Alliance Microfinance (AMAS) to launch a Digital agri-bank that targets urban farmers in Ethiopia in partnership with Norwegian Church Aid, Bakken & Baeck, and East African Holding.
The project is funded by NORAD ( Norwegian Agency for Development Cooperation ) and aims to provide farmers in the greater Addis Abeba urban areas with digital, financial services, and market integration through a digital agri-bank.
Alliance Microfinance AS (AMAS) is a non-profit limited liability company that operates within objectives of providing access to finance to low-income populations in developing countries with aim of supporting, setting up micro-enterprises. AMAZ will be the lead partner and grant manager for the project.
Bakken & Baeck is a Norwegian digital product developer and recently resigned Norway’s most popular payment platform, Vipps. Bakken & Baeck is expected to design relevant digital solutions for this project in Ethiopia.
Norwegian Chruch Aid, an entity that has more than 40 years long presence in Ethiopia is also part of this project.
The other partner of this project is East African Holding, a leading industrial conglomerate in Ethiopia. East Africa Holding will be responsible for developing logistics and distribution capabilities of farmers/producers that work with the conglomerate with the goal of ensuring access to markets.
A statement by Alliance Microfinance AS (AMAS) said, “Through this unique partnership we are confident that the average income of the farmers reached will increase and that new jobs will be created.”
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