Kagoka Foods in partnership with Ngece Rinjeu Foundation (Http://www.ngece-rinjeu-foundation.org) has initiated the Food Bank concept where we work with Organized Farmer Groups (OFG’s) in Eastern Kenya to provide storage facilities for excess harvested food. During the harvesting season food is in plenty and farmers sell it at very low prices to middlemen.
The Food Banks concept aims at advancing the farmers cash for supplied food, and later topping this up with the balance at the market price when the prices of the food items gets better (usually after 3 months). The concept works with organized farmer groups across the region, who come together to open Food Bank Accounts with Kagoka Foods, agree on the quantities of food to supply for either storage or sale, and benefit from certified seeds and fertilizers, or cash equivalent. The concept also ensures that farmers are able to grow all types of cereal and tuber crops and sell at a competitive market price.
The concept focusses on food crops such as Maize, Green grams, Cassava, Yams, Millet and Sorghum. This is through an initiative to promote growing, processing and storage of traditional food crops; most of which have been abandoned by communities.
Kagoka Foods in partnership with Ngece Rinjeu Foundation (Http://www.ngece-rinjeu-foundation.org) and kwftbank.com (Http://www.kwft.com) has a concept where each of the participating farmer groups save money from sale of the harvested food in a Food Savings Account (FSA). The Organized Farmer Groups (OFG’s) through the Food accounts at Kagoka Foods save atleast Ksh 10 per Kg of food supplied to the mill or the Food Store. Kagoka Foods saves this money into the farmer Food Savings Accounts at KWFT Bank whenever they supply the food to the Food Banks. Each member of the farmer group is able to access cash advance from the Financial Institution when in need. This ensures that the farmers have access to finance to buy farming items in the times of need.