Commodities Fund (ComFund) is established under Crops Act 2013 (amended May 2016), Article 9 (1). The Fund is the successor of the Coffee Development Fund and Sugar Development Fund (which was part of Kenya Sugar Board).
Coffee Development Fund and Kenya Sugar Board were among other Agriculture Sector institutions that ceased to be, following coming to effect of Crops Act 2013 on 1st August 2014, following the review and consolidation of over 130 laws (which existed in the agricultural sector in Kenya, including the Coffee Act, 2001 that had established Coffee Development Fund, and Sugar Act, 2001 that had established Kenya Sugar Board, which administered Sugar Development Fund) which culminated in the enactment of the Agriculture and Food Authority Act, 2013 (amended May 2016), the Crops Act 2013 (amended May, 2016), and the Kenya Agricultural and Livestock Research Act, 2013.
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Commodities Fund
Commodities Fund is a Kenyan government Agricultural agency established by the Crops Act, 2013, to pr
COMMODITIES FUND BOARD'S RETREAT to undertake mid-term review of the (ComFund's) Strategic Plan (2023-2028) continues at Lake Naivasha Resort, Nakuru County...
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STRATEGIZING RETREAT: THE COMMODITIES FUND'S Board of Trustees is holding a joint workshop with its Management Team to review the Fund's 2023-2028 Strategic Plan.
The implementation of the five-year Strategy document is in its third year of implementation, necessitating the need to take stock of the level of implementation of the set objectives, and then map the way forward on how to achieve the remaining targets.
"Our intention is to ensure we give the public the maximum value for the trust entrusted upon us to finance the agriculture sector in Kenya," the Board's Chairman, Mr. Duke Mainga Ondiba Echate told the joint Board-Management meeting earlier today, as he opened the workshop at Lake Naivasha Resort.
The workshop is being attended by among others, the membership from the State Corporations Advisory Committee, Alternative Representatives (Principal Secretary, the State Department for Agriculture and the Principal Secretary, the National Treasury), among others.
(Pics/ ComFund)
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USE DIRECT SETTLEMENT SCHEME TO ACCESS COFFEE LOANS, COMFUND TELLS COFFEE SECTOR
Coffee Societies can now use Direct Settlement System (DSS) scheme to secure low cost credit from Commodities Fund without any other collateral, Nancy Cheruiyot, the ComFund's Managing Trustee announces.
"So long unauza kahawa yako through Nairobi Coffee Exchange, tutaandikiana mkataba, halafu mpate mikopo ya kilimo cha kahawa. Hatuhitaji tena tangible security. Nikuandikishiana na nyinyi kuwa pesa yenyu ita deduct-iwa pale Nairobi Coffee Exchange," she said.
She informed the coffee sector that for all their financial needs, Kenya Kwanza Government, through the Commodities Fund has availed low cost credit to be accessed at an interest rate ranging from 3% to 7.5%.
Ms Cheruiyot was addressing coffee farming community during the official opening of Kichawir Coffee Factory in Kipkelion East, Kericho County by the Agriculture Principal Secretary, Dr. Kipronoh Ronoh Paul,, CBS.
PS Rono revealed plans to increase coffee production from the current 50,000 MT to 150,000 MT by 2027, where he also distributed coffee seedlings
Commodities Fund is currently financing Coffee, Coconut, Banana and Cashew Nuts subsectors.
Office of Cabinet Secretary Ministry of Agriculture & Livestock Development
(Video/ Courtesy of KassTV)
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