The 2024 Kimalel Goat Market has raised KShs. 64.5 million following the sale of 4,300 goats at the auction in Baringo County today.

The annual event which was graced by His Excellency, President Dr. William Ruto saw at least 2,500 farmers participate at the auction, with each goat fetching at least KShs. 16,000.  All the proceeds were received by KCB Bank through the Kimalel Account, at KCB Marigat branch.

This year, the KCB Foundation supported the County Government of Baringo with a KShs. 6 million boost towards the 2024 auction planning and organization, and execution.

Speaking during the event, KCB Bank Kenya Managing Director, Mrs. Annastacia Kimtai reiterated the Bank’s commitment to supporting the livestock sector which remains a key contributor to Kenya’s economy, and improving the livelihoods of smallholder farmers.

“We have walked the journey with Baringo County for the last ten years, playing our part in supporting the annual Kimalel auction to succeed. At KCB, we are passionate about enabling our farmers to realise the full potential of their produce and particularly the livestock farmers from arid and semi-arid lands. Through our Mifugo ni Mali programme, we train them towards improving livestock productivity, value addition, financial literacy, business development and market access initiatives,” added Mrs. Kimtai.

The Mifugo ni Mali program has supported a total of 15 Farmer producer organizations and reached more than 2,000 farmers across the value chains of meat, dairy and honey in Baringo County.

The programme seeks to enhance the livestock value chain, targeting lfarmers from the Arid and Semi-Arid Lands (ASALs) in an aim to commercialise the sector and transform it into a vibrant segment where livestock producers can realise maximum returns.

It works with co-operatives and group ranches to address productivity, nutrition and husbandry challenges, business development and market linkages. They also receive financial literacy training to enable them become bankable by KCB. It targets to reach producer organisations in livestock value chain in dairy, meat, honey and fish.

The Kenyan livestock sub-sector contributes approximately 12 per cent of the national Gross Domestic Product (GDP) and accounts for 30 per cent of the country’s agricultural output. However, the livestock sub-sector has failed to develop to its full potential of a highly profitable commercial sector with high returns to the farmers due to various challenges including droughts, diseases due to open grazing, and poor breeds.

Similar to previous events, the 2024 Annual Kimalel Goat Auction aimed to provide an accessible market for farmers who have not been able to optimize returns, as well provide a networking opportunity with various livestock industry players from breeders, feeds, vets, producers and various farming input suppliers.