Fintech firm Avenews has partnered with the Kenyan government and private sector to ease credit access by agriculture-based Small and Medium Enterprises (Agri-SMEs).
Avenews Unveiled on Thursday, the agreement promises Ksh.2.5 billion in funding by 2025, directly benefiting farmers.
Emmanuel Murai, Avenews’ Country Manager, pointed out the struggles Agri-SMEs endure with informal lending. “Farmers often turn to expensive, unreliable sources because formal loan processes are slow and cumbersome, causing them to miss out on growth,” he said.
To counter this, Avenews plans to roll out the Ksh.2.5 billion with support from multiple partners, while also raising awareness to boost farm productivity and open new funding channels.
The initiative will lean on private sector players, including Credit Reference Bureaus (CRBs), to smooth the credit process.
“Teaming up with industry leaders allows us to scale our efforts and make a bigger difference,” Murai added.
Gideon Kipyakwai, CEO of Metropol CRB, who attended the launch, explained why agribusinesses often face loan rejections.
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“Unpredictable cash flows make financial institutions wary,” said Kipyakwai.
Avenews will address this by adopting Metropol’s Agroclimatica tool, which uses scientific data to analyze risks tied to climate, soil, crops, and livestock.
“Backed by the Central Bank of Kenya, Agroclimatica offers detailed risk insights, enabling Avenews to predict cash flows, support sustainable farming, and reduce lending risks,” added Kipyakwai.
Moses Kimani, Advisor to the Principal Secretary of the State Department for Livestock, hailed the move as a boost to government efforts.
“We’re already cutting costs across the agricultural chain and introducing animal tracking to help farmers access credit and insurance,” he said. “This funding strengthens our push for financial inclusion.”
Avenews, active in Kenya for three years, has a track record of supporting Agri-SMEs. This collaboration marks a bold step toward empowering the nation’s agricultural sector.
Metropol CRB Chief Executive, Gideon Kipyakwai
