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Originally published by The Standard Business
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January 14, 2026
2h ago

Low financial literacy holding back more funding to farmers, says top bank official

Low financial literacy holding back more funding to farmers, says top bank official

Many farmers remain ineligible for financing due to a lack of consistent transactions through bank accounts, denying lenders the financial data needed to assess creditworthiness...

✨ Key Highlights

Kenyan farmers face significant hurdles in accessing affordable financing, primarily due to low financial literacy and inadequate banking records. This lack of consistent financial data makes it difficult for lenders to assess creditworthiness, hindering agricultural development and food security efforts.

  • The biggest barrier locking farmers out of credit is a lack of consumer education, not a shortage of funds.
  • Lennox Mugambi, Group Director for Asset Finance at NCBA, highlighted this issue during a financing partnership signing with Inchcape Kenya.
  • Many farmers are ineligible for financing because they lack consistent transactions through bank accounts, which denies lenders crucial financial data.

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