Season Five of the annual HiPipo 40 Days 40 FinTechs initiative has kicked off with AgriShare; an Agric-tech platform that is using financial technology to transform the fortunes of more than 100,000 farmers and core agriculture stakeholders.
AgriShare’s latest intervention is a Buy-Now, Pay-Later model for irrigation equipment. Aimed at curing the ills caused by drought, this model enables farmers to buy or use solar-powered irrigation equipment on credit and pay in instalments.
“Last year, we launched the solar project which allows farmers to utilize solar energy-powered equipment to irrigate their crops. This is a cost-friendly model for farmers as they don’t need to buy fuel; plus solar energy is environment friendly,” Caroline Nalubwama, the AgriShare Hub Manager for Luweero noted, adding;
“We also have the pay-as-you-go model focused on the irrigation pumps. Farmers that want to own the irrigation pumps and other equipment can pay in installments. This helps them to own the equipment at affordable prices. Most of the farmers pay digitally while some still use cash.”
Nalubwama appeals to the youth to actively take part in Agriculture noting that the industry is profitable, fashionable, and marketable.
“Uganda is an agro-based economy, with the industry employing over 70 per cent of Ugandans. The young people need to seize the opportunities presented by agriculture and use them to grow the economy. At AgriShare, we are here to support farmers and everyone interested in investing in farming. We have offices in Luweero (Central Region), Buwenge (Eastern Uganda) and Nwoya(Northern Uganda). We intend to open more offices in Western Uganda and other parts of the country,” Nalubwama noted.
Run under HiPipo’s Include Everyone program that also encompasses other initiatives such as FinTech Landscape Exhibition, Women in FinTech Hackathon, Summit & Incubator, and the Digital and Financial Inclusion Summit and Digital Impact Awards Africa; the #40Days40FinTechs platform aptly provides a setting for the various players and stakeholders involved in digital and financial technology to exhibit their products and services. It also gives players a platform to share their ideas on how the unserved and underserved by the present financial systems can be brought into the fold.
“We are happy to kick off Season Five of 40 Days 40 FinTechs. Last year, we focused on end-user experiences and this year, we will focus on the innovativeness of the FinTechs. We are going to have candid discussions with FinTechs about their innovations and latest upgrades and what impact they envision these products and services and upgrades will have on their customers,” Innocent Kawooya, the HiPipo Chief Executive Officer noted. With over 150 participants in the last four years, #40Days40FinTechs continues to be the world’s premier showcase event for innovations that are enabling underserved populations to join the digital economy space. We know that this can only get better owing to the inspiration and collaboration of our partners; Level One Project, Mojaloop Foundation, INFITX, Cyberplc Academy, Ideation Corner and Crosslake Technologies. Most importantly, the initiative owes its continued success to the generous support of the Bill and Melinda Gates Foundation.