December 8, 2015
Agribusiness Systems International Awarded Grant to Expand Mobile Money Technology in Ghana
Eight-Month Project to Build on RimFin Success Turning Farmers’ Phones into Wallets
Agribusiness Systems International, an affiliate of ACDI/VOCA, is partnering with Tigo Cash, a mobile money provider, and OpenRevolution, an international firm with expertise launching and scaling out mobile money platforms, on the Agricultural Value Chain Mobile Finance (AgFin) project. AgFin is an International Fund for Agricultural Development -funded $433,434 grant administered by the Government of Ghana. AgFin will expand mobile money technologies to rural communities and improve financial literacy by working with three agricultural processing and export companies to convert their sourcing and payment systems from cash to mobile. These initiatives will essentially turn farmers’ phones into their wallets and allow them to be paid digitally through their mobile phones.
Mobile money transfers (MMT) mitigate the risks associated with cash payments such as being robbed while traveling with large sums of money. Farmers appreciate the privacy, efficiency, accountability, and secrecy MMT provide. Through previous ASI programs such as Ghana Rice Mobile Finance (RiMFin), ASI has learned that farmers want additional ways of using funds in their mobile wallets beyond just cash transactions. Tigo Cash will offer general utility bill payments services and the ability to pay insurance premiums or pay back loans.
Read more about ASI’s RiMFin here.
Read more ACDI/VOCA’s mobile money in Ghana’s ADVANCE II project here.
Read more about our Agricultural Value Chain Mobile Finance (AgFin) project here.
Read more about ADVANCE II here.
Read more about our work in Ghana here.
Read more about ACDI/VOCA’s work providing financial services for actors along the value chain here.