SeedFi has partnered with Winich Farms to launch produce-collateralised loans. This initiative is aimed at unlocking access to credit for farmers, who can now use their stored crops as financial leverage.
The move will also tackle financial exclusion in agriculture, which has historically been an economic backbone for many rural Nigerians. However, these farmers who feed millions and power rural economies have remained excluded from formal financial systems due to a lack of collateral, credit histories, and access to traditional banking services.
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Samaila Dogara, co-founder of SeedFi, said, “Farmers are the foundation of our economy, and they deserve access to the same financial opportunities as any other sector.
“Our partnership with Winich Farms ensures that their hard work finally counts where it matters most—towards their creditworthiness and future growth.”
Attai Riches, CEO of Winich Farms, added, “To facilitate access to finance for producers, Winich has partnered with SeedFi to roll out produce-collateralised loans.
“Farmers can now leverage their stored produce to access financing without traditional barriers or restrictions. The funds can be used at the farmer’s discretion.”
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Through this new financing model, farmers can use their harvested crops, stored in Winich warehouses, as collateral for flexible loans without the need for formal documentation or fixed asset guarantees. The pilot of the program is set to initially serve over 700 farmers, with plans for nationwide expansion.
