The IFC and Kifiya Financial Technology have partnered to digitize financial services for one million Ethiopian farmers by 2027. This initiative aims to enhance CICO services and farmer profiling, supported by the Gates Foundation and aligning with Ethiopia’s Digital Agriculture Roadmap. Such developments promise economic growth and improved livelihoods for farmers.
The International Finance Corporation (IFC) has collaborated with Kifiya Financial Technology to enhance digital financial services for one million Ethiopian smallholder farmers. The initiative, dubbed the Digitizing Smallholder Farmers Project, is set to be implemented with a budget of $900,000 through June 2027. Its primary objectives focus on improving the Cash in/Cash out (CICO) agent system and creating digital profiles for farmers in targeted regions of Ethiopia.
Supported by the Gates Foundation, this project aligns with Ethiopia’s Digital Agriculture Roadmap aimed at integrating digital tools throughout the agricultural value chain. Munir Mohammed Duri, CEO of Kifiya, remarked that leveraging this technology will foster financial opportunities, thereby enhancing farmers’ productivity and livelihoods.
The partnership represents a crucial advancement in the digital transformation of Ethiopia’s agricultural sector, as highlighted by Paula Maria Leynes Felipe, IFC Regional Manager. This transformational initiative not only aims to uplift smallholder farmers but also contributes to national economic growth and food security.
Ethiopia’s Digital Agriculture Roadmap outlines its vision for the future of agriculture through three primary goals during the upcoming years (2025-2032), focusing on agricultural intelligence and improved financial access. These efforts envision integrating timely interventions that monitor agricultural health and data-sharing systems to enhance financial services for farmers.
Moreover, the Digitizing Smallholder Farmers initiative follows another recent project by Agritech startup Lersha, which similarly aimed to provide digital solutions to smallholder farmers by creating digital profiles and establishing a framework for digital agricultural services.
This amalgamation of efforts illustrates the growing commitment towards digitizing agriculture in Ethiopia, exploring pathways for sustainable growth and innovation in the sector.
In summary, the partnership between the IFC and Kifiya signifies a pivotal movement towards modernizing the agricultural landscape in Ethiopia. By digitally equipping one million smallholder farmers and enhancing financial access, this initiative is poised to elevate productivity—ultimately contributing to the broader economic development of the nation. Continued collaboration and implementation of digital strategies remain imperative to achieving these ambitious goals.
Original Source: shega.co
