Skip to content
Market News

KSH 450 Mn Allotted to Pilot Crop Insurance Scheme

BY Soko Directory Team · October 6, 2016 07:10 am

President Uhuru Kenyatta yesterday said the government has introduced a crop insurance scheme to cushion farmers from adverse weather conditions.

He disclosed the insurance scheme is being tested in Bungoma, Nakuru and Embu counties.

“A thousand farmers in these counties have already benefitted from the premium subsidy at a cost of Sh300 million,” said Uhuru, adding that his administration has also introduced livestock insurance, which is being piloted in Turkana, Wajir, Marsabit, Isiolo and Tana River at a cost of Sh152 million.

“The results of the two pilot schemes are encouraging. Ultimately, we intend to roll out these schemes to every county,” he said.

Older schemes Uhuru made the announcement when he officially opened this year’s Agricultural Society of Kenya Nairobi International Trade Fair at the Jamhuri Park Showground.

To ensure farmers have a regular water supply to increase food crops and livestock production, Uhuru said the government has brought more land under irrigation and revitalised older schemes.

“My Administration has, under the Expanded National Irrigation Programme, rehabilitated and expanded national irrigation schemes by 27,000 acres between 2013 and 2015,” he said.

uhuru-kenyatta-during-the-official-opening-of-the-nairobi-agriculture-trade-fair
Uhuru Kenyatta during the official opening of the Nairobi agriculture trade fair
“In just one of those schemes, at Mwea, we are set to double the area of land under irrigation,” he added.
Uhuru said the government has also taken a raft of other measures to ensure food security including lowering the cost of farm inputs.

Read: African Agricultural Sector in Urgent Need of Access to Finance

The government, he said, has distributed 912,920 tonnes of subsidised fertiliser to 1.5 million farmers and reduced the average cost of fertiliser by half since 2013.

Farming techniques At the same time, Uhuru said the government has committed Sh2 billion to support youth in agriculture.

He said the Sh 2 billion Youth Fund will be used to train young people in new farming techniques.

“It will also be spent on new technology and management, so that through the entire agriculture value chain—from the farm to your plate— our youth have a chance to grow a business and to earn a living,” said Uhuru. The programme is expected to benefit more than 750,000 young people within five years.

“We are in talks with our development partners to raise Sh7 billion over the next five years for the same end,” added Uhuru.

As part of the Jubilee administration’s effort to revitalise coffee production and exports, he said the government has allowed a debt waiver of Sh9.5 billion.

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

Trending Stories
Related Articles
Explore Soko Directory
Soko Directory Archives