Limited information on smallholder finance product design is preventing financial service providers from meeting the financing needs of smallholder farmers.
There are over 450 million smallholder farmers globally, supporting an estimated 2 billion people in their households. These households need access to financial services to help increase farm productivity, reduce their vulnerability to unexpected shocks and improve their livelihoods. Yet the current supply of financing available to them, ~$50 billion, represents only a quarter of the estimated total need of this population. Part of the issue is that financial service providers face high resource constraints to develop and deploy financial products that meet the needs of smallholder farmers.
The Smallholder Finance Product Explorer sought to catalyse product development and innovation by improving the quality and availability of operational data that helps drive product development.
Allowed financial service providers to showcase their work to investors on MIX Market building on data collected by RAF Learning Lab.
Insights from the tool helped organizations develop smallholder products more quickly and easily.