Digital technologies helping farmers access finance

#GrowEntrepreneurs #TransformFood

In February, Generation Africa and VC4A launched a bi-monthly webinar series to address different topics in the food value chain with specific focus on youth agripreneurs. In this second webinar series, we will take a topical deep dive into some of the digital technologies helping smallholder farmers access finance with focus on existing challenges young agripreneurs face while securing funding for their business, and some of the existing programs that support youth agripreneurship.

GoGettaz finalists Tafadzwanashe Gavi, Founder Umojalands systems, Zimbabwe and Daniella Kwayu, Founder Phema Agri, Tanzania will be present to share insights on their innovations which are providing microfinance and insurance services to farmers, their business model and how they are de-risking the agri-food value chain.

Specifically, the webinar on April 13 at 2.30pm EAT, 1.30pm CAT, 12.30 GMT will aim to:

  1. Showcase some of GoGettaz digital technologies helping farmers access finance.
  2. Promote knowledge sharing and learnings on successful models of financing youth in agribusinesses.
  3. Announcement of 2023 GoGettaz Agripreneur Prize Competition and tips on how to make your application stand out.

Participants in the webinar will include key stakeholders from private and public sector, development agencies, governments, producer organizations, civil society, academia, and research institutions who are working with the youth.

Access to credit is one of the major barriers for youth agripreneurs. Farmers need access to seed capital to purchase farming inputs or other key equipment as well as expand markets leading to increased agricultural production. However, the 2021 World Bank Global Findex publication reveals there is still a substantial gap in financial inclusion between youth and adults.

Young farmers continue to decry existing challenges in securing finance from formal financial institutions due to stringent rules, lack of collateral security and preference to short-term lending yet agriculture investments have long gestation periods. Agriculture is also considered a risky venture because it is vulnerable to climate shocks and lending to youth is also perceived as risky because they are new entrants into business and do not have an established credit history.

Today, innovative digital technologies for agriculture (D4Ag) have revolutionized the sector with provision of financial services, advisory services, market linkages, supply chain management and agricultural data using the mobile phone. All these services are interlinked as they act as a “one stop
shop” to assist farmers with digital solutions in the agri-food value chain. These technologies mostly developed by youth are preferred because they are cost-effective, have a wide outreach even in rural areas and enhance efficiency hence serving as a powerful driver for youth to engage in agribusiness.

Up to 390 active D4Ag companies across 43 sub-Saharan African countries were registered in 2019, with the total number of users reaching 33 million smallholders and pastoralists according to a report from the African Technical Center for Rural and Agricultural Cooperation.

Do not miss this exciting and engaging webinar! Register now


April 13, 2023
Organizer GoGettaz
Targets Africa
Agribusiness, Business services, Clean technology and energy, Environmental services, Utilities, Financial services, Adtech, Agritech, Artificial intelligence, Big data, Biotechnology and medical research, Blockchain, Cloud solutions, Computer games, Computer software, Connectivity, Construction and manufacturing, E-commerce, E-learning, E-sports, EdTech, Fintech, Healthcare, HealthTech, ICT, Information technology, Internet, Internet of things (IoT), Machine learning, Manufacturing, Mobile, Nanotech, New media, Online analytics, Online payment processing, Packaging, Quantum computing, Smart city solutions, Software as a Service, Telecom, Virtual reality
SDG (17) All