In Africa alone, nearly 850 million people or 70% of the population rely on small scale farming for their livelihood and smallholder farmers (SHFs) produce around 80% of the food that we consume. However, a majority of SHFs still live on under $2 a day. GFM is an AgriTech solutions provider enabling access to market and finance for SHFs through a digital platform that replaces traditional pen and paper management systems. GFM is revenue positive, has over 8,800 farmers in the system, over 60,000 commercial transactions recorded, and has clients across 4 countries. GFM facilitates more efficient management and a transparent value chain allowing more subsistence farmers to earn an income. By inputting commercial exchanges, a credit record is built for the farmers. GFM launched an enhanced SaaS platform version of the system to lower the barrier of entry, increase competitiveness, and decrease the timeline for on-boarding new clients allowing GFM to be more scaleable, impactful and profitable.
GFM is working to pilot third-party loans to small farmers through enabling and tracking micro-credit from MFIs and other financiers dispersed through GFM’s agribusiness clients as inputs on credits.