In Kenya, Farm Trek develops animal husbandry through technology

(Ecofin Agency) – The livestock sector plays a significant role in Kenya’s economy, but its players still encounter many difficulties. To solve them, new technologies are increasingly seen as the best tools.

Lofte Kesho, a company based in Kenya, enables small livestock farmers located in rural areas to have insurance cover while better managing their herds. On the company’s website, we can read that Lofte Kesho is the breakdown of the Swedish terms Lofte for “promises”, and Kesho which in the local Swahili language means “Tomorrow”. The company claims in a way to fulfill today for breeders, the promises that some make to them for the future.

Livestock is a wealth in Kenya. According to IMF statistics, there are more than 18 million head of cattle, as many goats and sheep, and even more chickens. However, small farmers still have financial problems, and it is difficult for them to access credit to develop their activity. The financial institutions believe that they do not have good guarantees.

Bernard Njathi, one of the founders of Lofte Kesho, resolved to find a solution. The Farm Trek platform allows Kenyan farmers to have better control of their herds thanks to secure animal marking, based on the Blockchain. Banks can thus have better visibility and accept their livestock as collateral for loans.

Climate variations are also factors affecting animal husbandry. Lofte Kesho to respond to this, has integrated an insurance service into its platform by signing a partnership with Micro Insurance. The international financial group offers risk protection for the benefit of people who do not have large incomes in less developed countries.

Lofte Kesho’s initiative is relevant in Africa, where around 60% of the workforce is devoted to the agro-pastoral sector. In Kenya, a major livestock country, the company hopes to help more than 500,000 farmers with its service.

Bernard Njathi has used his long years of experience in the field where he learned to measure the needs of rural herders, but also in the sale of insurance products, and later in the design of technological solutions used in finance. . Lofte Kesho received the Glovo Innovation Award on April 29, 2022 for its Farm Trek platform. The company is now solicited by government projects that want to put it at the service of as many people as possible.

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