Chase Bank at International Flower Trade Expo 2014
The Kenyan Flower Industry is one of the fastest growing industries in Kenya and a major supplier in the international flower market. At Chase Bank, our contribution to the sector is taking a special interest to understand the industry and offer relevant financial solutions and partnering with suppliers to the flower growers (Click To Tweet).
Facts on the Sector (sourced from the Kenya Flower Council Website)
- Agriculture sector contributes 22% of GDP out of which 1.6% is from the flower industry.
- Kenya is the lead exporter of rose cut flowers to the European Union with a market share of about 38%.
- The main production areas are around Lake Naivasha, Mt. Kenya, Nairobi, Thika, Kiambu, Athi River, Kitale, Nakuru, Kericho, Nyandarua, Transzoia, Uasin Gichu and Eastern Kenya.
Chase Bank Kenya Representatives at IFTEX.
Background of the International Flower Trade Expo (IFTEX)
IFTEX (Click To Tweet) is an annual trade expo specifically designed for the flower growers to exhibit their produce and make contact with buyers sourcing for flower suppliers. This year it takes place in the auditorium of the Oshwal Center. The buyers travel from all main flower consuming nations and continents, such as Europe, Russia, USA, Middle East, South East East and Africa. In addition to the flower growers, the exhibition also attracts companies in floriculture value chain i.e. breeders, propagators, growers, cargo/transport suppliers to flower Industry. This years’ IFTEX will attract 45 percent more exhibitors, with Chase Bank being one of them (Click To Tweet). As Chase Bank, our target client for the IFTEX show are the exhibitors with a special focus on flower growers who are exhibitors at the show (Click To Tweet).
This tri-folding is a sign that Kenya is not only leading in growing (35 percent of the world’s demand) but also starting to lead in trading. The Financial Services we offer to the sector include (Click To Tweet);
- Innovative and tailor made foreign exchange solutions.
- Financing investments in maintenance and replacement of existing facilities (i.e. investments in new greenhouses and machinery).
- Financing expansion of acreage (i.e. investments in land, greenhouses, plants, plastic covering and financing the working capital). This is in partnership with Amiran Kenyathrough the Amiran Farmers Kit.
- Pre-financing of royalty payments