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Safaricom backs FarmDrive to improve small farmers’ access to credit

The dominant Kenyan mobile provider Safaricom provided a small convertible loan to FarmDrive, which helps small-scale farmers access loans.

FarmDrive analyzes income streams, expenses and crop yields and assigns farmers a credit score.

Credit enables farmers to invest in farming equipment and practices to boost productivity and income.

Safaricom’s investment came from its $1 million Spark Fund, which has made five early-stage mobile investments. SafariCom plans to launch a second fund.

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