The IFC and Kifiya Financial Technology are partnering to deliver digital financial services to one million Ethiopian farmers. The $900,000 project focuses on enhancing cash flow and mapping farmers digitally, aligning with the Ethiopian government’s Digital Agriculture Roadmap and supported by the Gates Foundation. The initiative aims to revolutionize farmers’ financial access and productivity, thereby promoting economic growth and food security.
The International Finance Corporation (IFC) has partnered with Kifiya Financial Technology to provide digital financial services to one million smallholder farmers in Ethiopia. This initiative, termed the Digitizing Small Holder Farmers Project, will launch with a budget of $900,000 and is expected to run until June 2027. The project aims at enhancing cash flow through improved Cash in/Cash out (CICO) agents and digitally mapping farmers in crucial regions across the country.
Supporting this initiative is the Gates Foundation, and it aligns with Ethiopia’s Digital Agriculture Roadmap, which aims to incorporate digital tools into the agricultural value chain. Munir Mohammed Duri, CEO of Kifiya, remarked that leveraging their technology would significantly enhance the financial opportunities for smallholder farmers, thereby improving productivity and livelihoods through data-driven solutions.
Paula Maria Leynes Felipe, the IFC Regional Manager for Eastern and Southern Africa, noted that this partnership is pivotal for the digital transformation of Ethiopia’s agricultural sector, highlighting its potential in elevating the economic landscape and ensuring food security. The Digital Agriculture Roadmap introduced three main objectives spanning 2025 to 2032, emphasizing agricultural intelligence, financial access improvements, and establishing an enabling environment.
Some primary goals include initiating timely interventions related to crops and livestock by closely monitoring health threats and natural events. Additionally, better financial access for farmers is envisioned through sophisticated data-sharing methods aimed at aiding lenders and insurance providers. This Digitizing Smallholder Farmers initiative marks a continuation of growing efforts to digitize the agricultural sector, following a similar initiative by Agritech startup Lersha and the Ethiopian Agricultural Transformation Institute.
The collaboration between the IFC and Kifiya Financial Technology represents a significant advancement in providing digital financial services to Ethiopian farmers. With a clear focus on enhancing agricultural productivity and economic growth through technology, the initiative promises to uplift millions of smallholder farmers, thereby contributing to their livelihoods and securing the country’s agricultural future. This initiative, alongside the Ethiopian Digital Agriculture Roadmap, reflects a broader commitment to integrating digital solutions within the agricultural sector.
Original Source: shega.co
