Microfinance companies help hides and skins traders

18/01/2011
Organisations offering finance to small-scale operators in the Kenyan agricultural industry have reported a 300% growth in the number of loans they gave out in 2010 compared to the year before.

Local reports suggest livestock farmers and hides and skins traders are among the people to have benefited.

Agriculture has generated more self-employed businesses and small and medium enterprises than any other sector in the Kenyan economy, the authorities have confirmed. People across the country have been applying in increasing numbers for funding to set up or expand their businesses.

As long as operators are Kenyan citizens, have bank accounts and good credit status, they are eligible to apply for loans, with typical interest standing at 12%.