Participants enrolling for “Investing in Agribusiness” program series at Strathmore Business School will enjoy lower loan interest rates from Transnational Bank. This will pave way for budding agribusiness investors to access funding at considerably lower rates than other players in the market.
Transnational Bank joins an already existing partnership between Strathmore Business School and Latia Resource Centre, which has seen the two institutions provide training to investors in the agribusiness sector.
Participants will be assisted in designing proper business models, farm plans, as well as understanding core dynamics which contribute to a successful agribusiness venture such as understanding the markets, marketing strategies, agribusiness costing and financials, major pitfalls in agribusiness investments and how to avoid them.
The first phase of the partnership has seen the program coin two customized modules, “Primary Production and Value Addition, which will train the participants on pertinent areas to delve in, in ascertaining significant value on their investment.
The second phase of the project will see select investors who have undergone the training and demonstrated commitment to grow, go through an intensive 3 year agribusiness mentorship program funded by the Dutch embassy in a bid to expand their businesses and increase their revenues.
Africa is termed as the world food basket, holding most of the unused arable land in the world. However, Africa’s food import bill is worth US Dollar 35 billion, (which excludes fish) every year, a clear indications of Africa’s struggle to food stability and security. “Despite the fact that 7 out of 10 Africans engage in farming, food stuffs rank among the top five list of the main imported commodities,” remarked Dr.George Njenga- Dean Strathmore Business school during his commencement speech.
However, the missing link in translating agribusiness into valuable investment venture is a puzzle the partnership aims at solving. “This partnership will transform farmers into smart agribusiness investors, equipped with knowledge to make business decisions as they engage in any agricultural activity,” said Sammy Langat, the Chief Executive Officer of Transnational Bank.