Increasing Access to Micro Credits by Small Scale Farmers Through Value Chain Financing /Inclusion Qorus-Infosys Finacle Banking Innovation Awards 2026

The mainstream banking and Financial Institutions, has from time immemorial, through a majority of their products and service, precluded a vast audience of the population they serve, and as such, an overwhelming majority of both their already existing and potential clients/members do not have the opportunity nor privileged to enjoy their products and services.

Their lending and collection policies are not only rigid (requesting landed property with titles as collateral to back loans whereby farmers can not afford), lack the the flexibility in accommodating every category of clients/members. These Institutions too, also suffer from inability in adopting and practicing the use of modern days technologies (fintech) mobile or digital banking as laudable innovations which does not only make the sector more attractive, inclusive and very accessible by all from far and near especially those in the rural-difficult to reach communities.

At Mitayen Cooperative Credit Union Limited (MitaCCUL), which is Category 1 Micro Finance Institution, the Agribusiness Department of the Union has developed financial products and services that does not necessarily warrant for a standard collateral as a condition for backing a loan, thanks to the Agricultural Value Chain Financing, which is a mechanism that permits for loan granting to small scale farmers without necessarily requesting for standard collateral to back the loan. As a result, access to micro credits by small scale farmers have increased significantly with our services enjoyed by wider range of audience that was largely marginalized before now.

On the other hand, we have developed a digital banking application (mitanyen app) that permits our members to carry out transactions by the use of phones and other gadgets from far and near at the comfort of their homes and farms, be it anywhere and has contributed enormously to financial inclusions as those in difficult-to-reach rural areas as well as small income individuals are able to enjoys our products and services.