The IFC and Kifiya have initiated a partnership targeting one million smallholder farmers in Ethiopia to provide digital financial services. Their $900,000 Digitizing Smallholder Farmers Project will improve Cash in/Cash out services and create digital farmer profiles by 2027. This aligns with Ethiopia’s Digital Agriculture Roadmap, supported by the Gates Foundation, to enhance agriculture through digital technology.
The International Finance Corporation (IFC) and Kifiya Financial Technology have partnered to deliver digital financial services to one million smallholder farmers in Ethiopia through the Digitizing Smallholder Farmers Project. The initiative, backed by a $900,000 budget, aims to enhance the quality of Cash in/Cash out (CICO) agents and digitally map farmers in key regions by June 2027.
This project aligns with Ethiopia’s Digital Agriculture Roadmap, which promotes the adoption of digital tools across the agricultural value chain, and is supported by the Gates Foundation. Munir Mohammed Duri, CEO of Kifiya, noted that leveraging Kifiya’s technology will improve access to financial services, boost productivity, and enhance farmers’ livelihoods.
Kifiya has previously utilized AI-powered systems to facilitate uncollateralized loans and provide digital agricultural solutions. Paula Maria Leynes Felipe, IFC’s Regional Manager, emphasized that this partnership is pivotal for the digital transformation of Ethiopia’s agriculture, enhancing the economic prospects and food security of smallholder farmers.
Ethiopia’s Digital Agriculture Roadmap, launched in early February, outlines a seven-year strategy (2025-2032) focusing on agricultural intelligence, improved financial access, and the establishment of a supportive environment for digital agriculture. The roadmap envisions using data to improve interventions related to diseases, weather events, and pest outbreaks.
This initiative is part of a broader trend, following Agritech startup Lersha’s partnership with the Ethiopian Agricultural Transformation Institute to digitize smallholder farmers, creating digital profiles and developing frameworks for efficient service distribution across diverse agricultural value chains.
The partnership between IFC and Kifiya marks a significant advancement in providing digital financial services to smallholder farmers in Ethiopia. By utilizing digital tools and AI technology, this initiative aims not only to improve the livelihoods of these farmers but also to contribute to the broader goals of economic growth and food security in the country. Such collaborative efforts are essential in revolutionizing Ethiopia’s agricultural sector and supporting its digital transformation goals.
Original Source: shega.co
