Equity Bank and Care International have jointly launched a new credit facility targeting livestock traders and ranchers in Kenya.

Mifugo Biashara seeks to provide affordable credit to livestock traders who will provide market outlet for pastoralists in order to boost their income and uplift their standard of living.

The facility will be used by livestock traders to purchase livestock, and later sell them to established processors such as Kenya Meat Commission. This arrangement is envisaged to address the challenge of access to market which has been a major drawback to livestock business on the part of pastoralists and traders.

The amount of money advanced is pegged on an individual's requirements and ability to repay. The loan repayment period is up to 12 months.

The launch of Mifugo Biashara comes after the successful launch of Kilimo Biashara, a Ksh3 billion credit facility to assist small scale Kenyan grain farmer's access affordable credit.