myAgro
myAgro
myAgro is an SMS-based layaway system that allows small-scale farmers in West Africa to save up for fertilizer, seed, and training packages using their mobile phone.
myAgro is an SMS-based layaway system that allows small-scale farmers in West Africa to save up for fertilizer, seed, and training packages using their mobile phone. Registered farmers can purchase savings cards from their local village stores to add to their myAgro account in flexible amounts ($.50 – $50). Upon receipt of the SMS, myAgro’s system automatically allocates the value of the farmer’s payment to the farmer’s layaway account. Smallholders choose how much and how often to pay into their layaway account in the lead up to planting season, and once they achieve their goal, myAgro delivers their chosen input package of fertilizer, seed, and technical training.
myAgro also offers micro-dose fertilizer training, planting training for their different seed varieties, animal-drawn seeder training, and off-season vegetable training.
Mali, Senegal, and Tanzania.
Savings cards and input packages are sold through a network of 300 independent rural merchants in Senegal and Mali. Interview with representative
Scratch-off savings cards are sold in flexible amounts from $0.50-$50 USD.
Primary competitors include traditional micro credit platforms such as Table Banking and Microfinance Institutions.
Smallholder farmers