For decades, Nigerian farmers have remained central to the nation’s economy, sustaining food systems and rural livelihoods. Yet, despite their critical role, they remain largely excluded from the formal financial system due to a lack of traditional credit histories, collateral, or access to banking infrastructure.
Now, a new partnership between Nigerian fintech company SeedFi and agritech platform Winich Farms is poised to change that. Together, they are introducing a pioneering initiative: produce-collateralised loans. This allows farmers to use their stored crops as collateral, bypassing the conventional demands of paperwork or asset guarantees that have kept them locked out of credit markets.
Launching in May 2025, the pilot phase will see more than 700 farmers benefit from flexible financing. With no restrictions on how the loans can be used, the initiative empowers farmers to decide for themselves—whether to expand farmlands, purchase equipment, or invest in post-harvest processing.
SeedFi’s CEO described the collaboration as a move to ensure that farmers’ efforts contribute directly to their creditworthiness and future opportunities. The innovation not only supports individual farmers but also contributes to broader goals of food security, rural development, and economic resilience.
Winich Farms’ CEO reinforced this, noting that farmers can store their crops in Winich-managed warehouses and access financing without needing conventional collateral. By freeing up access to capital, the partnership puts financial control directly in the hands of producers.
