$1 Million Agri-Wallet
USD 1 million for Kenyan farmers Agri-Wallet project
Nairobi, August 6, 2018
Dodore, the company behind the Agri-wallet, in cooperation with SNV, has been designated to receive support from the Mastercard Foundation Fund for Rural Prosperity (FRP) to expand its activities. Dodore and SNV will be introducing the Agri-wallet to Kenyan farmers who are part of SNV’s HortIMPACT project. As a result of this award, an additional 37,500 smallholder farmers in Kenya are expected to gain access to agricultural finance, empowering them to increase production and income.
The Agri-wallet is an innovative blockchain-based mobile app that helps farmers to set aside funds for earmarked input-tokens, enabling access to financial products and services. Agri-wallet will contribute to financial inclusion and stimulate sustainable agricultural production in East Africa. Farmers within HortIMPACT will more easily and safely be able to buy the high-quality seeds and fertilizer needed for sustainable, inclusive, climate-proof horticulture.
Sijmen de Hoogh, co-founder and director of Dodore: "With this funding we can offer many farmers access to finance. By expanding the Agri-wallet through the HortIMPACT program, we empower smallholder farmers to improve their lives and their communities. To achieve our goals, much more funds will be needed, but with this one-million-dollar award we can make a big impact".
Chantelle Reynolds, Program Manager at the Mastercard Foundation, said "we created the Fund for Rural Prosperity to provide financial services to people living in poverty in rural parts of Africa. Through the Fund we expect to reach more than one million farmers and their families with savings, credit, and insurance services. We believe the Agri-wallet project from Dodore and SNV is an idea that can make a major contribution to improving the lives of smallholder farmers in Kenya".
Dodore Kenya Ltd, a fintech company in Nairobi, has developed and implemented innovative financial solutions since 2013. Dodore Kenya empowers smallholder farmers and other vulnerable people (women and youth) with access to finance in earmarked wallets. Dodore developed the Agri-wallet, an innovative service based on blockchain technology for farmers to have access to full financial inclusion. For more information please visit www.dodore.co.ke or www.agri-wallet.com.
SNV is a non-profit organization that contributes to eliminating poverty through increased income and access to basic services. SNV’s global team of experts in Agriculture, WASH and Energy implements projects at scale. Our long-term, local staying power in 26 developing countries in Asia, Africa and Latin America enables us to kick-start markets, strengthen institutions, and establish conducive legal and policy environments. For more information please visit www.snv.org.
To download Dodore’s press release click here.