Home » Agri Fintech Companies Providing Digital Financial Solutions in Africa

Agri Fintech Companies Providing Digital Financial Solutions in Africa

by Victor Adeyemi
Agri Fintech Companies in Africa

We are in the era of innovation, where even the most established sectors are embracing change. While Africa’s agricultural system still largely relies on traditional methods of saving, borrowing, and trading, the wind of transformation is inevitable.  

Just as Amazon redefined bookstores and apps like Uber and Bolt redefined travel, the age-old practices in farming are now being reshaped by agri fintech solutions. However, how has financial digital technology – ‘fintech’ – helped African farmers? What benefits does it offer, and which companies are providing these solutions? Let’s explore the answers.  

7 Agri Fintech Companies Shaping Agricultural Finance in Africa

Here are seven selected companies in Africa that offer agricultural fintech solutions for farmers. These companies are chosen based on their solutions and not because of their funding, size or popularity. 

1. Apollo Agriculture (Kenya)

Apollo Agriculture

Founders: Eli Pollak, Benjamin Njenga, and Earl St Sauver  

Year Founded: 2016

Apollo Agriculture creates credit profiles for small-scale farmers using advanced data analysis. To help farmers in emerging markets, they combine agronomic machine learning, remote sensing, and mobile technology. 

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Moreover, Apollo offers tailored credit, high-quality farm inputs, and expert advice to increase farm yields—starting in Kenya. As reported by TechCrunch, at the end of 2021, Apollo had worked with 100,000 customers in Kenya and Zambia. 

Furthermore, according to the International Fund for Agricultural Development (IFAD), as of 2023, the company has raised $85.5 million to expand its services. 

To date, Apollo Agriculture has positively impacted over 350,000 farmers in Kenya and Zambia by boosting their productivity and profits.

2. Pula Advisors (Kenya)

Pula Advisor

Founder: Rose Goslinga  and Thomas Njeru

Year founded: 2014

Pula is an African InsureTech provider that offers innovative agricultural insurance and digital products to support smallholder farmers. These solutions help farmers manage yield risks, improve farming practices, and increase incomes. 

To refine its insurance products and enhance efficiency, Pula uses remote-sensing data, drones, and adaptive learning. The company also provides inputs, farm monitoring, data analytics, and advisory services to help farmers enhance their yields and build climate resilience. 

Pula operates in Africa and Asia and has insured over 8 million farmers. Through their services, they have significantly improved farming practices and income levels for these farmers.

3. ThriveAgric (Nigeria) 


Founders: Uka Eje and Ayodeji Arikawe

Year founded: 2017 

ThriveAgric offers various tech solutions under its ‘Agricultural Operating System’ to help smallholder farmers boost their productivity. One key solution of this system is input financing, which provides farmers with the necessary resources.

When onboarding, ThriveAgric collects data from farmers and maps their farms. The data helps the company assess the farmers’ creditworthiness and determine how much credit they can receive. Farmers then get inputs like seeds, fertilisers, and crop protection products, equivalent to the loan amount.

In 2023, ThriveAgric secured $56.4 million in debt financing, including a $1.75 million co-investment grant from the USAID-funded West Africa Trade & Investment Hub.

ThriveAgric has facilitated access to valuable insights and has impacted over 500,000 smallholder farmers in its network, with more than $150 million in credit.

4. AgroCenta (Ghana) 


Founder: Michael Ocansey and Francis Obirikorang

Year founded: 2015

AgroCenta runs two main digital platforms, CropChain and LendIt, in Ghana to tackle the issues smallholder farmers face in accessing markets and financial services.

To support farmers more effectively, AgroCenta deploys a network of agents who engage with local farming communities throughout the post-harvest stages.

Using this technology, AgroCenta connects all players in the agricultural supply chain to facilitate smooth trading. It provides smallholder farmers and farm organisations with market access, financing, and resources to help them grow and become self-sufficient.

Since its inception, the number of farmers registered on AgroCenta’s CropChain app has surged from 3,000 to 48,000. The main crops produced by these farmers is maize, rice, soybean, cowpeas, and sorghum.

5. HerVest (Nigeria) 


Founders: Solape Akinpelu and Yomi Ogunleye

Year founded: 2020

Founded in 2020, HerVest is a startup dedicated to empowering underserved and excluded women across Africa.

HerVest aims to enhance women’s lives by offering access to financial services and products tailored to their needs. These include savings accounts, impact investing opportunities, and loans explicitly designed for smallholder female farmers.

Furthermore, the startup features a savings app where women can open savings accounts and set personal savings goals. They can also invest in farmers within the HerVest network through short-term loans, known as impact investments.

In addition, the app facilitates money transfers and provides users with essential financial literacy information. Essentially, this solution by HerVest helps women manage their finances more effectively.

6. Emata (Uganda) 


Founder: Dozy Mmobuosi

Year founded: 2015

Emata, based in Uganda, is a digital lender focused on supporting smallholder farmers. The company provides affordable digital loans to help farmers invest in their farms and boost their income.

Through technology and digital platforms, Emata automates the entire loan process. This includes collecting data, assessing credit scores, and disbursing loans, even for small amounts as low as $15.

Since its launch, Emata has partnered with 43 agricultural organisations and reached 38,000 farmers who grow coffee, maize, oilseeds and dairy. Also, Emata has provided loans of about US$810,000 to 2,500 small-scale farmers which has helped increase their earnings. 

7. OKO Finance (Mali)

OKO Mali

Founder: Simon Schwall (a French national) and Shehzad Lokhandwall (an Indian national) 

Year founded: 2017

OKO Finance is a specialised insurance company that provides crop-specific insurance products to farmers across Sub-Saharan Africa. While insurance is at the heart of their services, the company is also driving sustainable agriculture.

The company’s insurance lowers risk for micro-credit providers and helps farmers prepare for future planting seasons in ways they couldn’t afford previously.

Looking ahead, the company plans to reach one million farmers by the end of 2025. Also, there are plans to expand operations to Ghana, Côte d’Ivoire, Cameroon, and Nigeria, to further extend their impact across the continent. 

Wrap Up

There is no doubt that fintech is transforming farming in Africa. It’s helping farmers improve their work and boost their harvests. Thanks to this solution, farmers now have easy access to loans, simple payment options, affordable insurance, and direct market connections. 

Consequently, with these Agri fintech tools, both small and large-scale farmers are empowered to strengthen food security not only in Africa but across the globe.  

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