This is a quick introduction to what AgriFi is all about and it’s impact on the Agricultural ecosystem. Here’s everything you need to know.
AgriFi is an initiative founded by Toronet working with USAID and several other partners, with the aim of bridging the gap between smallholder farmers and financial resources. By providing medium to long-term financing, AgriFi creates a positive ripple effect across the agricultural sector. Here are 5 key impacts of AgriFi:
1. Financial Inclusion: Smallholder farmers often lack access to credit, hindering their ability to invest in better seeds, fertilizers, and equipment. AgriFi helps financial institutions reach these farmers, providing them with the capital they need to grow their businesses.
2. Increased Productivity and Income: With access to financing, farmers can invest in improved agricultural practices, leading to higher yields, better quality crops, and an increased income.
3. Sustainable Practices: AgriFi prioritizes investments that promote environmentally friendly practices. This encourages farmers to adopt techniques that conserve soil health and water resources, ensuring long-term sustainability.
4. Food Security: By supporting increased agricultural production, AgriFi contributes to a more stable food supply.
5. Job Creation: A thriving agricultural sector creates a domino effect, leading to job opportunities in related industries like transportation, storage, and processing.
Agrifi just completed a pilot program at the end of 2023 with 100 farmers. The video below provides a summary of the results of the pilot. The next season is starting in a few weeks.
