At least 1,000 smallholder maize farmers in Embu County, Kenya, will benefit from a new partnership between Family Bank and DigiFarm. The partnership will provide farmers with access to digital credit for inputs and insurance, as well as training on sustainable agricultural practices, market linkage, and financial literacy.
The farmers, who are all based in Mbeere North and South sub-counties, will receive financing depending on acreage size and crop cycle. They will also be able to redeem their credit vouchers to receive farm inputs from DigiFarm partner agrovets in the county.
The partnership is expected to help farmers increase their production and profitability, as well as make them more resilient to climate shocks such as droughts and diseases.
“We are confident that through this partnership we will not only improve farmers’ financial resilience to these shocks but through technology we will reduce their costs and improve profitability that will help break the cycle of low investment and low returns,” said Family Bank Lead Digital Transformation Aristarichus Kuria.
“Digifarm will continue to leverage technology and partnerships to reduce the financing gap faced by smallholder farmers, and drive climate resilient solutions,” said Seema Gohil, Director, Digifarm. “Through our platform, farmers are able to access a full range of services to drive production improvements. 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.”
The partnership is also expected to benefit farmers in Meru County, where it will be extended to sorghum farmers.
The partnership is part of a program spearheaded by the International Food Policy Research Institute to assess whether innovative insurance products can increase access to finance by smallholder farmers.
