Warehouse receipt systems: lessons from Niger
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In Niger, this concept has been adapted by local farmer organizations and microfinance institutions (MFIs). Since its beginnings during the early 1990s, the “warrantage system”, as it is locally known, has become a relatively popular financial product offered by all MFIs in the country. Producer organizations provide their members with storage facilities and also handle their loan transactions. The loans enable farmers to finance several of their household’s income generating activities during the storage period, thereby allowing for smoother cash flows. Revenues from financed short-term activities often enable farmers to pay back the loan without using revenues from the future sale of the stored produce.