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Talanta Finance Limited

Talanta Finance Limited

Talanta Finance Ltd, is a tier IV microfinance institution registered in 2006, it is headquartered in Gulu with a branch in Kitgum. The company specializes in financial services to the agricultural value chains and related enterprises in Northern Uganda. Talanta has since inception served a growing number of clients that now exceeds 4000 and have a current portfolio of over 3 billion Uganda shillings in loan assets

The farming production system in Northern Uganda remains a small subsistence one, dependent on family labor. The productivity (quantity) and the quality of the produce is poor, and is commonly sold hurriedly to exploitative middle men at very low prices. From our experience, the causes of this situation are the following: Limited access to affordable finance to support production, Limited access to quality agro-inputs especially seeds, Limited access to affordable farming mechanization services and equipment, Limited availability of harvesting and post-harvest handling technology and services, Absence of on farm or near farm storage facilities for harvested crops, No access to agricultural insurance to mitigate crop loss due to weather failure and Limited direct links to organized national and regional buyers (Agro Processors/Exporters)

The above situation has been made worse by Covid 19 pandemic which has imposed restrictions in movement, made logistics more expensive farther restraining the capacity by farmers to access services

Talanta Finance in partnership with USAID Feed the Future Uganda, IAM program is putting in place a digital trading platform that brings together agro-inputs providers, mechanization service providers, finance and insurance services providers and produce buyers to interact and transact with one another through a digital application accessible by mobile phone. This will ensure that participating farmers have access to all the needed services from inputs mechanization services, finance and insurance, harvesting and storage services and finally access to buyers, in one interactive eco-system, conveniently accessible by phone.

PROGRESS SO FAR

  • The digital platform software application is being developed, and will be up and running with initial 5000 farmers by end of November 2020, with plans to scale up to 20,000 farmers by Dec 2022.
  • Talanta is in touch with the farmer group leaders of the initial 5000 farmers that are going to be profiled and enrolled unto the platform
  • 285 youth have been trained from Across Acholi Sub Region in small scale farming technology to offer land preparation, crop management, harvesting and post-harvest handling services to the farmers on the digital platform.
  • Talanta has identified 4 supplies of appropriate small-scale mechanization equipment and is preparing the Youth to uptake loans to acquire the equipment.
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