UASC Building, 1 Serenity Road, off Karshi-Apo Bye-pass Way, Karshi, FCT, Abuja, and all UASC Centres across Nigeria +234-807-307-1841 info@agricsolutions.org usreedt@gmail.com
Financial Inclusion Solutions
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ACCSA (Agri-Cooperatives Credit & Savings Advisory) Services
Agrisccos Ltd has well-equipped and functional offices at its Agro-Services Centres (UASC) physically located in Rural & Semi-urban Areas across Nigeria
More than 90% of rural and semi-urban residents in Nigeria are low income earners of average of less than 5USD per day. This low income arises from low investments in their businesses arising from low savings. At ASCCOS, we work with MPCs to support their members financially in order to upscale their business investment to make more income and be able to save. Data shows that MPCs have demonstrated the capacity to sensitize and encourage their members to save and invest in their businesses.
CAFFAS: Cooperatives Agric-Finance Facilitation Advisory Services
It has been estimated that there over 250,000 agro-based cooperative societies in Nigeria with an aggregate membership of more than 50million. Formal lending to these cooperative societies and their members has been very low due to stringent terms and conditions by commercial banks.
As Super-agent, while we play our primary role of aggregating and on-boarding agro-based cooperative societies and their members to become customers of our mother bank, we understand the need to provide these cooperative societies with sound financial advisory services that can help in structuring and guiding them to directly or indirectly meet the basic requirements for accessing funds in the form of grants, equity or debt financing from our mother Bank and/or local and international development finance organizations.
Please click HERE to contact us for more information on CAFFAS or visit any of our UASC Centres nearest to you.
ABLE (Agri-Business Loans for Enterprises) Services
Agribusiness MSMEs in the rural and semi-urban areas in Nigeria at the most disadvantaged in accessing credit and loans from the formal banking sector. This is mainly because their businesses are unstructured, highly risky and cannot meet the stringent lending conditions of deposit money banks (DMBs). Also, given the remoteness of their locations, DMBs lack the requisite capacity to effectively monitor loans given to these agribusiness MSMEs. This has created a huge gap and lopsidedness in funding of agribusiness sector, the foundation of Nigeria's economy. To bridge this funding gap, Agrisccos Ltd continues to provide several support services to agro-based multi-purpose cooperative societies (MPCs) in the rural and semi-urban areas to enable them to provide customized agribusiness loans for their members based on principles guiding cooperatives lending which includes acceptance of some of the conditions outside the risk acceptance criteria of DMBs.
Please click HERE to contact us for more information on ABLEs or visit any of our UASC Centres nearest to you.
Given the seasonality of crop farming in Nigeria, most farmers harvest at the same time thereby forcing down harvest prices. HACSL is a short-term credit which MPCs avail their members who are agro-processors to bulk purchase and stockpile raw materials especially grains (maize, paddy rice, sorghum, beans, groundnut, cassava, sesame, etc) in warehouses during the harvest period to take advantage of the lower prices for increased profit margin.
Seasonality of crop farming in Nigeria implies that most farmers harvest at the same time at the onset of the dry season. HACSL is a short-term credit which MPCs avail their members who are agro-traders to bulk purchase, aggregate and stockpile grains (maize, paddy rice, sorghum, beans, groundnut, sesame, etc) in warehouses during the harvest period when prices are lower for sale to processors or exporters immediately via LPO issuance or later during the off-season when prices are higher.
There are several empirical evidence that, prior to onset of the wet farming season, most farmers in Nigeria are often in dire need of funds to support their crop farming business. WACEF is a short-term loan which MPCs avail their members who are crop farmers to enable them meet the working capital needs of their crop farming business. The loan is for buying improved seeds, fertilizers, herbicides, pesticides, mechanization and extension services before the onset of the wet farming season.
Given the seasonality of crop farming in Nigeria, most farmers harvest at the same time thereby forcing down harvest prices. HACSL is a short-term credit which MPCs avail their members who are agro-processors to bulk purchase and stockpile raw materials especially grains (maize, paddy rice, sorghum, beans, groundnut, cassava, sesame, etc) in warehouses during the harvest period to take advantage of the lower prices for increased profit margin.
Most times agro-MSMEs are supported with loans and credit either from the formal or informal sector, efforts are not made by the lenders to encourage these agro-MSMEs to save for the purpose of meeting personal or business financial obligations. At ASCCOS Ltd, we work with MPCs where these agro-MSMEs are members to educate and encourage their members to save a portion of their increased income arising from the loans and credit advanced to these agro-MSMEs.
We have come to realize that many people in agribusiness do not save partly because of their low income, and partly because of their ignorance of the numerous benefits of savings. At ASCCOS Ltd, we work with MPCs to educate their members in agro-MSMEs business on the need, importance and benefits of saving part of their earnings in their bank accounts with DMBs.
