Exploring innovative finance models for farmers in Kenya
How Aqua for All works with key stakeholders to unlock private- and other capital to scale smart solutions
As part of the Smart Water for Agriculture (SWA) program in Kenya, Aqua for All and SNV co-organized an ‘Innovative Finance’ workshop together on the 28th of September with the National Irrigation Acceleration Platform (NIAP). The workshop was hosted by the Water Research and Resource Center (WARREC) of the Jomo Kenyatta University of Agriculture and Technology.
The SWA program confirms the need to come up with financial models for upscaling the adoption of smart water solutions amongst smallholder farmers in Kenya. Representatives from local commercial financiers (Banks, Micro Finance Institutions, Savings and Credit Cooperative Organizations), agricultural suppliers, the Kenyan government, off-takers, ICT sector and NGOs/enablers were invited and triggered to step out of their comfort zone and co-create new scalable financial models. Inspiration was provided by sharing innovative finance models that work in other sectors and countries.
Participants actively brainstormed with thirteen key ingredients and designed scalable models – on the spot – that connect different stakeholders in the agricultural value chain. The workshop resulted in three innovative finance models, created by the sector players themselves. These will be further detailed and piloted as part of the SWA program.