GCash and Mayani Join Forces to Boost Financial Inclusion in Philippine Agriculture

Source: Startup Story

In a strategic move to address the challenges of rural financial inclusion in the Philippines, finance super app GCash, operated by the country’s first duocorn Mynt, has entered the agrifintech sector through a partnership with Mayani, an agri-fisheries platform connecting smallholder farmers and fishers to buyers.

According to the World Bank in 2023, nearly 60 percent of the nation’s poor are employed in the agriculture, forestry, fishing, and aquaculture industries, making agriculture a crucial economic backbone in the Philippines. However, the credit gap for the sector, as reported by the Banko Sentral ng Pilipinas in 2018, exceeds 360 billion pesos ($6.3 billion), posing significant challenges to the sector’s growth.