For Samson Muoki, a grain farmer in the semi-arid Machakos County, growing maize has become an act of faith. “Sometimes we experience good rains. Other times, rains continue for a few days after I plant, then stop. And there are times when it doesn’t rain at all,” he says, looking out across a neighbour’s parched field where only a few stunted maize stalks remain.
Like thousands of other smallholder farmers across Kenya, Samson’s livelihood had come under intense pressure from increasingly erratic weather patterns. “I experienced crop failure thrice in five years,” he says.
In the past four decades alone, Kenya has endured 74 major natural disasters, including 54 floods and 14 prolonged droughts. These extreme weather patterns are placing immense strain on Kenya’s agriculture sector, which remains the key source of livelihood for about 70% of the country’s population. This makes the building of resilience in this sector a national priority. And the private sector is stepping up to help protect the livelihoods of farmers.
Today, farmers like Samson are embracing innovative support systems to mitigate the crop failure risks as well as build resilience. One such institution providing these lifelines is Stanbic Bank Kenya, which has developed targeted agribusiness solutions to address the challenges facing the farming households in Kenya.
The financial institution believes that even though farmers in the country are adapting to climate change, there is need for safety nets since one bad season can easily wipe away gains made in years.
Stanbic has tailored insurance products around risks that farmers in Kenya such as Samson face. The insurance products cover crops, livestock, farming infrastructure, vehicles and farming equipment to mitigate risks such as crop failure, farming equipment breakdown and losses due to natural disasters.
This means farmers like Samson, who has now insured his maize crop and tractor, these tools offer more than just peace of mind, they provide “the ability to replant, plan ahead and secure income even after a crop failure.”
However, insurance is not the only farming solution. Access to markets is the other headache farmers face. Stanbic has responded with digital platforms that are now reshaping farming from production to the market.
Through the OneFarm Solution, Stanbic links farmers to agri-experts, buyers, and input suppliers, creating a digital marketplace and support network.
In addition, the E-Market Trader platform allows farmers to monitor price trends, forecast demand, and plan prudently.
This Stanbic’s agribusiness support is helping farmers across Kenya transition from survival to predictability.
As meteorologists warn of more unpredictable rainfall and extreme weather in coming years, Stanbic’s risk management and agricultural infrastructure are no longer just support mechanisms but lifelines for farmers.
To explore about the Stanbic agribusiness solutions, including the OnFarm Solution and E-Market Trader, visit the Stanbic Agribusiness page.