Financial inclusion has long been a catalyst for economic growth and empowerment, and at Afrishew, we are committed to driving this transformation in the agricultural sector. We are thrilled to announce our partnership with Zenith Bank, a leading financial institution, to bring financial inclusion to unbanked smallholder farmers in our network.
Sensitizing Farmers on the Benefits of Banking
Afrishew, in collaboration with Zenith Bank, recently conducted a sensitization exercise that reached over 3,000 farmers within our network. The primary objective was to educate these farmers on the numerous advantages of having a bank account. We firmly believe that providing access to banking services can derisk our farmers and make the entire cashew value chain more attractive to financial institutions.
Empowering Farmers with BVN and Account Opening
During this exercise, we took significant steps to bring our farmers into the formal financial sector. Farmers were assisted in generating their Bank Verification Numbers (BVN), a crucial requirement for secure and seamless banking. Additionally, account opening forms were filled out, setting the stage for our farmers’ entry into the world of banking.
Unlocking Incentives for Farmers
Afrishew is dedicated to ensuring that our farmers enjoy the full spectrum of benefits that come with having a bank account. With this new development, our farmers will be able to receive payments from the sale of their farm produce directly into their bank accounts. This seamless process eliminates the risks associated with handling large sums of cash and ensures secure and transparent transactions.
Financial Access for Remote Areas
Recognizing the diverse locations of our farmers, including remote areas with limited access to banks, we have implemented innovative solutions. Farmers in these regions will be able to carry out financial transactions, such as withdrawals and deposits, through designated banking agents within their facilities. This initiative bridges the gap and brings the power of banking closer to those who need it most.
A Brighter Future for Smallholder Farmers
Our vision extends beyond financial inclusion; it envisions a future where our farmers can access loans to fund the purchase of farm inputs and improve their farm management. Currently, this remains a significant challenge for most smallholder farmers in Nigeria due to their unbanked status. With access to formal financial services, our farmers can unlock new opportunities for growth and sustainability.
Join Us in Building a Stronger Agricultural Sector
Afrishew is proud to be at the forefront of this transformative journey. Our partnership with Zenith Bank marks a significant milestone, and we are excited about the positive impact it will have on our farmers’ lives and the entire cashew industry.
Stay connected with Afrishew as we continue to champion financial inclusion, empower smallholder farmers, and create a more prosperous and resilient agricultural sector in Nigeria.
For more updates on our initiatives and collaborations, follow our blog. Together, we can build a brighter future for smallholder farmers in Nigeria.
