The strength and cohesion of our network has enabled us to partner and work successfully with an MFI (Micro Finance Institution) which provides affordable unsecured credit to all the farmers most of whom are unbanked. Lack of credit for coffee farmers leaves them vulnerable and susceptible to manipulation.
By leveraging the data collected from farmers for purposes of traceability and rural agricultural credit-scoring, it has been possible to provide unsecured agricultural loans of between $200 to $1,100 to more than 2,000 farmers in our supplier network so far through mobile telephone technology. This has served as an effective means to drive much needed rural financial access.
Financial inclusion provides a route for the farmers to manage their finances better in a country where only one in six citizens has a bank account.
Our farmers greatly appreciate our support to empower them and improve their livelihoods through their coffee. We continue to work with a number of partners to achieve this and through our model we are steadily raising the awareness of their coffee.