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Onboarding Large scale farmers and Agriculture Commodity Aggregators on Warehouse Receipt System

The Council held a consultative meeting with Agriculture Commodity Aggregators and Large-scale farmers to onboard Warehouse Receipt System in Nakuru County targeting the November/December 2021 maize harvest season. Consultations with Equity bank and potential depositors on Warehouse Receipt Financing (WRF) were held on utilizing the Warehouse Receipt (WR) as collateral. Equity Bank is currently financing farmers for inputs and a package is available for WRS related loans which is at 13% p.a. The interest rate reduces based on the period the loan is taken. Discussions were also held with National Cereals and Produce Board on warehouse storage charges and related grain handling charges for commodities deposited in the licensed warehouse (Nakuru NCPB stores). 

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