Agriculture, Economic Growth and Trade, Financial Sector & Investment and 4 MoreSEE MORE
Agriculture, Economic Growth and Trade, Financial Sector & Investment, Digital Finance, Digital Inclusion & Connectivity, Data/Analytics and TechnologySEE LESS
There is a $450-billion financing gap for smallholder farmers. Though agriculture accounts for ~65% of employment and ~32% of GDP, less than 6% of commercial loan recipients are smallholder farmers. FarmDrive uses data analytics and mobile technology to create financial profiles for farmers through a credit scoring model. With these profiles, they are more likely to receive loans from financial institutions.