According to The New Times Rwanda, BK TecHouse Ltd, a technology company located at Kigali, Rwanda has introduced a new technology platform that will increase funding of the agriculture sector and avoid unnecessary financial loss by farmers. On May 14, BK TecHouse Ltd along side Rwanda Agriculture Board (RAB) and the Private Sector Federation (PSF) held a one-day meeting with the public and private institutions in agriculture as well as beneficiaries of the agro-input subsidy program (Farmers & agro-input suppliers, dealers and distributors) to discuss on the use of the system.
The platform will improve agricultural productivity by giving lenders assurance that the money they lend will be used exactly for the right purpose, officials at Bank of Kigali’s BK TecHouse say. The technology, called Smart Nkunganire System (SNS), will ensure that farmers comply with recommended best farming practices such as, quality and quantity of agro-inputs to qualify for the loan; leading to higher quantity and better quality of harvest.
The loans will also be season based with an expiration date in case the farmer does not use it, so that it can be allocated to other investments.