Farmers.ng is a full-stack challenger bank offering digital and offline financial, insurance, extension, and storage services to smallholder farmers while facilitating access to farm inputs and markets for their produce.
Africa’s dire agricultural sector is in urgent need of structured value chain finance.
At the cusp of a global food crisis, heightened by the covid-19 pandemic and further exacerbated by the Russia-Ukraine conflict, heatwaves and droughts, countries are restricting food exports causing inflationary and supply pressures, even as population growth outpaces local food production.
The largest market in Africa with a population of 220 million people
Food items account for 57 percent of total household expenditure
Food imports consume USD 5 billion of valuable foreign exchange
USD 140 million is spent daily on food consumption
The sector contributes about 23 percent to overall GDP in real terms and employs 48 percent of the labour force
Agriculture
Oil and Gas
Education
Communications
Trade
Agriculture
Oil and Gas
Education
Communications
Trade
Low penetration of financial services especially in rural farming communities
Low yields, mechanization and subsistence scale
Constraints in accessing quality inputs
Fragmented agri-food value chains
Ancient food production systems
Traceability challenges
Post-harvest losses
Linking, coordinating and financing producers, processors, traders, distributors and markets
Structuring efficient and scalable production, processing and storage infrastructure
Utilizing idle manufacturing, agribusiness and agro-processing capacity
Adopting precision, data and advisory driven farming systems
Ecosystem and value chain approach
Technical support
Social Impact
Farmers makeup 80 percent of the world’s poor, live in remote areas, and lack access to basic agricultural inputs and know how. Our initiative seeks to the global goals of eradicating rural poverty and achieving food security and sustainable growth by enhancing farmer productivity and income levels through sustainable intensification of production, better organization, adequate support services, access to credit and integration into agri-food value chains.
Environment
Carbon capture through agroforestry programmes
Nutrient recycling from organic waste
Smart land and water management
Paperless and green banking
Social
Creating real sector jobs
Improved farmer livelihood and soil productivity
Dissemination of genetically improved seedlings
Out-grower programmes with smallholder farmers
Agricultural training for unemployed youth and women