{"id":1119,"date":"2017-05-04T22:39:41","date_gmt":"2017-05-04T22:39:41","guid":{"rendered":"http:\/\/www.esaff.org\/?p=1119"},"modified":"2017-05-04T22:39:41","modified_gmt":"2017-05-04T22:39:41","slug":"treat-local-agri-investors-fairly-lower-interest-rates-eala-mp","status":"publish","type":"post","link":"https:\/\/esaff.org\/index-php\/treat-local-agri-investors-fairly-lower-interest-rates-eala-mp\/","title":{"rendered":"Treat Local Agri-Investors Fairly; lower Interest Rates\u2013 EALA MP"},"content":{"rendered":"

East Africa member States government should give priority to local investors if agriculture is to thrive in the region.<\/p>\n

At the same time, ensuring an environment of affordable borrowing for farmers is an important key to make the sector transform more lives for the good.<\/p>\n

Contributing to the resolution of the EALA on the domestication of the Malabo Declaration on agriculture in the EAC Hon. Susan Nakawuki<\/strong> (Uganda) lamented that there was a tendency of favouring\u00a0\u00a0 international or foreign investors at the expense of\u00a0 local investors.<\/p>\n

\"Hon<\/a>Foreign investors are given incentives like free land, tax exemption, among others but local investors are left to toil on their own, she lamented.<\/p>\n

She urged the Chair of the community, Council of Ministers, to ensure that local investors are given the attention and priority as advocated by the Malabo protocol.<\/p>\n

Hon. Nakawuki<\/strong> also voiced concerns that\u00a0 the interest rate charged by commercial banks in the region were too high for local farmers.<\/p>\n

\u00a0\u201cWhen you borrow money from the bank, they charge you interest from the first day and when the season is not the best, they will end up taking your collateral which is usually your land… you might end of remaining with nothing,\u201d she noted in dismay.<\/p>\n

She said Kenya has shown the way in putting a ceiling for borrowing (interest) rates charged by banks. She suggested that other EAC member states should follow suit especially on loans for promoting agriculture.<\/p>\n

The MP noted that it was important for members of the public to be educated about\u00a0 agriculture to increase participation as a way of Improving livelihood.<\/p>\n

She lamented about stereotype of farming being for the poor which was widespread. \u201cThis has caused some young people to sell their\u00a0 land (inherited) and go into the cities to run other business like boda boda.\u00a0 If the boda boda is stolen or breaks down all their\u00a0 hopes go down the drain.\u201d<\/p>\n

Hon. Nakawuki asked the council of ministers in the EAC to seriously address arable land issue in the region. She appreciated Tanzania for jealously guarding\u00a0 her land against exploitation by foreigners.\u00a0 She was of the opinion that land in EAC should be not be sold to foreigners at the expense of local communities, who might be left stare at hunger.<\/p>\n","protected":false},"excerpt":{"rendered":"

East Africa member States government should give priority to local investors if agriculture is to thrive in the region. At the same time, ensuring an environment of affordable borrowing for farmers is an important key to make the sector transform more lives for the good. Contributing to the resolution of the EALA on the domestication… <\/p>\n

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