NEWS!!!

OPENING OF NEW AFC BRANCH & LAUNCH OF NEW PRODUCTS & CUSTOMER SERVICE CHARTER
7^TH APRIL 2009

The Corporation has developed new products and services targeting agri-business traders in Nairobi and its environs. The official opening ceremony and launch of new products and Service Charter was presided over by the Minister for Agriculture, Hon. William arap Ruto at Development House on 7^th April 2009.

This opens up the opportunity for traders who would require credit at short notice.  Stawisha, a micro-credit product targeting traders in agricultural produce and the Vuna Account, a transaction based product, is proof that AFC is bracing itself for responding to the challenging business environment. Through Stawisha, the Corporation has loosened lending conditions, to allow low agri-traders without title deeds to borrow as groups.

The new products which target small-scale traders or groups will enable them build up their cash collateral through the new Relationship Account. Through this account the Corporation will offer more comprehensive on-the-counter services to the farmers who will have their loans processed and accessed through their account as opposed to payment through bankers- cheques that are cleared through commercial banks. This reduces transactional cost related to loan disbursement.

 This new business approach demands that we re-align the Corporation’s operation systems to respond to the current market paradigm- that of efficiency, low costs and quality customer service. The alignment process requires an extensive further review of service delivery systems and product portfolio, and to identify new investment opportunities to effectively face the growing challenge posed by market dynamics.

Minister for Agriculture, Hon. William arap Ruto 

CUSTOMER SERVICE CHARTER

These innovations together with the Customer Service Charter are proof of the new strategic direction the Corporation is charting. One that endeavors to work closely with the customers in order to improve the value proposition to them as well as work towards their ever changing needs.

The Customer Service Charter therefore is a statement of our renewed commitment to our customers and developed with the belief that customers are at the centre of everything we say and do, the manner in which we intend to relate with them - the services they should expect from us, the manner in which these services will be delivered and the recourse to take in the event of inadequacy.

The charter has been developed with input from customers and stakeholders including the media, community representatives and staff of AFC.

Our promise and commitment is to embrace the principles and ethos of good corporate governance which include accountability, effectiveness, integrity and transparency in order to maintain high quality relationships with our stakeholders.

 KAMULU FIELD DAY-6^th March 2009

AFC Development House branch was among exhibitors at a field day hosted by the Ministry of 

Agriculture at Kamulu-Drumvale near Ruai in Nairobi. A large number of farmers visited AFC 

stand and made enquiries on the possibility of  accessing an AFC loan in the new group 

guarantee program.

AFC GOES M-PESA

The long awaited partnership with Safaricom is finally here with us as the Corporation goes operational with the popular M-Pesa services to its customers. We have operationalised M-Pesa services in all our branches, and have two cash points at the Head office one on the 6^th floor Development House and at our Development House branch on the ground floor facing Tom Mboya Street.

The services have been well received and are expected to benefit the unbanked population within the society as well as help clients to service their loans promptly. Branches like Wote, Nanyuki and Bomet have reported good business through M-Pesa services.

Kindly visit any of our branches near you for quick and limitless money transactions NOW!

OPENING OF AFC DEVELOPEMENT HOUSE BRANCH

The new Development House branch has opened doors to the Agri-business community in support of Nairobi based Agri-business traders. For the first time small scale Agri- business traders/groups will be able to build up their savings in a Loan Servicing account against which they can be advanced loan facilities ranging from between Ksh.10,000/= and Kshs 1million at  graduating Levels.

This comes as an answer to the many small scale business traders who had been left out of AFC loan facilities for lack of collateral. Registered groups will be able to access AFC credit facilities in the new Nairobi branch, where group members will guarantee each other for group loans.

2ND NATIONAL AGRICULTURAL SECTOR CONFERENCE

10TH TO 12TH NOVEMBER 2008

A large delegation of stakeholders in the farming industry met for the second National Agricultural Sector Conference held at the Nairobi’s Safari Park Hotel.

 The conference objective was to discuss and share experiences on emerging global issues of increase in food prices, climatic change and strategies to address them in order to further drive the agricultural development agenda for vision 2030.

 
It was opened by His Excellency the President Hon. Mwai Kibaki and was officially closed by the Vice-President Hon. Kalonzo Musyoka. AFC Managing Director, Mr. Omurembe Iyadi and Mr. G.B.Makomere of Business Development attended the function. AFC was among the over 35 exhibitors who exhibited during the conference

 
KITALE ASK SHOW

29th October, 2008 to 1st November, 2008

The Corporation participated at the ASK Kitale show and stamped its presence in style by emerging  position one in the following categories;-   

Best Financial Institution

Financial Institution /Banking stand

The good performance was a proof that   “Yes, We Can “still reclaim our market share if only we attach meaning and by being thorough in what we do.

THE STANDARD NEWSPAPER

7^TH OCTOBER 2008

In the Financial Journal of the standard newspaper of 7^th October, AFC Managing Director Mr. Omurembe Iyadi emphasized that despite the troubled past and lack of resources, AFC is determined to   craft a comeback in a bid to recapture its market share. Strategies have been put in place to ensure that the Corporation re-positions itself and reclaim its lost market leadership.

