EzyAgric, an agritech startup based in Uganda announced that it has entered a partnership with Pezesha, a Pan-African fintech startup to offer Buy Now Pay later (BNPL) services to agro-inputs merchants all over Uganda.
Founded in 2015 by Esther Karwera, George William Luyinda, EzyAgric is an agtech company that integrates ICT in the delivery of production and marketing services to farmers, and value chain digitization to agribusinesses that work with farmers. It uses its value chain digitization platform and our network of community-based agricultural service providers, village agents, to bridge the information and service delivery gap between farmers and agribusinesses.
With this new BNPL offering, agro-inputs distributors working with EzyAgric will be able to apply for inventory financing in the form of short-term credit to buy genuine and affordable inputs stock right when they need it and pay for it later.
With just-in-time financing, EzyAgric’s merchants are able to access instant working capital and increase their inventory numbers as farmers start to get ready for the new season in Uganda.
According to EzyAgric CEO, George William Luyinda, “As demand for Buy Now Pay Later services grows in Uganda, our customers have made it clear that the agriculture sector should not be excluded in the wave that is heralding more inclusive financial services in the country. The merchants and farmers trusting EzyAgric to deliver quality farm inputs to them want greater choice and more flexible payment options whenever they shop with us. Having Pezesha’s rock-solid digital lending infrastructure integrated within EzyAgric means that we can act quickly to answer the needs of the underserved agro-focused small-to-medium-sized businesses (SMBs) in Uganda while increasing our own user retention and profitability.”
Pezesha recently raised $11 million to increase its presence in East Africa and enter into the West African market.
“We are excited about our partnership with EzyAgric to provide inventory needs and working capital to their merchants. These merchants are underserved as they are not able to access affordable credit due to them being scattered in rural areas and limited information to determine their ability for loan repayment. With an already developed digital merchant network on a single platform – EzyAgric; Pezesha Uganda is now able to serve a wide range of merchants. The access to our convenient and affordable loans will enable the merchants to stock critical seasonal inputs ahead of farming seasons,” said Jessica Valerie Tusiime, Pezesha’s Operations Lead in Uganda.
