Ministry officials said the government officials, farmers, SHGs and farmers producers’ organisations were enthusiastic about the various opportunities that the food processing sector would bring to the region.
Farmers need reliable credit, not necessarily the most credit in good times. A Kiwibank rural portfolio is likely to be a longer term, better managed book of business, because rural lending will simply matter more to Kiwibank than it does to the BNZ's masters in Melbourne. Rural towns with Kiwibank or BNZ branches will likely see them stay longer too, because the combined entity will have scale, and will be New Zealand-owned. Australian-owned banks care much less about closing a branch in New Zealand than in their own country. Kiwibank will be more sensitive to closing branches in its home country, too.
"This is the result of the effort we made to support our farmers through the downturn and shows the resilience of the sector," he said.
While the agreement could help some farmers and other industries sell into and invest in Kenya, it is unlikely to have much influence on the American economy overall. Kenya is the United States’ 98th-largest trading partner in goods, with $1 billion in two-way trade in 2018, according to the Office of the United States Trade Representative. Kenya’s biggest American imports include aircraft, machinery and agricultural goods; the United States buys Kenyan apparel, tree nuts and coffee.
Similarly, Shanghai Maling invested in Silver Fern Farms in 2016 at a time when the company was under significant financial pressure. Just last week it was announced that Yili had signed a conditional deal to acquire Westland for $588 million. Westland ran a competitive process and Yili made the most compelling offer to Westland and its farmers.