AgriPay – the Zanaco Farmers’ Account

AgriFin is leveraging the power, convenience, and prevalence of mobile phones to help smallholder farmers boost their harvests and incomes. AgriFin employs a market facilitation model to drive scalable, commercial product innovation for SHF with agricultural ecosystem partners who include mobile network operators, financial institutions, service providers, farmer networks, technology innovators, agriculture value chain players, government and other stakeholders. The Zambia National Commercial Bank (ZANACO) is the largest bank in Zambia by customer size and the second largest in assets, with almost one million customers. ZANACO’s focus cuts across government, food & agriculture, personal, and SME banking.

Over the past 2 years, AFA has supported ZANACO to design and develop the first digital financial services (DFS) product specifically designed for farmers in Zambia. This case study highlights learnings from this partnership, over multiple engagements leading up to the launch of the product.