New digital credit platform Yolim has $10 million in stock for Togolese farmers

Agriculture
Wednesday, 29 July 2020 15:41
New digital credit platform Yolim has $10 million in stock for Togolese farmers

(Togo First) - Launched on July 28th, the Yolim digital lending platform for Togolese farmers has already mobilized over FCFA5.5 billion (around $10 million). 

Every farmer registered on the platform has access to a credit e-wallet of FCFA96,000 which can be used to purchase fertilizers, pesticides, or rent tractors. According to the minister of the digital industry, Cina Lawson, more than 57,000 farmers are already registered on the platform. 

The official further noted, concerning the funds available for the farmers, that “this is not money that can be withdrawn physically. The loan is a coupon that can be used in specific places.” She then added that at the moment we have 210 partnering suppliers across the country where farmers can make purchases using these coupons.” 

The loans, it should be noted, are interest-free. 

Séna Akoda

togofirst mobile

 
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