One thousand smallholder maize farmers in Embu County are set to access digital credits for farm inputs and insurance.
This is following a partnership between the Family Bank and DigiFarm.
The program, launched in Mbeere North and South sub-counties, will allow farmers to borrow funds digitally.
The farmers will then receive financing depending on acreage size and crop cycle, with a maximum acreage set at two acres.
Additionally, farmers will benefit from insurance solutions and be trained on sustainable agricultural practices, market linkage, and financial literacy.
Did you read this?
Speaking during the signing of the deal, Family Bank Lead Digital Transformation Aristarichus Kuria noted that despite the high vulnerability to the impacts of climate change and market inefficiencies, farmers continue to face a lack of access to efficient and convenient funding to buy essential farming products.
“However, technology adoption and such multisector partnerships are increasing financial inclusion, especially for smallholder farmers,” Kuria said.
In the deal, registered farmers can redeem credit vouchers to get farm inputs from DigiFarm’s partner agrovets in the county.
On his part, DigiFarm Director Seema Gohil promised to transform agriculture in the area through technology.
“Through our platform, farmers are able to access a full range of services to drive production improvements,“ Gohil said.
“They receive agronomy advice, credit for inputs, insurance and other services and can then connect with buyers during harvest. We are committed to transforming the agriculture sector through technology.“
