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The $6.8M credit engine hidden inside a Nigerian cassava patch

UfarmX is a credit infrastructure business that evaluates farmer creditworthiness using proprietary data, allowing agro-retailers to extend inputs on credit.

Tarun Mottlia

Via TechCabal

·Excerpt
The $6.8M credit engine hidden inside a Nigerian cassava patch
Image: Alexander Xanders and the uFarmx team inspect a maize farm as part of efforts to improve access to inputs and support agricultural production. Image source: UfarmX

When Alexander Zanders stood on a patch of land in Oyo State in 2015, he planned to build a simple processing plant. But as the naira plunged, importing machinery became impossible. Forced to pivot, Zanders bought 100 acres, started farming himself, and ran a small experiment supplying 15 local maize growers with inputs on credit. The result? Crop yields tripled, farmer revenues doubled, and Zanders extracted the financial signals hidden in the soil. In this feature, OPEYEMI KARREM tells the…

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