Nairobi, 6th July 2015: Transnational Bank, a leading agribusiness focused bank in Kenya has partnered with Strathmore Business School to develop model farms, train and provide attractive financing solutions to agribusiness entrepreneurs in Kenya.
The first phase will see a course dubbed “Investing in Agribusiness“ start in July 2015, with 2 customized modules, primary production and value addition. The partnership is aimed at enabling farmers to understand the agribusiness ecosystem that is made up of value chain activities, financing and relevant and practical knowledge in agribusiness.
“This partnership will transform farmers into smart agribusiness investors, equipped with knowledge to make business decisions as they engage in any agricultural activity,” said Sammy Langat, the Chief Executive Officer of Transnational Bank. Mr. Langat urged farmers to understand and participate in the various value chains, as opposed to disjointed agricultural activities. Through a value chain approach to agribusiness, farmers can gain maximized value from their activities.
The knowledge gap in agribusiness increases the financing risk, and agribusiness entrepreneurs who will go through this program will qualify for more attractive financing from Transnational Bank,” added Mr. Langat.
Speaking during the same function, the dean of Strathmore Business School, Dr. George Njenga emphasized that a partnership between academia and industry will enable Africa reap benefits from the idle agribusiness resource in the continent. Currently, Africa is termed as the world food basket, holding most of the unused arable land in the world. Despite 7 out of 10 Africans engaging in farming, farmers have remained poor because of the knowledge gap in the sector. “This partnership will close this knowledge gap,” Dr. Njenga added.
The partnership between Transnational Bank and Strathmore Business School is part of the bank’s program to convert 500,000 farmers and youth in Kenya into smart agribusiness investors in 2 years throughout the country.