Carolyn Commons is a Marketing Manager and Investment Officer at Development Innovation...
Mobile Layaway and Rent-to-Own: Bringing an Innovative Savings Solution to the Rural Poor for Small-Scale Irrigation Pump Purchases
To test whether Mobile Layaway and Rent-to-Own programs increase the use of irrigation technologies among farmers, and how returns change from using these financing schemes.
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About This Innovation
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Status Update
The main goal of this project is to test whether Mobile Layaway and Rent-to-Own programs can increase take-up of irrigation technologies among Kenyan farmers, especially the poor. A second goal of the project is to estimate how the returns from acquiring and using a pump change with the financing scheme used to acquire it.
How it Works
The two financing solutions will be tested against each other and be compared with the traditional cash payment model. Results from the study will also help demonstrate the viability at scale of each financing mechanism and also how they could serve more broadly as means for breaking down barriers for asset acquisition for rural African farmers.
Next Steps
KickStart International estimates that around 800,000 rural farming families (or around 4 million people) in Kenya could benefit from using our shallow water irrigation pumps. KickStart to date has sold 70,000 pumps in Kenya. It is anticipated that the results will guide KickStart in wide-spread implementation of one or both of the financing services in the countries where they work.