Dodore and Rabobank Foundation will finance farmers using blockchain technology
Dodore, the company behind the Agri-wallet, is starting a pilot together with Rabobank Foundation to give farmers in East Africa access to finance and thereby contribute to a better life. Together they develop a platform based on blockchain technology, which provides smallholder farmers with access to finance. Rabobank Foundation participates because it increases transparency in the value chain and gives farmers the opportunity to save and borrow for inputs, such as high yielding seeds and fertilizers, via the Agri-wallet.
Blockchain technology access to finance
The Agri-wallet is a platform for funds restricted for income generating agricultural activities - or earmarking. This helps farmers save when they monetize their harvest, reduce their financial costs and achieve full financial inclusion.
Sijmen de Hoogh, co-founder and CEO of Dodore: "The Agri wallet is a good example of a blockchain platform that is interesting for traditional financial institutions. That is good news, because the growing world population means that agricultural production will have to be increased by one hundred percent in an environmentally sustainable way. With the Agri-wallet we want to make this possible and the cooperation with Rabobank Foundation is of great importance. Thanks to their support, we can now provide smallholder farmers with loans via our Agri-wallet."
Madelon Pfeiffer, program manager Africa at Rabobank Foundation: "Rabobank Foundation has been supporting smallholder farmers in Africa for years. This usually happens through loans to farmer cooperatives. With the Agri wallet, we can connect directly with smallholder farmers to offer them a mobile saving and loan scheme to increase their agricultural production."