Rice farmers in the North West can now use CashCard - the farmer’s bank - to ease the difficulty in accessing farm inputs.
Months after service in June for farmers in Oyo State, Crop2Cash introduced its financial inclusion service for rice farmers in two North-West states - Jigawa and Kaduna - in October.
While introducing this financial service to the farmers in their respective local governments, we saw major challenges these farmers face during our research and surveys, including:
- Farmers mostly receive payment by cash. The implication here is that farmers without a bank account probably won't get paid or will be saddled with the responsibility of finding someone with a bank account to help them receive the payment as buyers do not often carry cash on them.
- We saw that banks are far from the farmers' villages.
- Farmers were concerned with the many paperwork involved in opening an account in the bank. As a result, it discouraged many of them from opening bank accounts. Those who receive payment by cash mostly ‘keep’ their money in their houses.
CashCard provides key features of financial services - bank-less savings, accessing farm inputs on credit, market price updates, ease of payment, and more. With CashCard, a buyer can send money to a smallholder farmer from any Nigerian bank easily and securely. With CashCard, we are making financial services more accessible to millions of Nigeria’s smallholder farmers without going to a bank - all you need is a mobile phone.
After taking time out to explain the nitty-gritty of CashCard (in Hausa) to the farmers, we trained individuals from different local governments on how to become CashCard agents. The farmers were excited to learn about the many unique ways they could harness CashCash, and we’re working hard to bring more exciting updates to CashCard for smallholder farmers in Nigeria.