KARACHI: Karandaaz Pakistan has launched the second round of its ‘Digital Financing for Agriculture Challenge’ (DFAC) to enhance financial access for smallholder farmers. This initiative aims to support innovative digital solutions that create an affordable, accessible and sustainable formal financing ecosystem, said a press release on Wednesday.
DFAC Round 2 seeks digital financing solutions such as collateral-free financing, electronic warehouse receipt financing, digitisation of the aarthi model, and input financing to address these challenges.
Karandaaz Pakistan invites fintech and agritech companies, banks and financial institutions to apply with innovative financial solutions. Per its post on social media, the application deadline is April 14.
Currently, only 22.1 per cent of farmers in Pakistan have access to institutional loans, leaving the majority dependent on informal credit sources with unfavourable terms. Smallholder farmers, who cultivate less than 12.5 acres, face multiple barriers, including lack of formal credit and inadequate storage facilities, which hinder their financial stability. CEO of Karandaaz Pakistan Waqasul Hasan stressed that agricultural finance needs tech-based solutions to move beyond traditional lending and create a sustainable system for smallholder farmers.
Officials of Abhi and Matco foods posing for a photo. —Abhi website/FileKARACHI: ABHI, an embedded finance platform...
Paper being sent from a roller to a cutting machine.— Security-papers website/File KARACHI: Security Papers...
HUBCO logo can be seen. —TheNews/FileKARACHI: Hub Power Company Ltd reported a net profit of Rs34.2 billion for...
Lucky Investment officials posing for photo after inauguration of their new office at the Finance and Trade Centre,...
An undated image of gold jewelry displayed at a store. — AFP/FileKARACHI: After a break of a few days, gold prices...
A representational image showing workers at a fuel processing plant. — PPL website/FileKARACHI: Pakistan Petroleum...