A lack of identity denies farmers access to the first step towards financial inclusion: a transaction account. This in turn results in farmers having very little record of their financial transactions, assets and liabilities. The end result is that a lack of data limits these farmers’ ability to access credit from traditional financial institutions; credit which would be used to purchase much needed certified farmer inputs, and tools for mechanization.
Give small holder farmers across Africa and the Caribbean access to broader financial inclusion by providing them with a means of identity through a scannable smart card. Attached to the smartcard are the following forms of data: biometric data, financial data, asset/ownership data and transaction history within the agricultural ecosystem. Through use of this smartcard every step of the product journey is recorded, providing farmers with a reliable history/identity and service providers with a reliable KYC database that can be used to ascertain credit worthiness and mitigate risk.