For immediate release
Agri-Wallet receives top award at the 2019 Knowledge and Innovation Challenge by The World Bank Group
(On the Left) Sijmen de Hoogh, Director – Dodore Kenya Limited making his pitch on behalf of Agri-Wallet which won the Disruptive Agricultural Technology Award.
Nairobi, Kenya: 10th April 10, 2019 – The World Bank Group in Partnership with the Korea-World Bank Partnership facility hosted an innovation challenge dubbed “Scaling up Disruptive Digital Technologies in Kenyan Agriculture”. The challenge aimed at providing a forum to discuss the opportunities offered by disruptive digital technologies that aim at increasing productivity, and access to services and markets in the agricultural sector. It brought together over twenty-five (25) entries ranging from innovators, organizations and businesses that are disrupting the dynamics of inclusion and outreach for smallholder and medium scale farmers along different value chains within the Kenyan agricultural sector. Innovators pitched their inventions to a team of experts from The World Bank under four (4) categories which included innovations that provide; advisory and Information for Agricultural Productivity, market linkages, farmer financial Inclusion, and data analytics and agricultural intelligence.
Dodore Kenya, which developed Agri-Wallet, an innovative mobile business account that allows farmers to save, borrow and pay for income generating activities, aims to increase food security and fight poverty. Dodore won under the Farmer Financial Inclusion category.
Development of Agri-Wallet is anchored on Kenya’s mobile penetration rate at about 98% according to Communications’ Authority. However, the developers are also cognizant that access to finance for smallholder and medium scale farmers is a major challenge plaguing the Agricultural sector, despite its 25 percent contribution to the country’s Gross Domestic Product. Agri-wallet is therefore changing this narrative through their innovative solution which has been tried at a minimum scale of 3,000 farmers in terms of outreach and impact. Agri-wallet is currently serving over 15,000 farmers in Kenya and is working towards scaling up to 100,000 farmers by the end of the year and over 2 Million farmers across East Africa by 2023.
“We are proud to have won this award by the World Bank as one of the disruptive technologies that are bound to revolutionize more financial inclusion for smallholder farmers. At Dodore, this award is an affirmation of the contribution that smallholder farmers make towards economies, and our work and your support as stakeholders on journeying with us towards a more sustainable agriculture sector and the role that Agri-Wallet has towards this. Through the wallet, farmers now have more control over their finances to confidently make informed decisions in the agro-ventures as they work towards food security and better social-economic empowerment”- Sijmen de Hoogh, Director – Dodore Kenya Limited.
“Each stage of the African agriculture value chain is ripe for disruption. Technologies such as apps, climate-smart seeds or data analytics can be used to dramatically improve farmers’ yields if scaled up and deployed effectively. At the World Bank, we see the potential that these innovations have towards transforming Africa’s Agriculture.” Jeehye Kim, Agricultural Economist at the World Bank Group.