Farmers ditch family loans for banks and Sacco borrowing

Kenyan farmers are increasingly turning to Saccos and commercial banks to finance their farms, according to a Central Bank of Kenya (CBK) survey. The share of sampled farmers reporting Sacco loans rose from 17 percent in July to 32 percent in September. Bank borrowing also increased, from 21 percent to 29 percent, while reliance on loans from family and friends fell as overall borrowing grew.