">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Sunday, January 17, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Startups

Umati Capital receives $500,000 to boost agricultural supply chain financing for smallholder farmers

Milcah Lukhanyu by Milcah Lukhanyu
5 years ago
in Startups, Tech
4 min read
0

Kenya’s Umati Capital has received $500,000 from The Alliance for a Green Revolution in Africa (AGRA) to suport smallholder farmers in Kenya.

The $500,000 grant is to be disbursed over a 3 year period to Umati Capital  and will be channeled to it’s Supply Chain Financing (SCF) product which allows farmers to sell to more professional buyers who offer better prices but have delayed payments as opposed to selling to informal traders who pay cash on delivery but offer low prices.

According to Ivan Mbowa, Umati Capital co-founder, “Our investors see a great opportunity in the agricultural sector which contributes US$ 16.6 billion to GDP. However, the sector has a credit gap of US$1.8 billion unserved by traditional financiers. To bridge this gap, the funding will advance Umati’s goal of financing and providing associated technology to increase the productivity for smallholder farmers.”

With this funding, smallholder farmers can streamline their cash flow and receive much needed financial cushion during the waiting periods. AGRA’s grant to Umati Capital aims to reach over 50,000 smallholder farmers with a Supply Chain Financing product that seeks to increase farmers’ productivity and net income over the next three years.

“Agriculture is the next installment of the Africa rising narrative. However, access to finance continues to be a major hindrance. We believe that through public-private partnerships and engagements such as this partnership, we can support farmers to contribute to economic growth by linking them to better and less risky finance options such as Umati Capital’s SCF product,” said Dr. Agnes Kalibata, AGRA president.

READ  Game of Thrones Season 7: Hundreds of thousands of fans live-streamed ice melting to reveal premier date.

“We are grateful to our friends at the MasterCard Foundation who have made this possible through the Financial Inclusion for Smallholder Farmers in Africa Project implemented by AGRA,” Dr Kalibata added.

The Supply Chain Financing product will allow a smallholder farmer (supplier) to access 80% of the invoice value at any time before the supplier is paid by the buyer in full. Umati Capital can process the SCF loan without additional requirements of collateral in near real-time after sale or within 24-48 hours. Repayments are received directly from the buyer on behalf of the supplier with funds being transferred via integration with bank or mobile money systems.

Related posts

Adam Molai’s JUA Kickstarter Fund Doubles to $2M to Kickstart African Entrepreneurship

January 15, 2021
0

History of Binance: The Success and Failure of One of the Most Popular Cryptocurrency Exchange

January 15, 2021
0

How to fuliza by Safaricom guide

January 15, 2021
0

ASUS debuts new ZenBook Duo | Pro Duo, VivoBook, ExpertBook and Chromebook laptops at CES 2021

January 15, 2021
0

 

Readers 1,570

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

Related Posts

Entrepreneurship

Adam Molai’s JUA Kickstarter Fund Doubles to $2M to Kickstart African Entrepreneurship

January 15, 2021
0
cryptocurrencies

History of Binance: The Success and Failure of One of the Most Popular Cryptocurrency Exchange

January 15, 2021
0
How To

How to fuliza by Safaricom guide

January 15, 2021
0
Tech

ASUS debuts new ZenBook Duo | Pro Duo, VivoBook, ExpertBook and Chromebook laptops at CES 2021

January 15, 2021
0
signal-apps
Tech

Is Signal That Different From WhatsApp? Here Are 5 Ways It May Be Different

January 15, 2021
0
Tech

Between WhatsApp, Facebook And Signal Which Platform Collects More Personal Data?

January 15, 2021
0
Tech

HTML5 Tech Takes Over from Flash to Advance E-Sports Industry

January 15, 2021
0
Startups

Nigeria’s TeamApt pivots to serve consumers, eyes expansion into West & North Africa

January 14, 2021
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

realme to release more phones in 2021 to grow its smartphone market share

January 16, 2021

What You Need To Know To Manage Your Network Effectively

January 16, 2021

Baidu establishes an Intelligent electric vehicle arm to bring autonomous cars on a road near you

January 15, 2021

Adam Molai’s JUA Kickstarter Fund Doubles to $2M to Kickstart African Entrepreneurship

January 15, 2021

History of Binance: The Success and Failure of One of the Most Popular Cryptocurrency Exchange

January 15, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: