Why is agricultural sector the least funded sector in Kenya by the formal financial sources despite being the largest sector in terms of GDP contribution (at over 50% GDP contribution directly and indirectly)?

The agricultural sector in Africa is yet to take off despite being the dominant employer and the key contributor to the gross domestic product (GDP) for most countries on the continent.

FSD Kenya’s 2018 experiment with Apollo Agriculture illustrates how to start from a real economy problem and then innovate a suitable financial solution that helps unlock real value.

In the past five years, digital loans have transformed the market for credit in Kenya. For millions of adults, the possibility of borrowing from their phones has opened the door to private, formal consumer credit for the first time.

While both Kenya and Tanzania registered fast uptake of digital credit, a new study by FSD Kenya and CGAP with almost 8000 individuals found considerable differences as well as similarities in the adoption and use of digital credit in the two countries.