Kenya’s FarmDrive, a mobile marketplace for loans and insurance for smallholder farmers has been declared of the Thomson Reuters Africa Startups Challenge taking home $10,000 as cash prize.
The Thomson Reuters Africa Startup Challenge aims to empower Africa’s success by providing solutions that will see the continent move from aid-based economies to self-sustaining, knowledge-based economies.“Africa is such an exciting growth market for Thomson Reuters. We are looking forward to bringing the unique voice of our African customer to our innovation efforts,” Saidah Nash Carter, senior vice president & Head of Innovation – Africa.
Founded in Kenya by Peris Bosire  and Rita Kimani the two impressed the challenge judges who sought to find the best new startup coming out of Africa and leveraging new technology and new business models to disrupt legacy players.
Apart from the cash prize FarmDrive will get mentorship and increase its visibility on Eikon, a Thomson Reuters global investment platform. FarmDrive will also work with Thomson Reuters the Bankable Farmer Initiative (BFI) across Africa, to provide access of loans smallholder farmers across Africa via their mobile phones.