Nagro Agro Credito is a Brazilian fintech company specializing in tailored financial solutions for the agricultural sector. They focus on empowering women farmers by providing direct access to credit and ensuring they are the true operators of their businesses. Using its advanced data platform, AgriSK, Nagro sought to address a significant challenge: the misuse of women’s identities in credit applications. Women were often used as “laranjas” or fronts for their male partners, who were the actual managers of the farms. This practice led to poorly managed loans and higher default rates. To counter this issue, AgriSK restructured its credit assessment processes and implemented new protocols to verify that the women listed on loan applications were indeed the active managers of their agricultural enterprises. This intervention had a remarkable impact, reducing default rates by 20% and empowering over 1,500 women farmers across Brazil. One key aspect of the initiative was the introduction of a direct engagement strategy, where Nagro’s credit officers worked closely with women applicants to better understand their roles in the business, providing them with the necessary support and resources to take on more active management roles. This approach not only encouraged professionalism within their businesses but also led to tangible success stories. For example, Yara, a rural producer from Minas Gerais, used the credit received from Nagro to expand her livestock, upgrade her farm’s infrastructure and significantly boost her revenue. Her initial success allowed her to reinvest in her business, leading to sustained growth and long-term success. This initiative underscores the importance of directly empowering women in agriculture and has created a lasting impact on their professionalization and economic success.CASE STUDY 2 Empowering genuine female agricultural entrepreneurs – Nagro Agro Credito, Brazil Access to finance is a crucial catalyst for progress and empowerment in agriculture. Without appropriate financial services such as credit, savings and insurance, women in agriculture remain at a disadvantage. Gender-inclusive agritech solutions have the potential to unlock this access, driving innovation and sustainable development. Fintech institutions can play a pivotal role in advancing gender inclusivity in the agricultural sector by providing tailored financial solutions and bridging critical gaps. Gustavo Alves, Chief Executive Officer, Nagro Recommendation 3: Promotion To maximize impact, it is crucial to effectively promote the product or solution to the targeted audience (women farmers in this case). Service providers should note that any promotional efforts should emphasize the advantages and relevance of the product. The following strategies can be useful to promote gender-inclusive agritech solutions: 1. Make use of the demonstration effect of influential women/champion farmers to boost uptake: The demonstration effect created by champion farmers or local influencers using technology solutions is critical in increasing uptake. This is crucial when the target customer segment may not have prior experience with technology. While finding influencers for creating this demonstration effect, service providers should identify women champions and use their advocacy to mobilize other women to adopt technology. These influencers could include progressive women farmers and leaders from grassroots governance structures. 2. Develop and deploy a communication campaign: A campaign that establishes the role of women in agriculture and shares success stories of technology adoption can boost adoption. Interviews with sector stakeholders revealed that the role of women in agriculture and their contributions to farms remain undervalued, particularly in rural areas. Agritech for Women Farmers: A Business Case for Inclusive Growth 20

Agritech for Women Farmers 2024