Climate Smart Agri financing to Boost Growth for Farmers

mfarmpay Inc. team on a vegetable farm visit

Climate Smart Agriculture (CSA) is an approach aimed at increasing farm productivity sustainably, taking into consideration climate change concerns and impacts. More specifically, the World Bank defines Climate-Smart Agriculture as an approach to managing landscapes, cropland, livestock, forests and fisheries, that aims to achieve three wins:

(1) Increased productivity to improve food security and boost farmers incomes;

(2) Enhanced resilience to drought, pests, disease and other shocks;

(3) Reduced GHG emissions.

According to mfarmpay Inc., to adopt climate-smart agricultural practices, farmers need access to sufficient and adequate finance and skills to rightly use finance. Data-driven approaches that aim to derisk lending by financial institutions to rural African farmers is key to improving farm productivity, healthy farming households and socio-economic boost.

We have the firm belief that mfarmPay is one key solution that significantly contributes to climate change mitigation and adaptation in Africa’s agricultural sector, says Matilda Anku, Finance Manager of mfarmpay Inc. This notwithstanding, there is need for more initiatives to be involved in agricultural supply chain mapping and CSA market assessment to close climate smart agri-financing gaps in Africa.

Effectively mainstreaming gender and youth in climate smart agriculture activities on the continent  will be equally game-changing to build a sustainable agrifood future.

This content is by courtesy of mfarmpay Inc., a data-driven financing product for African farmers. To enquire, email: hello@mfarmpay.com