M a r k e t N e w s

The Co-op Bank has secured $10 million in funding to lend to agribusinesses

Posted on : Monday , 26th April 2021

The eco.business Fund, an impact investment sub-fund for Sub-Saharan Africa, has given $10 million to Co-operative Bank for on-lending to sustainable agribusinesses.

 

The fund's first investment in Kenya provides much-needed funding to businesses looking to improve sustainable agricultural practises, which is especially necessary given the difficult operating environment generated by the Covid-19 crisis.

 

Co-operative Bank CEO Gideon Muriuki said in a statement that the lender's new alliance with eco.business Fund offers funding tailored to agriculture's financing cycles, as well as support structures to help farmers make a successful transition to sustainable, climate-smart agriculture.

 

Mr Muriuki said, "We have always strived to help farmers in their journey to achieve sustainable livelihoods, right from our founding as a bank for agriculture co-operatives."

 

The eco.business Fund was established by the German KfW Development Bank and Conservation International, with funding provided by the German Federal Ministry for Economic Cooperation and Development (BMZ).

 

The German-based impact investment fund, which was officially launched last year (2020), is dedicated to biodiversity conservation, sustainable natural resource management, and climate change mitigation and adaptation.

 

The eco.business Fund and Co-op Bank will use this new investment to provide required credit to sustainably certified agribusinesses, such as those in Kenya's key agricultural exports of coffee, tea, and horticulture.

 

“This new relationship with Co-op Bank looks promising because the bank is well placed to serve as a facilitator of sustainable production practises. We can only jointly promote green finance with the aim of creating positive environmental and social impact if we provide tailored financing to the agricultural sector, which is a key driver of economic activity and sustainable development in Kenya,” said Dr Mackensen.

Agriculture is the cornerstone of Kenya's economy, employing roughly 75 percent of the rural population and accounting for 34 percent of the country's GDP.

 

The investment aims to provide financial services to those who are most in need while also supporting environmental finance as a mainstream concept.

Source : www.africafood.ke
-->
Featured Companies
  • Fasa | Packaging machinery and solutions
  • /
  • PRODAL 94 SRL
  • ME GUSTA

Complete List  

Advertisers in previous issue:

  •  We are a prominent packaging company based at industrial heart of Ahmedabad city.
  • MAYORA Group has grown to become one of the recognized names in the Fast Moving Consumer Goods Industry.
  • Dairy Products,Beverages,Ice Creams;etc.
  • Veendeep Oiltek is one of India
  • Ideo Tecnica, a company specialized in machinery for the confectionery industry and especially chocolate
  •  The company started in 1987 and is today one of the largest privately owned companies supplying containers for a multitude of applications.
  • Gateway to Global Food B2B Marketplace
  • Kitchen Equipment
  • Packing Materials & Machines, Packing  Materials & Machines manufacturer.
  • Immediately following WWII, Pan American World Airways had a vision of mass civilian international business and leisure air travel and so began trailblazing its way across the skies of the Americas, Europe, Africa, Asia and the Middle East. Thus came
  • The Major Food Processing & Packaging Technology Show in Egypt & North Africa
  • AgriTech Analytic
  •  More than 30000 food and non-food references delivered anywhere in the world.
  • Manufactures & Suppliers of all Hotel,Restaurant & Bakeries Equipment.
  • Magazine
  • Manufacturer of prepared ethnic food and frozen seafood located in Sg. Besar, the western coastline of Selangor.
  • Postharvest international directory of suppliers. Equipments, materials & services. Fruits, vegetable & ornamentals.
  • Manufacturing of ice cream cones, sugar cones. Soft serve ice cream powder mix.
  • The company was established since 1976Group of Companies, one of Ghazi and OlayanThe company is located in the schwing and this region is very rich in fruit trees of all varieties because of its mild climate
  •  Richfield Industries is a part of one of the fastest growing industrial and services conglomerate with projected turnover of Rs.1000 crore.
  • Industrial Dynamics / filtec has been a leading innovator in the filed of inspection and laser coding equipment
  • MM Vitaoils is a world leader in downstream palm oil industry with full range of packaging.
  • The Gulf Union Foods Company is one of the key national companies that have a clear contribution to the food manufacturing sector, especially juices and beverages.
  • Wide Range of Kitchen Equipments.
  • Ulker Group started its adventure with 75 tons of biscuit production in its first year, 64 years ago.
Afrotrade International Marketing, Tel: +971-50-6285684
© 1998-2025 Afrotrade