Nigeria’s agriculture is rain-fed, hence highly seasonal with peak periods when funds are highly needed, and down periods when MPC members who are farmers, agro-input dealers or agro-merchants have their funds idle for 3-4 months before the start of next farming & trading cycle. At ASCCOS Ltd, we work with MPCs to encourage these members to convince their business associates & friends (third party) to open current accounts with the DMB on which both third party and MPC members earn interests.
Most times agro-MSMEs are supported with loans and credit either from the formal or informal sector, efforts are not made by the lenders to encourage these agro-MSMEs to save for the purpose of meeting personal or business financial obligations. At ASCCOS Ltd, we work with MPCs where these agro-MSMEs are members to educate and encourage their members to save a portion of their increased income arising from the loans and credit advanced to these agro-MSMEs.
SEEM (Savings Encouragement, Enhancement & Mobilization) Services
Nigeria's agriculture is still dependent on smallholder farmers who cultivate less than ten hectares of land per farmer, as the produce over 85% of food and fibre consumed by household and industry. Besides, these farmers depend on the natural rainfall, hence can farm only once in a year. These challenges have, over the years, kept these farmers in a vicious cycle of poverty and economic misery.
At ASCCOS Ltd, we recognize the critical importance of farming as the foundation of Nigeria's economy and has designed several support services to ensure that customized agro-finance products are availed to these farmers through their MPCs. This is intended to assist these farmers upscale their investments in farming to increase their incomes and be able to save part of their incomes for their business expansion and diversification. We work with MPCs to ensure that farmers and other agro-MSMEs in the rural and semi-urban areas are encouraged and sensitized to save in the following ways in order to contribute in our objective of low-cost fund mobilization for our mother DMBs which we are the mega agent.
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SMALL (Savings Mobilization on Agribusiness Lending & Loans)
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Thrift Savings
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3PICA: 3rd Party Introducer Current Account
Please click HERE to contact us for more information on ABLEs or visit any of our UASC Centres nearest to you.
AFRIC (Agri-Facilitating Rural Investment Credit) Services
In Nigeria today, more than 85% of food and fibre for household and industrial consumption are produced by farmers in the rural and semi-urban areas. Over the years, the rural-urban migration of young and able-bodied men and women has been due to paucity of infrastructures in these areas. This has drastically affected production and evacuation of farm produce, socioeconomic activities and the quality of life in the rural and semi-urban areas.
At Agrisccos Ltd, we understand the importance roles of rural and semi-urban economies to the overall development of the agricultural sectors and Nigeria's economy. To this end, we have designed the Agri-Facilitating Rural Investment Credit Services (AFRICS) to support agro-based Multi-Purpose Cooperatives Societies (MPCs) to provide AFRIC for their members residing and working in rural and semi-urban communities through the provision of the following micro-infrastructures.
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Road grading, culverts and bridges
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Pipe borne water
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Irrigation facilities
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Solar powered electricity
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Schools
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Public toilets
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Markets
Please click HERE to contact us for more information on ABLEs or visit any of our UASC Centres nearest to you.
There is huge infrastructure deficit in Nigeria's rural and semi-urban areas. AFRIC is a mid-term loan which MPCs avail their members against a confirmed expected near future cash inflows for the provision of micro-amenities such as channeled flood irrigation of farmlands in the communities where these MPCs members reside and work. Some of these communities have the potentials for all year round farming but are incapacitated by absence of irrigation which adversely affects farming activities.
There is huge infrastructure deficit in Nigeria's rural and semi-urban areas. AFRIC is a mid-term loan which MPCs avail their members against a confirmed expected near future cash inflows for the provision of micro-amenities such as graded roads in the communities where these MPCs members reside and work. Some of these communities have been cut off and inaccessible due to bad roads thereby adversely affecting socioeconomic and agribusiness activities.
There is huge infrastructure deficit in Nigeria's rural and semi-urban areas. AFRIC is a mid-term loan which MPCs avail their members against a confirmed expected near future cash inflows for the provision of micro-amenities such as road culverts in the communities where these MPCs members reside and work. Some of these communities have been cut off and inaccessible due to lack of culverts thereby adversely affecting socioeconomic and agribusiness activities.
There is huge infrastructure deficit in Nigeria's rural and semi-urban areas. AFRIC is a mid-term loan which MPCs avail their members against a confirmed expected near future cash inflows for the provision of micro-amenities such as channeled flood irrigation of farmlands in the communities where these MPCs members reside and work. Some of these communities have the potentials for all year round farming but are incapacitated by absence of irrigation which adversely affects farming activities.
