Successful conclusion of a rural financial literacy project for farmers in Kenya

18.05.2018

Since the launch of the European Investment Bank (EIB) Technical Assistance Programme in 2014, AFC, in cooperation with its partners ADG and Integration, has conducted several successful MSME trainings in its project countries Kenya, Tanzania, Uganda and Rwanda. More than 13,600 MSMEs have been trained in various topics regarding (digital) financial literacy, entrepreneurship skills and business planning so far.

Following the successful launch of the Financial Literacy Campaign in rural Kenya in 2016, AFC has conducted further trainings to farmer self-help groups in Murang’a County. A total of 5 self-help groups (186 farmers) participated in the trainings, which provided them with important knowledge in Financial Planning, Debt Management and Financial Services. The trainings were conducted from February 9th to March 1st, 2018. Special emphasis was placed on regionality. The various training venues were in the home villages of the participants. Additionally, the trainings were held by an experienced local financial literacy expert in the local language of the region, Kikuyu.

To celebrate the efforts made by the farmer self-help groups, who have eagerly participated in the financial literacy trainings, a graduation ceremony was held on March 9th, 2018 in Gatanga. In a festive ceremony the training participants received training certificates by representatives of the EIB East African Technical Assistance Programme. The graduation ceremony was also attended by AFCs direct counterparts from the European Investment Bank as well as by interested representatives from the local Sacco AMICA, who played a vital role in the identification of the farmer self-help groups for the financial literacy trainings.

The financial literacy project in Murang’a County proved to be very successful, as the participants claimed to be overall satisfied with the trainings. Several participants expressed the wish to attend follow-up trainings within the EIB Technical Assistance Programme to further deepen their financial knowledge and improve their bankability.

Considering the importance of such financial literacy trainings, we are eager to continue raising awareness and empowering individuals throughout rural Kenya.

“The European Investment Bank recognises that financial literacy plays an important role in supporting access to finance by creating incentives that promote desired financial behaviour such as saving, budgeting and prudent utilization of credit facilities. The Bank congratulates the farmers for successfully completing the training and is keen to continue supporting similar financial education programs to be rolled out in other parts of the country by AFC,” said Catherine Collin, EIB’s Head of Regional Representation for East Africa.

 

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