New lending model helps farmers access credit without land titles or collateral
A fintech firm called Avenews is introducing a lending model for Kenyan farmers that uses transaction history instead of traditional collateral like land titles. This initiative aims to help farmers access credit to purchase inputs and manage post-harvest infrastructure.
Why it matters
It addresses the significant financing gap in the agricultural sector, which is vital to Kenya's economy but often underserved by traditional banks due to perceived risks.
Avenews Chief Executive Officer Jonathan Tseelon says they make lending decisions based on businesses' transaction history instead of relying primarily on land titles and other securities./AGATHA NGOTHO.
The article reports on a business development and industry summit without taking a political stance or using loaded language.
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