OUR MANDATE
Commodities Fund is established by Crops Act, 2013 to provide sustainable and affordable credit and advances to farmers for all or any of the following purposes:
(a) Farm improvement
(b) Farm inputs
(c) Farming operations
(d) Price stabilization
(e) Any other lawful purpose approved.
WHY COMFUND
- Subsidized interest rates, between 3% – 7.5%
- Friendly repayment plans based on reducing balance model
- Favourable securities including tripartite & contract agreements/ bank guarantees
- Revolving Fund tailored to support agricultural value chains from farm to consumption
- Credit facilities tailored to fit targeted crop seasons
- Shariah Complaint facilities under product development
OUR CLIENTELE
- Producers: Small and Large scale farmers
- Producers’ Institutions
- Processors/millers
- Private and government institutions
- Service providers for scheduled crops (Marketers, transport, exporters, distributors etc.)
REGIONAL OFFICES:
- In order to take our services closer to our clients and further reduce the cost of access to agricultural credit, we have established regional offices in Nairobi, Embu, Meru, Nyeri, Kericho, Eldoret, Bungoma and Mombasa
- Sugar Loans
- Coffee Loans
- Coconut Loans
- Cashew nut Loans
SMS mcommodity querying system
- SMS to 220553
- Receive SMS sender name mcommodities
The information you can receive
- Farmer statements/reports
- Intermediary portfolio and statements
- Loan products information
How to receive information
- Send the specific number for retrieving information
- Send the number 1 to 22053 to receive farmer information
- Send ID#2 to 22053 to receive the farmer’s statement
- Send the number 2 to 22053 to intermediary information
- Example Send int00060#2 to the intermediary balance statement
- Send the number 2 to 22053 to get loan product information
- For example, send 32 to 22053 to view extended advances loan product
Browsing information
- Send help to 22053 and follow the instructions until you get the information you want
Commodities Fund
Commodities Fund is a Kenyan government Agricultural agency established by the Crops Act, 2013, to pr
COMFUND, VUNAPAY PARTNER TO DIGITIZE FARMERS’ COOPERATIVES
Farmers’ Cooperatives and Unions stand to benefit from a digitization programme, following a Memorandum of understanding (MoU) that was signed today between the Commodities Fund and Vunapay.
While Commodities Fund (ComFund) will finance the digitization while delivering other credit facilities to support farm operations and produce processing, VunaPay, a FINTECH company will provide online systems to enable farmer cooperatives to automate, including in the areas of farmer payments as well as data and record management.
“It is our desire to encourage adoption of IT technologies by the farming community,” said Nancy Cheruiyot, the ComFund’s Managing Trustee/ CEO, “with consent and instructions from the cooperatives, commodities Fund will be able to deliver credit to societies and farmers via Vunapay platform.”
Ms. Cheruiyot signed the MoU on behalf of the ComFund, while VunaPay’s signatory was its C.E.O., Ms. Judy Njogu- Mokaya, an exercise that was held Commodities Fund’s Boardroom, Nairobi Utalii Offices, and witnessed by Mr. Zachary Waweru (ICT Manager, ComFund) and Mr. Koya Matsuno (Chief Operations Officer, VunaPay).
Others were: Mr. Silas Nyaga (Finance Manager, ComFund), Ms. Roseline Wambura (Credit Manager, Commodities Fund) and Ms. Vivian Wasike (Legal, ComFund) .
Ms. Njogu-Mokaya said the digitization will increase efficiency and transparency in the way cooperatives manage their workflows, including managing data on farmers’ produce & payments and automation of farmers’ record.
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ABOUT COMFUND:
Commodities Fund is a government agency established by Crops Act 2013 under Ministry of Agriculture & Livestock Development to provide sustainable, affordable and accessible financial services for development of the crops sector through efficient resource mobilization and service delivery.
The Fund is currently financing Coffee, Sugar, Coconut, cashew nut & Banana (portfolio under operationalization) subsectors.
(pics/ ComFund)
4 CommentsComment on Facebook
Great milestone indeed, the smallholder needs are now sorted and i know the youthful age will go back to agriculture 🙏
Congratulations Gatwiri Mokaya 👏🏾👏🏾👏🏾😊😊
I T technology the future for coffee farmers
A journey to empower farmers start's with this partnership.
FAQs- 4: "WHAT IS THE MAXIMUM AMOUNT YOU CAN LEND TO AN INDIVIDUAL/ COOPERATIVE AT A GO?"
ANSWER: Up to Kshs. 15 M for individuals; up to Kshs. 100 M for SMEs (Coops/ Associations/ Special groups); and up to Kshs. 500 M for Corporate (SACCOs/ Unions/ Liability Companies…etc).
1 CommentComment on Facebook
This is so amazing
FAQS 3. WHOM DO WE FINANCE?
ANSWER: We finance players within targeted value chains (currently sugar, coffee, coconut, cashew nut value chains):
- producers (small & large scale),
- farmer groups/ cooperatives
- out-grower institutions/ unions/ SACCOs;
- Agric. institutions in production/ processing;
- individuals/ Firms in value addition/ processing,
- ETC.
2 CommentsComment on Facebook
How are farmers selected to attend these seminars
Good work
