BDEquitel2007jh
Airtel Africa CEO Christian de Faria (right) and Equity Group Holdings CEO James Mwangi during the official launch of the thin-SIM technology || Photo source businessdailyafrica.com

Regional financial services provider Equity Group is bullish on the agricultural sector, the backbone of the Kenyan economy.

Equity Group Chief Executive Officer Dr. James Mwangi said that the good rains experienced in most parts of the country will result in increased productivity in various counties where the bulk of the bankโ€™s customers are located.

โ€œAgriculture is the backbone of the economy and we at Equity are a rurally-oriented bank,โ€ said Dr. Mwangi.

Dr. Mwangi noted that Equity, through its mobile platform Equitel, will be used to accelerate loan uptake in the agricultural sector, the biggest employer in the Kenyan economy.

Equitel allows farmers to access credit instantly which makes it possible to buy seeds, fertilizers and other inputs on a timely basis. Equitel additionally reduces transport costs as farmers do not have to travel branches and ATMs to access credit.

The bank has adopted a value chain financing approach-targeting farmers, agro dealersโ€™ aggregators, processors, marketers etc. and these are other potential users for Equitel.

www.farmerstrend.co.ke is the AWARD WINNING BEST AGRICULTURAL BLOG IN KENYA 2016. We invite all stakeholders in the agricultural value chain to work with us. Businesses can advertise their agricultural products on our blog. Write to us 'info@farmerstrend.co.ke'
www.farmerstrend.co.ke is the AWARD WINNING BEST AGRICULTURAL BLOG IN KENYA 2016.
We invite all stakeholders in the agricultural value chain to work with us. Businesses can advertise their agricultural products on our blog. Write to us ‘[email protected]

 

How useful was this post?

Click on a star to rate it!

Average rating / 5. Vote count:

No votes so far! Be the first to rate this post.

As you found this post useful...

Follow us on social media!

READ ALSO:   Repositioning agriculture as the basic foundation of Kenyaโ€™s economy