hiveonline is pleased to announce significant partnership milestones in its mission to drive financial inclusion and foster the growth of the digital economy in Mozambique and Kenya.
Agreements with trading partners, financial services providers and the central bank signed recently set the foundations for hiveonline multi-service platform to offer market access and financial inclusion opportunities to smallholder farming communities across Mozambique.
In 2021, half of all smallholder farmers across Mozambique were paid only in cash and consequently lack any type of digital records that can be used to demonstrate creditworthiness or a track record of delivery to financial services providers. Hiveonline is changing this by helping farmer groups digitise their financial and agricultural records through a simple web app. Records are indelibly recorded on a blockchain ledger to provide tamperproof, trustworthy data that can be shared with wider partners, to access a wider economy of opportunities.
To enhance financial access, hiveonline has partnered with Microbanco Confiança SA, a Mozambican financial institution focusing on rural areas. This partnership will leverage hiveonline’s community finance platforms, to provide valuable data insights, facilitate loans and mitigate lending risks for farmers and cooperatives in Mozambique.
In its commitment to enhance market connectivity, hiveonline has partnered with Tablu Tech, a platform connecting buyers with farmers for reliable produce deliveries. This partnership facilitates trading connections between Tablu Tech’s network of 1,000 buyers and local farmers, savings groups, agricultural associations, and cooperatives within the hiveonline network, streamlining agricultural value chains and driving sustainable economic growth.
hiveonline has been selected by the Central Bank of Mozambique to participate in the 4th edition of their Regulatory Sandbox. This opportunity allows the organisation to closely work with the Central Bank and other key stakeholders in shaping the future of digital finance in Mozambique and become licenced to offer regulated services. By focusing on mobile money, third-party lending, and electronic money, hiveonline’s aim is to extend financial services to underserved communities, promote economic empowerment, and foster the growth of the digital economy.
Additionally, hiveonline is expanding its footprint in Kenya and has signed a memorandum of understanding (MOU) with the Kenya Tea Development Agency Foundation (KTDA Foundation) to explore opportunities for digitising savings groups and cooperatives among the foundation’s 650,000 smallholder tea farmers. Through digitalisation, hiveonline and the KTDA Foundation aim to empower tea farmers and promote sustainable practices within the industry, driving positive change and financial inclusion.
About hiveonline APS:
hiveonline is a startup advancing financial inclusion for unbanked small-holder farming communities in sub saharan Africa, leveraging the power of blockchain technology. hiveonline has been working with social impact organisations in Mozambique, Kenya, Zambia and Lebanon to strengthen over 200 local farmer groups and beneficiaries with the introduction of their sustainable digital finance platform.
Get in touch:
If you are interested in partnering with us, meet us at ChangeNOW 2023 on May 25th and 26th at the Grand Palais Éphémère in Paris or contact our CEO, Sofie Blakstad, at sofie@hiveonline.network.