How Nigerian agriculture is enjoying Cellulant’s e-wallet and blockchain-based solution

0

Cellulant Corporation – the pan-African technology company based in Kenya is known for developing revolutionary technologies to empower African commerce. Such a technology include blockchain-based Agrikore and Tingg, which are now being used across Africa as well as being imported to countries like Afghanistan.

These technologies have empowered Africa’s agriculture sector in the assurance to leverage on technology to help block inefficiency and wastages in Africa’s agricultural value chain courtesy of its improved payment and marketplace solutions, Tingg and Agrikore.

The Agriculture market in Africa, despite its $330billion size in 2015 and projected to grow to $1Trillion by 2030 is not organized. Agrikore provides this on its block-chain core. It makes this wealth addressable & accessible to all through a comprehensive system consisting of the technology, business processes, and operating models that deliver a systematic organization of the actors in Agriculture in a manner that is extremely de-risked and investable on a large scale.

Tingg, is a payment solution accessible to everyone, while Agrikore, is an innovative platform built on blockchain technology and connects are simplified and connected platforms for all players in the agriculture sector in over 120 African countries.

The summit themed, ‘Technology for Transformation: Connecting Everyone to Nigeria’s $50bn Agribusiness Opportunity & Creating Jobs for Africa’s Youth was attended by development partners including the African Development Bank, Shared Agent Network Expansion Facility (SANEF), Flutterwave and Deposit Money Banks and many food processing companies.

Ken Njoroge, Cellulant’s Co-Chief Executive Officer, has observed that Africa has a comparative advantage in agriculture but needs efficiency in its value chain to achieve the desired impact on food security, job creation and economic development.

“If you bring efficiency into the Agricultural value-chain, ensure that crops don’t rot on farms, trucks operate regularly, there are no youth unemployed in rural areas, and no factory producing below capacity; if we can connect these dots, we can bring efficiency that can power the transformation of Nigeria and Africa all across the board,” he said.

Njoroge notes that Agrikore and Tingg have been tested and affirmed to be connecting everyone in the agriculture farm place while boosting transparency.

“The marketplace and payment platforms are connecting everyone. The payment platform ensures that everyone gets paid in real-time as transactions happen. We know it’s working, we are working with 120 banks on the continent; large businesses are our customers. This is a collaboration that continues to benefit all parties,” he said.

Read also:Cellulant builds first Augmented Reality (AR) with Facebook, loops in Huddah Monroe

Bolaji Akinboro, Co-Chief Executive Officer of Cellulant, notes that Tingg and Agrikore 2.0 provide access to the marketplace, increase transparency and simplifies the whole agricultural value chain.

In the way Uber organized disparate single drivers into an organized ecosystem, Agrikore does the same for agriculture. By organizing the farmers etc in the ecosystem, and easing the flow of providing liquidity into the system, Agrikore incentivizes various elements that make- up the agricultural value chain by ensuring that resources are available to farmers on time.

“Our payment platform allows the farmer, aggregator, supplier, everyone to see how money is flowing in the system. It is for people who want to be part of an ecosystem that is profitable for them and which also provides jobs for hundreds of people,” he said.

Highlighting Cellulant’s strides in improving Africa’s Agric value chain, Akinboro said: “We are not just a technology fintech company; we have the technology and operations via Agrikore. When you combine technology and operations, you can change the world. We are providing technology that makes life better for everyone; Nigerians and Africans.

“Technology is a critical enabler to solve many of the challenges experienced in the agricultural sector. In the last 15 years, Cellulant has actively contributed to connecting all key stakeholders in the value chain, who in the past never interacted with each other. Today, the business has built a marketplace and payments platform that provides access to markets, digital financial services, and opens opportunities for all stakeholders to collaborate better and capture the $50b market opportunity.”

Cellulant is hosting its inaugural partners’ summit in Lagos, Nigeria. The summit themed, ‘Technology for Transformation: Connecting Everyone to Nigeria’s $50bn Agribusiness Opportunity & Creating Jobs for Africa’s Youth was attended by development partners including the African Development Bank, Shared Agent Network Expansion Facility (SANEF), Flutterwave and Deposit Money Banks and many food processing companies.

Read also: Kenyan fintech Cellulant sells $47.5M stake to American investors

Comments are closed.