Access to credit by African smallholder farmers remain a key issue. In Ghana, rural farmers continue to face increasing bottlenecks in credit access due to their uneven cashflows and the two-prong issues of: high lending rate regime by financial institutions averaging 27.5% and high productivity cost at the farm production level.
At a symposium on financing smallholder farmers at the recently ended AGRF forum 2019 in Accra, the co-founder and CEO of mfarmpay Inc. Elorm Allavi, speaking on a panel, shared how we are leveraging Remote Sensing (RS), geospatial data and climate metrics to unlock financing towards African farmers.
mfarmPay is providing a seamless loan origination, proprietary credit scoring model, and payment infrastructure to increase the reach, quality, and affordability by derisking financing for financial institutions, and commercial agri-lenders for African smallholder farmers at scale.
Support to Rural Young People:
mfarmpay Inc. service has special rural youth targeting in its digital financial service deployment in Africa. We have the conviction African youth are already digitally savvy and simply requires technology leverage and financing push to enrich their creativity.
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