KENYA BREAST HEALTH AWARENESS WALK

4^TH OCTOBER 2008

The Corporation was not left behind during this year’s Kenya Breast Health Awareness walk which took place on 4^th October, 2008.  AFC gave a donation of Kshs.30, 000/= and participated in the walk which was flagged off at 8.00a.m.  by the Minister of Health Hon. Beth Mugo. 

Afterwards the participants were entertained with song and dance by Kayamba Afrika as they queued for free breast examination and Pulp Smear test for early detection of cancer which helps save breast and life.

CEREBRAL PALSY SOCIETY OF KENYA CHARITY WALK

27^TH SEPTEMBER 2008

A Corporate sponsorship of Kshs.10, 000/= was made towards the Cerebral Palsy Society of Kenya charity walk (CPSK). A few staff represented the Corporation in the walk. Funds raised are in aid of construction of a rehabilitation centre for both the children with cerebral palsy and counseling centre for their parents.

Cerebral Palsy Society of Kenya is a non-profit making organization set up by parents of children with cerebral palsy (CP)

CP is a developmental disability caused by brain damage shortly before, during or after birth. It describes a group of conditions in which brain damage affects a person’s ability to move and control his/her muscles.

               For enquires please call 0202013876/0725607978, Fax 554970

INTER-BANK AND FINANCIAL INSTITUTIONS SPORTS COMPETITION

14^TH TO 21^ST SEPTEMBER 2008

The corporation made a comeback of the renowned AFC Kamili sports team during this year’s Interbank competition that was held at the Kenya School of Monetary Studies on 14^th to 21^st September 2008. AFC Kamili netball team enrolled and participated. They emerged as the overall Best Netball Team Trophy winners.

ASK CENTRAL NATIONAL SHOW

17^Th-20^Th SEPTEMBER 2008

The Corporation stand was well designed to interpret the theme of the show this year. It was clear that great team work and effort came into play in the preparation of the stand. In addition, the turnout was enormous. Queries from existing and potential clients visiting the stand were satisfactorily addressed. On the official opening date, the assistant prime minister, Hon. Uhuru Kenyatta, visited the Stand and expressed his appreciation and acknowledgement of the work being done by the Agricultural Finance Corporation.

 ASK MOMBASA-27^th-31^st August, 2008

The Corporation participated in this year’s ASK Mombasa show, officially opened by his Excellency the President Hon. Mwai Kibaki.

The turn up was good at the AFC stand which saw the Minister for Agriculture Hon. William Rutto visit the stand and was received by Mrs. G. Nasieku Tarayia.

PUBLIC SERVICE WEEK- 20^th-22^nd August, 2008

The Public Service Week was marked on 20^th-22^nd August, 2008 throughout the country. The theme for the week was “Citizen Service Charter Delivery”

The event saw 22 of the Corporation’s Branches participate in their respective Districts, this also included the Head Office who exhibited at the Nairobi’s KICC grounds.

Over 1000 attendants visited our stand at the KICC during the event which was officially opened by the Prime minister Hon. Raila Odinga.

18^th July, 2008

AN 8^th ANNIVERSARY CELEBRATION

The Corporation continuously supported the Korogocho Caretakers Orphans & Education Centre to share their celebration and joy during their 8^th Anniversary celebration held on the 18^th July 2008.

The jubilation of the event was marked when the Area chief awarded a piece of land to the founder Mrs. Josephine Ameyo in which the CareTakers Educational Centre shall be built.

ASK NAKURU SHOW-9^th-12^th July 2008

The Corporation hosted a farmers’ luncheon together with Kenya Seed Company on 9^th July 2008 and exhibited in this year’s ASK Nakuru show. The Minister for Agriculture emphasized the importance of loan repayment and stated that the Government would boost AFC’S capital base to enhance lending and emphasized the need for the farmers to repay the AFC loans and that there shall be no write-offs.

ASK KISUMU SHOW-29^th July-3^rd August 2008

The Corporation participated in this year’s ASK Kisumu show .The show was officially opened by the Prime Minister, Hon.Raila Odinga who also visited our stand.

There was also a dinner held on 31^st July 2008 where the Chairman addressed staff and informed them on the importance of improving service delivery to farmers and by extension the Corporation’s image.

Tuesday February 12th, 2008

POST ELECTION CHAOS

It is expected that many of the farmers have been affected by the ongoing political skirmishes. Talking to the Daily Nation this week the managing director Mr. Omurembe Iyadi expressed that AFC is making all efforts to find out who the extent to which our clients have been affected.  He added that a survey will be carried out to find out “how many of our clients have been affected and in what ways, so that we can see how to repackage the facilities and make it easy for them to continue with their activities”

However it is noted that the current situation is unique because the institution has recorded high repayment is January and February. Farmers are encouraged to go to the branches and report their situation.