The Vermi-Farm Adapt Finance Program is a community-based banking system that offers smallholder farmers access to affordable savings, loans, and insurance. This program is a key part of our strategy to reduce financial exclusion and empower farmers to build climate-resilient livelihoods. Through this initiative, farmers can access financial resources that enable them to invest in agricultural improvements, manage income volatility, and safeguard against climate risks.
Benefits
Financial Inclusion
Provides access to banking services for farmers who have traditionally been excluded from formal financial systems.
Climate Adaptation
Offers loans and insurance products tailored to help farmers adapt to climate change and safeguard their crops against extreme weather events.
Income Security
Farmers can access microloans to invest in their farms and insurance to protect their crops, ensuring consistent and reliable incomes.
Empowerment of Women & Youth
The program is designed to ensure that women and young people can access the same financial opportunities, helping to address gender and age-related disparities in the agricultural sector.
How It Works
Vermi-Farm Wallet
Farmers use the Vermi-Farm Wallet, a USSD mobile platform accessible by just dialing *702*44#, to manage their savings, loans, and insurance. The platform ensures that even farmers in remote areas can access financial services with minimal infrastructure.
Savings
Farmers can save small amounts regularly, building a financial cushion to help them during lean seasons or when unexpected expenses arise.
Loans & Insurance
Microloans are available at low-interest rates, and insurance is offered to protect against weather-related risks, ensuring that farmers' incomes remain stable in the face of climate change.
Training & Financial Literacy
Farmers receive financial education to help them manage their finances and make informed decisions about savings, loans, and investments.
Success Stories
Mercy's Financial Journey
For the longest time, Mercy Makena, a hardworking farmer, struggled with accessing financial services. Through the Vermi-Farm Wallet, she now manages her savings and has accessed loans to expand her farm operations.
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Community Empowerment
A group of farmers in rural Kenya have formed a savings group using the Vermi-Farm Wallet, enabling them to pool resources and invest in shared agricultural equipment.
Read Full StoryFinancial Inclusion in Action
