Seriba is a forty-three year old farmer from the village of Bananzole in southern Mali. Seriba is the married father of four children. On his six hectares of land he grows corn.
With a loan from Kiva, Seriba would be able to buy a semoir, which is a piece of agricultural equipment that plants seed and fertilizer following a modern agricultural method. Seriba wants a semoir so that he can reduce the amount of time it takes for him to plant his land. Currently, Seriba plants his seed and fertilizer by hand, which can take up to one week to plant one hectare. With a semoir, he will be able to cut the amount of time it takes him to plant in more than half. In addition, the semoir will help ensure that he follows a modern planting method, enabling him to increase his harvest and earn additional income.
myAgro is a startup nonprofit organization in West Africa that enables farmers to purchase high-quality agricultural inputs - certified seeds and fertilizer - on layaway through an SMS-based platform and a network of local vendors. Additionally, the organization helps farmers to increase their crop yields by using more effective seeding machines. Kiva lenders’ funds are used to help these farmers afford more labor-reducing and cost-effective seeding machines through loans with low interest rates so that they can increase their yields and improve their quality of life. This Kiva loan will thus be used to provide borrowers with needed goods or services, as opposed to cash or financial credit.
myAgro joined Kiva through our Experimental Partnership Program, and has therefore received a lighter level of due diligence. Accordingly, loans associated with this partner carry a higher level of risk than typical Kiva loans.