Agricultural Finance Corporation Claimed
Agricultural Finance Corporation – The Leading Government Credit Institution in Kenya Mandated to Provide Credit for the Purpose of Agricultural Development.
The Agricultural Finance Corporation (AFC) is a Development Finance Institution (DFI) wholly owned by the Government of Kenya. AFC was formed in 1963, initially as a subsidiary of the then Land and Agricultural Bank. It was incorporated as a full-fledged financial institution in 1969 under the AFC Act (Cap 323 of the Laws of Kenya) and entrusted with the mandate of assisting in the development of agriculture and agricultural industries by making loans, and providing managerial and technical assistance to the loan beneficiaries.
Today we remain the leading Government Credit institution mandated to provide credit for the sole purpose of developing agriculture. This role is crucial given that Agriculture is the mainstay of the Kenyan economy where 80% of the Kenyan population which is rural based relies on agriculture as their main support system.
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