For decades, Nigerian farmers have formed the backbone of the nation’s economy feeding millions, sustaining local markets, and preserving generational livelihoods. Yet, they remain one of the most financially underserved groups.
Lacking formal credit histories, registered collateral, or access to conventional banking, many farmers have been shut out of traditional financing. But a groundbreaking collaboration between SeedFi, a Nigerian fintech company, and Winich Farms, an agritech platform, is set to change that.
Together, they are introducing produce-collateralised loans a revolutionary financing model that allows farmers to use stored crops as collateral, bypassing the need for conventional documentation or asset-based guarantees.
Launching in May 2025, this pilot initiative will give over 700 farmers access to flexible, unrestricted funding—empowering them to invest in land, tools, processing, and more on their own terms.
“Farmers are the foundation of our economy. They deserve the same financial opportunities as every other sector,” says Pelumi Alli, CEO and co-founder of SeedFi. “This partnership ensures that their hard work finally translates into creditworthiness and long-term growth.”
Unlike traditional loans, these funds come with no usage restrictions, giving farmers the freedom to decide how best to grow their businesses.
Attai Riches, CEO of Winich Farms, echoes this mission:
“By enabling farmers to use crops stored in our warehouses as collateral, we’re eliminating the barriers posed by traditional financing systems. The farmers choose how to use the funds—on their own terms.”
This collaboration marks another bold step in SeedFi’s vision of building inclusive financial systems—from farmers and small businesses to underserved individuals across Nigeria. It’s not just about lending; it’s about empowering.
By reimagining access to credit, SeedFi and Winich Farms are not only supporting agriculture—they’re driving food security, rural development, and national economic resilience.
Credit: Nairametrics
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