EcoFarmer recently announced that they will now be offering a Diaspora Agriculture Finance Plan that allows people in the diaspora to buy farming equipment and inputs for family and friends through Cassava Remit.
Whilst the service seems to be unavailable on the Cassava Remit website at the time of writing EcoFarmer ads concerning the service point to it being added there at some point.
EcoFarmer has partnered with a number of shops including Agricura, EasiSeeds, Windmill to provide the inputs and equipment that will be made available in addition to existing services such as airtime top-up, cash pick-up and mobile money transfer already offered through Cassava Remit.
Whilst the addition of such a service will probably lessen the burden of many rural and urban dwellers failing to afford inputs and equipment it will also no doubt help Cassava and Econet by increasing their access to foreign currency which can be used to improve and maintain Econet’s network infrastructure.
It’s pretty interesting that Econet continues to add as many remittance services as possible whilst their competitors NetOne and Telecel haven’t invested in offering such services to also improve their forex inflows.
Interestingly, even banks like BancABC recently announced a partnership with remittance startup Senditoo – another move meant to improve a company’s access to foreign currency in these trying times.