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African Rural and Agricultural Credit Association (Afraca)

est. 1977


African Rural and Agricultural Credit Association (Afraca)

The African Rural and Agricultural Credit Association (AFRACA), established in 1977, is a regional Association of Sub-Saharan financial and non-financial institutions involved in rural and agricultural development in the region.

AFRACA was registered in Kenya under the NGOs Coordination Act in 1981 and in 2003 received diplomatic status from the Kenyan government. The concept of Regional Agricultural Credit Associations (RACAs) originated from the FAO sponsored Regional Seminar on Agricultural Credit for Small farmers held in Accra, Ghana in 1973.


AFRACA’s mains objective is to build a strong and sustainable regional network of banks and microfinance institutions that provide opportunities for learning amongst members and promote rural and agricultural finance in Africa. AFRACA aims to:

  • Foster cooperation in planning and improving financial inclusion for agricultural development in the continent
  • Facilitate promulgation of policy and legal frameworks for rural financial services development in AFRACA member countries
  • Enhance the management, outreach, products and performance of AFRACA’s member institutions
  • Establish a machinery for exchanging information and knowledge on sustainable rural and agricultural financial services provision in Africa
  • Initiate and support multi-country studies on issues of common interest and undertake such other activities as may be conducive to the fulfillment of the objectives of AFRACA
  • Seek to interest local and international investors in opportunities for investment in rural and agricultural sectors for accelerated economic growth in the continent
  • Facilitate demand driven training programmes for staff of member institutions and facilitate institutional capacity building through the exchange of personnel/experts within and outside the network
  • Strengthen its capacity to provide effective services to its members on a financially sustainable basis and to build the network to be a strong advocate of rural and agricultural finance policy in Africa
  • Create greater synergy through partnerships with local and international development partners working in the sector
  • Encourage member institutions to build the financial and managerial capacities of rural poor as part of their social cooperate responsibilities