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KCBL dishes out Sh28bil loans to coffee farmers

Source: The Citizen Newspaper

KCBL Offices in Moshi town. CREDIT: The Citizen Newspaper

Kilimanjaro Cooperative Bank Limited (KCBL) has managed to give cash loans worth Sh. 28 billion to coffee farmers since it introduced a warehouse receipt system in 2002.

The bank, which is owned 100 percent by the indigenous and is the first cooperative bank in the country, was launched in 1996 by the retired president of the third phase administration, Benjamin Mkapa.

Speaking over the bank’s achievements, the KCBL General Manager, Mr. Joseph Kingazi said the loans were dished out in the 2016/2017 farming season to the farmers of coffee, which is the main cash crop.

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