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Participating banks under the Sustainable Agriculture Financing Facility (SAFF) in Northern Province have disbursed a total of K62.4 million to 1,176 farmers, authorities have revealed.
Northern Province Principal Public Relations Officer, Sandra Mulenga, said the beneficiaries included 822 men and 354 women.
In a statement issued in Kasama on Wednesday, Mulenga explained that the Ministry of Agriculture played a key role in the SAFF process by conducting initial assessments to verify the authenticity of applicants before forwarding them to participating banks.
“The banks then carry out their own due diligence and internal assessments before disbursing loans,” she said.
Mulenga said the SAFF initiative was helping farmers acquire irrigation equipment and encouraging investment in tools that enhance crop productivity.
She added that farmers were also being urged to adopt mechanized farming by purchasing essential implements.
“The facility provides loans ranging from K50,000 to K500,000, with a repayment period of 36 months, allowing farmers to repay under flexible terms,” Mulenga noted.
She said SAFF was a market-driven initiative designed to improve access to affordable financing for small- and medium-scale farmers who often struggle to secure funding for agricultural investments.
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