Co-op Bank Loans: The bank will be offering billions of loans to small businesses across the country

Coffee farmers in Meru County can now heave a sigh of relief. This follows a plan that will see them get their coffee payments within 30 days of delivery through the Co-operative Bank.

This payment will which has been organized by the Meru County Government in conjunction with Co-operative Bank will kick off in April next year.

Meru co-operatives executive Maingi Mugambi said co-operatives will get the cash from Co-op Bank for distribution to societies and factories in form of soft loans to be recovered from sales.

This was announced by Meru Governor Kiraitu Murungi during a coffee stakeholders’ consultative forum on piloting the Ethiopian coffee industry cash model last Friday.

“We are using the pilot project from Ethiopia because the country is the top producer of the commodity in Africa, producing 700,000 metric tonnes,” he said.