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Sep 22, 2016 5:03 EST

Ghana: Farmerline – A loan of $50,000 helps to expand affordable financing for 500 cocoa farmers in Ghana.

iCrowdNewswire - Sep 22, 2016

Farmerline

Ghana
 
Accra, Ghana / Agriculture
 
Borrower image
 

Farmerline’s story

 

Farmerline is a Ghanaian social enterprise working to transform the lives of millions of farmers. The company deploys mobile and web technologies that brings farming advice, weather forecasts, market information, and financial tips to farmers who are traditionally out-of reach due to barriers in connectivity, literacy, and/or language. In the past 3 years, Farmerline has impacted over 200,000 farmers across 5 countries in Africa.

Lack of affordable financing for cocoa farmers in Ghana inhibits their productivity and, in turn, makes it more difficult for them to earn sufficient income and withstand adverse economic shocks (e.g. illnesses, poor growing season, natural disasters, etc.). This problem stems in part from a lack of data on individual farmers (to establish creditworthiness), as well as the relatively high cost of servicing them in rural areas, both of which have discouraged traditional financial service providers like banks and microfinance institutions from extending financial services to farmers.

With technical support from Bankable Frontiers Associates & MasterCard Foundation and your Kiva support, Farmerline plans to create a credit-scoring product that will enable Cocoa Purchasing Clerks to provide cash advances to at least 500 cocoa farmers. 

This loan is special because:

This loan is special because it enables smallholder farmers in rural Ghana to access IT & financial services 

Carlos
Kiva staff 

More about this loan

This loan is part of the Direct to Social Enterprise program, it has no Field Partner intermediary. For more information, please see the Direct to Social Enterprise blog.

About N/A, Direct to Farmerline:

The direct to social enterprise program is a pilot program that aims to raise capital for social enterprises in a new and more efficient way. Social enterprises have the potential to strengthen their communities and reduce poverty by expanding formal employment, scaling innovative social solutions and driving sustainable economic growth. Through this pilot, Kiva will explore whether it can reach more social enterprises and lower operational costs (for the social enterprise and for Kiva) by facilitating lending directly, without a Field Partner

A loan of $50,000 helps to expand affordable financing for 500 cocoa farmers in Ghana.

Contact Information:

Farmerline

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