Co-operative Bank of Kenya Head of Retail Trade Finance Elizabeth Makokha and KNCCI National Chairperson, Kenya–China (Asia) Trade and Investment Initiative Richard Ndungu during the MOU signing. [Courtesy]
Limited access to affordable trade finance continues to lock out thousands of Kenyan farmers, cooperatives and micro, small and medium enterprises (MSMEs) from lucrative international markets despite growing global demand for Kenya's agricultural produce.
In a bid to address the financing gap, the Kenya National Chamber of Commerce and Industry (KNCCI) and Co-operative Bank of Kenya have strengthened their partnership to expand access to trade finance and unlock export opportunities for farmers, cooperatives and MSMEs.
The initiative comes at a time when agriculture remains the backbone of Kenya's economy, contributing about 33 per cent of the country's Gross Domestic Product (GDP) and employing more than 40 per cent of the population and about 70 per cent of rural households, according to the Kenya National Bureau of Statistics (KNBS) Economic Survey 2025.
Despite the sector's importance, limited access to affordable credit and trade finance continues to constrain smallholder farmers, cooperatives and export-oriented MSMEs from scaling their businesses and accessing international markets.
Speaking during a meeting between KNCCI and Co-operative Bank to review implementation of their memorandum of understanding (MoU), KNCCI president Erick Rutto said access to finance remains one of the biggest obstacles to growing Kenya's export sector.
"Access to finance remains one of the greatest constraints facing our farmers, cooperatives and MSMEs. Through this partnership with Co-operative Bank, we are developing practical financing solutions that will enable businesses to trade more competitively, increase exports, create jobs and improve incomes across the agricultural value chain," said Dr Rutto.