UfarmX founder Alexander Zanders builds data-driven credit system to unlock $100 bn for African farmers

While managing a 100-acre farm in Nigeria, Alexander Zanders observed that skilled farmers were held back by lack of inputs, prompting him to test credit-based seed and fertilizer distribution. The experiment tripled yields and doubled revenues, proving that farmers could repay when supported, and generating data to build individual credit profiles. UfarmX now scores more than 17,000 smallholders across Nigeria, Senegal and Liberia, enabling $6.8 million of agricultural commerce with a net default rate of 1.17 % on its insured loans.

The firm works through local agro-dealer retailers, using farmer data as collateral and allowing repayment after harvest. Its next phase involves releasing a credit-scoring API for banks, micro-finance institutions and development finance bodies, aiming to create a scalable financing infrastructure. The company reports gross margins around 82 % and revenue growth of over 200 % in the past year, and has attracted attention from global investors and forums, including a win in Pharrell Williams' Black Ambition Grand Prize and participation at the World Economic Forum in Davos.