First Access receives support from MasterCard Foundation

The 2017 competition launch coincides with the announcement of the 2016 Innovation Competition
winners. Three projects have been awarded support by the Fund to implement innovative financial
solutions. A total of US$3,000,000 has been committed to these firms:
• Ibero Uganda Limited
First Access
• Letshego Financial Services Mozambique

In partnership with Esoko, First Access will develop Africa’s first-of-its-kind
rural agricultural credit-scoring platform for lending institutions. The two
institutions will pioneer the acquisition and coordination of disparate data
sets, from weather data to farmer profiles and other agricultural input data,
to deliver more thorough borrower credit profiles and drive financial
accessibility for the rural consumer. With these data sets, the team will draw
on its deep experience in establishing borrower credit profiles from thin files
in informal markets. This will help institutions collect better information
faster, leading to improved decision-making while dramatically reducing the
cost of lending.