Business

Food security: Agri-tech firm to empower 500,000 farmers

The management of Farmcrowdy, Nigeria’s first and leading agri-tech company has revealed that it is targeting about 500,000 farmers in its network next year, leapfrogging from the current 300,000 farmers, to contribute immensely to Nigeria’s food security and sufficiency.

In addition, the company disclosed that it spent about N5.7 billion to finance about 25,837 farmers nationwide in order to boost food productivity and also increased their incomes by 80 per cent. Disclosing these at the marking of Farm crowdy fourth year anniversary in business in Lagos recently, the Founder and Chief Executive Officer, Onyeka Akumah, stated that the company’s footprint in the development and growth of Nigeria’s agriculture was already known globally within the four years of establishing Farmcrowdy as Nigeria’s first and leading Agri-tech company.

According to him, the company was founded in November 2016 by five young Nigerians led by himself, with the aim of empowering farmers by connecting them to alternative financing and market access via a crowdfunding platform. He noted that the management has today announced that it will extend its service in agriculture beyond financing into using technology to boost the food value chain as well as the launch of a new E-commerce platform and its trading and aggregation platform for smallholder farmers in its bid to boost food security in the country.

In light of this new development and the opportunities that exist in the agriculture value chain, the Farmcrowdy’s Founder explained that the company will focus on the use of technology to build tools and resources that farmers will need to boost food security in the country through six business focus.

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