Commitment to Action

Leveraging Data to Drive Rural Financial Accessibility

Commitment by

First Access

In 2015, First Access committed to developing agriculture-specific credit scoring algorithms to drive down the cost of borrower assessment and expand financial access to 100,000 smallholder farmers across sub-Saharan Africa by 2018. First Access will deliver the customized risk scoring algorithms in its target markets by leveraging available mobile phone and weather data, as well as agricultural input and market pricing data from its partners, to build a custom credit scoring platform that will ultimately catalyze the disbursement of $50 million in investment capital. The platform will drive growth in credit quality, accessibility, customer service, and consumer protection, supporting the livelihood development of rural populations which have traditionally been excluded from capital markets yet form the backbone of the economy.

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Overview
Summary

Commitment

Leveraging Data to Drive Rural Financial Accessibility

Launched

2015

Est. Duration

1 year

Estimated Total Value

$150,000

Region

Africa

Countries

Democratic Republic of the Congo, KENYA, MALAWI, Tanzania, UGANDA, ZAMBIA

Commitment by

First Access

Partner(s) of the Commitment Maker(s)

Esoko, FINCA International