Unlocking access to credit for smallholder farmers
50 Million Smallholder Farmers
There are 50 million smallholder farmers in Africa, many of whom are struggling to support their families and communities through agriculture. They have little access to credit and are therefore unable to purchase quality inputs and improve their production and harvests.
FarmDrive has built a simple, but powerful mobile phone application that connects smallholder farmers to financial institutions and allows them to access critical financial services.
$425 Billion Financing Gap
Although agriculture accounts for 65% of employment and 32% of GDP in Africa, less than 6% of commercial loan recipients are smallholder farmers. Financial institutions are wary of lending to farmers because of the inherently risky nature of agriculture, and their lack of efficient and accurate methods for assessing this risk. This contributes to the global agriculture financing gap of nearly $425 billion.
FarmDrive provides financial institutions with credit profiles, tailored loan products, and digital solutions to manage the loan process, so that they may reach the previously untapped market of smallholder farmers.
Pius Mitei is one of FarmDrive's young farmers. Pius gained access to credit through FarmDrive's platform and started a highly successful chicken business. He is now on his second loan cycle and works as a leader in his community, sharing his positive experience with FarmDrive.
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Phone: +254 795 518 442