RUFI Expands Agric Lending to 3 Branches
RUFI started lending to farmers in Kajo Keji in 2010 through the support of Cordaid to pilot the product. Having registered success with the product since then, agric lending is now expanded to Nimule and Yei Branches in 2015. Sectors funded include production, poultry and agro inputs supply. With appropriate funding, plans are underway to expand lending to value chain financing and machinery.
Lending to the agric sector has been shunned by a number of financial institutions given its numerous challenges including the reliance on rain-fed sources of water and market unpredictability. RUFI has however registered success since 2010 and now serves over 200 farmers, both in groups and individuals with a total outstanding portfolio of SSP 266,000 by May 2015.