HortiNigeria, a horticultural interventionist organisation, has launched a financial linkage initiative designed to enhance farmers’ productivity in Kaduna State.
The initiative, tagged: “Boosting Financial Access,” is anchored on empowering 55 farmers, including value chain actors across nine councils of the state.
At the opening of seven days sensitisation training for the farmers, Agribusiness Coordinator, HortiNigeria, Mr. Danjuma Makama, explained the initiative was part of the organisation’s effort to enhance agricultural productivity and sustainability in the state.
Makama reminded the beneficiaries that the financial access training is being conducted for comprehensive awareness and understanding for producer organisations in Kubau, Soba, Ikara, Makarfi, Kudan, Sabon Gari and Zaria councils of the state.
“The training is aimed at bolstering financial access and insurance uptake for 55 producer organisations (POs) and Agribusiness Cluster (ABC) actors.
“Over the course of seven days, producer groups and actors within the programme value chain – tomatoes, pepper, onions, cabbage, as well as transporters had the opportunity of broadening the knowledge of service providers to facilitate seamless linkage to finance.
The inclusive finance lead in HortiNigeria, Ikechukwu Chiaka, told journalists that the sensitisation would enable the beneficiaries to acquaint themselves with necessary knowledge in all that it entails to be bankable.
“This workshop is part of our commitment to supporting Nigeria’s horticulture sector through capacity building and sustainable development practices of smallholder farmers. By empowering farmers with access to finance and insurance, we are paving the way for sustainable and inclusive horticulture sub-sector in Nigeria.
“The objective is also to increase access by exposing the beneficiaries to different sources of suitable financial and insurance products,” Chiaka said.
A representative of one of the financial institutions, Mrs Bold Annatu, explained that farmers under HortiNigeria financial linkage initiative would benefit from single digit interest rate and equity deposits.
“Our trust is to ensure farmers are given access to finance to boost their trade. We provide financial literacy and insurance facilities, especially on death, flood and fire. What they require is just one per cent of total sum required.
On the interest, Annatu said: “We have two different types; one is for the agro processing company at five per cent reduction rate, while producers have 2.5 per cent.”
