EzyAgric, an agtech company that integrates ICT in the delivery of production and marketing services to farmers and value chain digitization to agribusinesses has partnered with Kenyan fintech Pezesha to offer a new product that brings Buy Now Pay Later services to agro-inputs merchants all over Uganda.
The patrnership will enable agro-inputs distributors working with EzyAgric to apply for inventory financing in the form of short-term credit to buy genuine and affordable inputs stock right when they need it and pay for it later.
With just-in-time financing, our merchants are able to access instant working capital and increase their inventory numbers as farmers start to get ready for the new season in Uganda.
George William Luyinda, CEO of EzyAgric said, “As demand for Buy Now Pay Later services grows in Uganda, our customers have made it clear that the agriculture sector should not be excluded in the wave that is heralding more inclusive financial services in the country. The merchants and farmers trusting EzyAgric to deliver quality farm inputs to them want greater choice and more flexible payment options whenever they shop with us. Having Pezesha’s rock-solid digital lending infrastructure integrated within EzyAgric means that we can act quickly to answer the needs of the underserved agro-focused small-to-medium-sized businesses (SMBs) in Uganda while increasing our own user retention and profitability.”
EzyAgric’s partnership with Pezesha comes at an important time when there are worries about food security in the region due to the increased costs of living and hikes in the cost of agro-inputs.
We believe this partnership will be a welcome boost to the agricultural sector which contributes more than 25% of Uganda’s GDP (World Bank). EzyAgric aims to serve more than 1000 of its merchants that are in need of instant capital to purchase stock.
“We are excited about our partnership with EzyAgric to provide inventory needs and working capital to their merchants. These merchants are underserved as they are not able to access affordable credit due to them being scattered in rural areas and limited information to determine their ability for loan repayment. With an already developed digital merchant network on a single platform – EzyAgric; Pezesha Uganda is now able to serve a wide range of merchants. The access to our convenient and affordable loans will enable the merchants to stock critical seasonal inputs ahead of farming seasons,” Jessica Valerie Tusiime, Pezesha’s Operations Lead in Uganda said.