By Faridat Salifu
In a bid to address the pressing challenge in access to financing agricultural inputs among small-scale farmers in Kenya, an agri-tech company is spearheading a transformative project.
The Fertiliser Financing for Sustainable Agriculture Project, launched recently is set to revolutionize the landscape of smallholder farming in the country, it was learnt.
Administered by the African Fertilizer Financing Mechanism (AFFM), a specialized fund under the auspices of the African Development Bank (AfDB), this project, according to reports, aims to bolster agricultural productivity and uplift rural livelihoods. Kenyan agritech trailblazer, Apollo Agriculture, has been entrusted with the implementation of this groundbreaking initiative.
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Supported by a partial commercial credit guarantee of USD 2 million and a grant of USD 219,000 from the AFFM, along with a contribution of $25,000 from Apollo Agriculture, the project is poised to inject nearly $2.25 million into sustainable agricultural practices in Kenya.
Central to the project’s objectives is the distribution of 7,928 tonnes of organic fertiliser to 106,000 smallholder farmers across the country over the next two years. Utilizing its innovative digital platform, the Apollo Checkout App, the company aims to streamline the process of accessing agricultural inputs for farmers, ensuring efficiency and accessibility.
Moreover, the project will extend beyond fertilisers, providing farmers with certified seeds, crop protection products, soil health management services, and insurance against crop losses. With a strong focus on gender inclusion, at least 50% of the beneficiary farmers targeted will be women, reflecting the project’s commitment to promoting gender equality in agriculture.
Through a credit guarantee mechanism facilitated by Apollo Agriculture’s machine learning-based credit models, small-scale farmers will have access to finance, enabling them to procure essential agricultural inputs on credit. This innovative approach seeks to empower farmers and unlock their potential to maximize productivity and profitability.
Aligned with the AfDB’s overarching strategy for Africa’s agricultural transformation, the project embodies a concerted effort to eradicate hunger and rural poverty, laying the foundation for sustainable development and prosperity in Kenya’s agricultural sector.
