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Transnational Bank partners with BrazAgro to improve grain storage

Transnational Bank partners with BrazAgro to improve grain storage

Transnational Bank partners with BrazAgro to improve grain storage

Nakuru, 8th July 2015. Transnational Bank, a key financial partner in the grain value chain in Kenya, has partnered with BrazAgro Limited to provide maize famers with affordable metallic silos that enable the farmers to store their grain free from grain borers and at the right moisture levels. Post harvesting losses are estimated to cause between 30-40% losses of the farmers produce. Aflatoxin poisoning and grain borers have been a great challenge for maize and other grains, caused by maize and other grains being stored in inappropriate moisture conditions.

“Available to both account holders and non-account holders, this partnership will help small scale holder farmers producing up to 6 tons, safely store their maize away from grain borers and alfatoxin poisoning,” said Mr. Sammy Langat, the CEO of Transnational Bank. Farmers groups were encouraged to join hands and acquire the silos, and approach the Bank for warehouse receipt financing, and access up to 80% the worth of their grains stored in the silos. “Warehouse receipting will reduce the instances of farmers selling their produce at throw away prices, to meet immediate financial needs,” added Mr. Langat. The silo is also targeted at educational institutions with catering facilities to ensure that the food prepared for students is free from contamination that would occur during storage.

Speaking during the launch, BrazAgro Ltd Commercial Director, Maina Kariuki explained that the silo is the first of its kind in the region, complete with a solar panel aeration system that blows hot air into the silo, hence drying any moisture occurrences. The hot air also keeps grain borers and any other insects away. The Silo will retail for KSh. 430,000 and is available for delivery to any part of the country. “This partnership will ensure that farmers in the country tremendously reduce their post harvesting losses,” added Mr. Maina.