventures would easily get financial guidance through the Chase Agri package and this would not only lead to potential customers in the long run but also long term […]

  3. […] same applies to the youth of today. As we had mentioned earlier, the young people of today are the leaders of tomorrow and it’s for this reason they are critical […]

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