In a groundbreaking move to address one of Nigeria’s most entrenched financial inequities, fintech firm SeedFi has partnered with agritech platform Winich Farms to introduce produce-collateralised loans, offering farmers unprecedented access to credit without traditional banking hurdles.
For decades, smallholder farmers—who form the backbone of Nigeria’s food system—have operated on the fringes of the financial ecosystem. Without formal credit histories, fixed collateral, or access to banking institutions, many have been denied the resources needed to scale their operations or invest in long-term growth.
Now, SeedFi and Winich Farms are dismantling those barriers. Through their new financing model, farmers can store their harvested crops in Winich’s certified warehouses and use them as collateral to secure flexible loans. The pilot phase, launching this May, is expected to reach over 700 farmers nationwide.
Farming Freedom: Loans That Let Farmers Choose Their Path
What sets this initiative apart is its unrestricted use of funds. Unlike traditional agricultural loans, which often come with strict guidelines, farmers can determine how best to deploy the capital—be it expanding farmland, purchasing irrigation tools, investing in post-harvest processing, or strengthening distribution networks.
“Farmers are the foundation of our economy, and they deserve access to the same financial opportunities as any other sector,” said Pelumi Alli, CEO and co-founder of SeedFi. “Our partnership with Winich Farms ensures that their hard work finally counts where it matters most—towards their creditworthiness and future growth.”
This partnership is part of a broader strategy by SeedFi to build inclusive financial systems that serve the underserved, from farmers and informal workers to microentrepreneurs and small businesses.
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Attai Riches, CEO of Winich Farms, emphasized that the new model goes beyond just unlocking financing—it gives farmers real agency.
“To facilitate access to finance for producers, Winich has partnered with SeedFi to roll out produce-collateralised loans,” said Riches. “Crops stored in our warehouses now serve as guarantees, removing the burden of traditional asset requirements.”
The project also plays a strategic role in enhancing Nigeria’s food security and rural development, as more farmers gain the resources to boost their yields and reduce post-harvest losses.
A Financial Innovation with National Implications
Agricultural analysts have praised the initiative as a step toward systemic transformation in Nigeria’s credit landscape. In a country where agriculture accounts for over 25% of GDP but receives less than 5% of formal lending, this model could prove pivotal.
SeedFi’s broader mission includes leveraging technology to reduce bias in financial decisions, cut bureaucratic delays, and offer tailored credit products that reflect the realities of underserved populations.
As the 2025 farming season progresses, the success of this pilot could lead to a nationwide rollout, offering millions of Nigerian farmers a new path to economic empowerment.
“Access to credit is not just a financial tool,” said Alli. “It is a catalyst for resilience, dignity, and national development.”