Friday, June 6, 2025
Star Today Logo
  • Home
  • News
  • Business
  • Politics
  • Investigation
  • Health
  • Opinion
No Result
View All Result
Star Today Logo
Home Business

Co-op Bank signs Sh500m fertilizer deal with Yara East Africa

September 8, 2020
in Business, News
Reading Time: 2 mins read
Co-op Bank signs Sh500m fertilizer deal with Yara East Africa
23
SHARES
Share on FacebookShare on TwitterShare on Whatsapp

Readers' Choice

Kindiki tours Ukambani region

Co-op Bank recognized as one of Africa’s fastest-growing companies

Co-operative Bank of Kenya on Tuesday, September 8, a KSh 500 million financing deal with leading fertiliser company Yara East Africa Limited.
This is aimed at facilitating Yara fertiliser distributors across the country with a dedicated kitty to support them purchase and restock their outlets.
The Distributor Finance Scheme launched on Tuesday is a five-year partnership that kicked off with Sh62 million released to the Yara fertilizer distributors who have already applied for the scheme.
Yara distributors need to open MSME Account with Co-op Bank to access the funds.
The Distributor Finance Scheme will enhance fertilizer access by farmers hence boosting the much-needed food production in the country.
This financing program will enable farmers to access the various Yara fertilizer brands with ease. This in turn will boost fertilizer use to increase soil fertility and thus promote increase in food production across the country,” said William Ng’eno, Yara Country Manager for Kenya.

The scheme aims to enable distributors to increase their stock to meet the high demand for fertiliser during this short rain planting season and beyond.“The Finance Scheme will help distributors of Yara fertilizers to maintain their desired stock levels for fulfilling the requirements of their customers, enabling them thrive in the marketplace.
The distributors can borrow upvto a maximum of Sh20 million to finance purchase of their fertilizer stocks,” said Co-op Bank’s Ag Director Corporate and Institutional Banking, Jacquelyne Waithaka
.“The distributors will enjoy negotiated banking terms, with a disbursement fee of 2 per cent being the only charge. “In addition, an overdraft with an expiry period of six months and payment upon utilisation of the overdraft will be due within 45 days,” Waithaka added.
Tags: Yara East Africa
ShareTweetSend
Previous Post

Six counties on ministry’s radar over rise in virus cases

Next Post

Coronavirus: Oxford University vaccine trial paused after participant falls ill

Related Posts

Kindiki tours Ukambani region

Kindiki tours Ukambani region

June 5, 2025
Co-op Bank reports Ksh13B half-year net profit

Co-op Bank recognized as one of Africa’s fastest-growing companies

June 3, 2025
Next Post
Coronavirus: Oxford University vaccine trial paused after participant falls ill

Coronavirus: Oxford University vaccine trial paused after participant falls ill

Please login to join discussion

Continue Reading

Kindiki tours Ukambani region

Kindiki tours Ukambani region

by Star Today
June 5, 2025

Deputy President Kithure Kindiki stormed Ukambani on Thursday, June 5, 2025, for a fundraiser in MP Nimrod Mbai’s Kitui East...

Co-op Bank reports Ksh13B half-year net profit

Co-op Bank recognized as one of Africa’s fastest-growing companies

by Star Today
June 3, 2025

The Co-operative Bank of Kenya (Co-op Bank) has been recognized as one of Africa’s fastest-growing companies in the 2025 Financial...

Cosmo Choy steals spotlight as he reunites with Ruto allies in Kisii

Cosmo Choy steals spotlight as he reunites with Ruto allies in Kisii

by Star Today
May 22, 2025

Former US-based UDA activist Ombori Monari, popularly known as Cosmo Choy, on Thursday, May 22, 2025, joined a team of...

Catholic priest shot dead by bandits in Kerio Valley ambush

Catholic priest shot dead by bandits in Kerio Valley ambush

by Star Today
May 22, 2025

A Catholic priest was shot dead on Thursday afternoon in a brutal ambush by armed bandits in Kerio Valley, a...

Recent News

  • Kindiki tours Ukambani region
  • Co-op Bank recognized as one of Africa’s fastest-growing companies
  • Cosmo Choy steals spotlight as he reunites with Ruto allies in Kisii

Category

  • Business
  • Health
  • Investigation
  • News
  • Opinion
  • Politics
  • Star Today

© 2023

No Result
View All Result
  • Home
  • News
  • Business
  • Politics
  • Investigation
  • Health
  • Opinion

© 2023