Cane farmers in Kakamega County could receive the much-needed boost after the County Government held talks with the Commodities Fund. The Commodities Fund is mandated to provide sustainable and affordable credit and advances to the agricultural sector.
The talks led by Governor Wycliffe Ambetsa Oparanya and Hon. Mwancha Okioma who is the Chairman of the Board of Trustees at Commodity Fund were held at the County headquarters in Kakamega.
The two parties agreed to come up with an agreement on how they will cooperate in financing sugarcane farmers in the wider Mumias region to the tune of between Kshs. 300 – 500 million. They agreed that Kakamega County will contract the Commodities Fund to manage the Sugarcane Fund which was budgeted for in the 2020/21 financial year. This will see the Commodities Fund send resident staff to the county. The County Government of Kakamega will organize a launch of the Fund while following the laid down COVID-19 regulations.
The Governor and the Fund chairman were also tasked to intervene on behalf of the former Mumias Out growers Company (MOCO) members to waive their debt amounting to Kshs. 200M to enable the out-growers resume cane farming.
An MOU between the County and the Fund is expected to be signed in the next two weeks