Myagro Farms

MYAGRO'S UNIQUE MOBILE LAYAWAY PLATFORM ALLOWS FARMERS TO USE THEIR MOBILE PHONES TO PURCHASE SEEDS AND FERTILIZER IN SMALL INCREMENTS (SEE SCHEDULE O FOR CONTINUATION)

FIELD & FARMERS PROGRAMS - MYAGRO HAS BUILT A SCALABLE, REPLICABLE MODEL THAT COVERS NEARLY 40% OF ITS FIELD COSTS AND IS ON TRACK TO COVER 100% OF FIELD COSTS. A KEY TO THIS CHANGE IS THE R&D MYAGRO DID TO EQUIP LOCAL ENTREPRENEURS WITH A SMARTPHONE TO MARKET AGRICULTURAL PACKAGES AND SERVE AS THE PAY POINT FOR FARMERS WHO WANT TO ENROLL AND PAY ON LAYAWAY FOR SEEDS AND FERTILIZER PACKAGES. BESIDES, MYAGRO LEVERAGES SAVING GROUPS (THERE ARE 18 MILLION GLOBALLY) AS A DISTRIBUTION CHANNEL TO REACH FARMERS IN RURAL, REMOTE VILLAGES. THESE TWO COMPONENTS HELP MYAGRO BRIDGE WHAT IS COMMONLY THE HARDEST TO OVERCOME FOR BUILDING SUSTAINABLE FINANCIAL TOOLS FOR FARMERS: CUSTOMER TRUST AND CLIENT DENSITY. MYAGRO WORKS IN MALI, SENEGAL, AND TANZANIA, WHERE ~75% OF THE POPULATION WORKS IN AGRICULTURE. OUR TARGET AUDIENCE IS SMALLHOLDER FARMERS LIVING ON < $2/DAY, AND 60% OF MYAGRO'S CUSTOMERS ARE WOMEN. LESS THAN 11% HAVE ACCESS TO A FORMAL BANK ACCOUNT, AND 12% HAVE ACCESS TO MOBILE MONEY (WORLD BANK). THERE WERE APPROXIMATELY 115,000 ENROLLED FARMERS DURING CALENDAR YEAR 2022.

MOBILE TECHNOLOGY DEVELOPMENT - AT THE OUTSET OF EACH AGRICULTURAL SEASON, PARTICIPATING FARMERS SIGN UP TO PURCHASE A PACKAGE OF SEEDS, FERTILIZER, TOOLS, AND TRAINING. PRICES AND CONTENTS OF THE PACKAGE ARE TAILORED TO THE LAND AREA AND CROP MIX THAT EACH FARMER INTENDS TO PLANT. OVER THE YEAR, FARMERS USE MOBILE LAYAWAY TO PAY FOR EACH PACKAGE LITTLE BY LITTLE. TO MAKE PAYMENTS, FARMERS BUY PREPAID SCRATCH CARDS AT A PAY POINT IN THEIR VILLAGE - SIMILAR TO PURCHASING PREPAID MOBILE MINUTES - OR CHOOSE TO PAY DIRECTLY THROUGH MOBILE MONEY. EACH PAYMENT ACCUMULATES IN A FARMER'S MYAGRO ACCOUNT UNTIL THE FULL COST OF THE PACKAGE THEY HAVE SIGNED UP FOR IS COVERED. THE MOBILE LAYAWAY SYSTEM IS A REAL-TIME, TRANSPARENT, AND RELIABLE WAY FOR FARMERS TO INVEST IN THEIR FARM. THERE WERE APPROXIMATELY 3,500 USERS ON MYAGROS'S MOBILE TECHNOLOGY DURING CALENDAR YEAR 2022.

AGRICULTURAL RESEARCH AND HARVEST EVALUATION PROGRAMS - MYAGRO FOCUSES ON DATA-DRIVEN SELF-REFLECTION AND ORGANIZATIONAL IMPROVEMENT TO DELIVER AS MUCH VALUE TO FARMERS AS POSSIBLE AND TO BETTER UNDERSTAND THE BROADER IMPACTS THAT ITS PROGRAMS ARE HAVING ON RURAL COMMUNITIES. THE TWO MOST IMPORTANT INDICATORS THAT MYAGRO MEASURES ARE "INCREASE IN HARVEST YIELD"INCREMENTAL NET INCOME EARNED." THE PROGRAM HAS RESULTED IN 50 - 100% INCREASES IN YIELDS, AND AN AVERAGE ANNUAL INCREASE IN FARMER INCOMES OF $178/FARMER ($0.40 PER DAY). FOR HOUSEHOLDS LIVING ON LESS THAN $2 PER DAY, THESE RESULTS HAVE TRANSFORMATIVE EFFECTS, ALLOWING THEM TO PROVIDE MORE FOOD FOR THEIR FAMILIES, COVER SCHOOL AND MEDICAL FEES, AND BETTER PLAN FOR THEIR FUTURE. THERE WERE APPROXIMATELY 30,000 PARTICIPANTS IN RESEARCH DURING CALENDAR YEAR 2022.