CGAP and FarmDrive Announce Partnership for Satellite-Based Credit Assessments for Smallholder Farmers

NAIROBI, KENYA, September 15, 2016 – Today, the Consultative Group to Assist the Poor (CGAP) and FarmDrive announced their partnership to explore the use of satellite-based imagery to help predict and solve the financial needs of smallholder farmers.

In Africa, there are an estimated 50.6 million smallholder farmers. Although the agriculture sector employs 65% of Africans and accounts for 32% of Africa’s GDP, only a small percentage (5.8%) of commercial lending goes to this important sector. There is also a gap in understanding the financial needs of smallholder farmers who are often marginalized and impoverished.

FarmDrive – an organization founded by Rita Kimani and Peris Bosire, who grew up in smallholder households in Kenya and witnessed some of the key challenges their families and communities faced in agriculture – harnesses the power of mobile phones and agricultural datasets to develop income-predictive algorithms, credit profiles, and tailored financial products for smallholder farmers.

Read more