After the drop in demand for petrol, oil producing countries are exploring alternative means of trading at the international market. Nigeria, for instance, is circling back to exporting agriculture after neglecting the sector during the rise of industrialization. Though the government already promised to provide subsidies and such for farmers and exporters, some organisations have devised other ways to leverage the industrial age and rise of technology to provide opportunities for farmers across Nigeria.
Agric-tech start-up Farmcrowdy, is a platform that offers farmers opportunities to find investment to scale-up through crowdfunding from sponsors. The organization was awarded a $325,000 grant through Groupe Spéciale Mobile Association’s (GSMA) “Mobile for Development” fund. This will serve as an important investment to push their agenda further by connecting with mobile operators that can provide technical support, as well as provide equity-free funding for the project focused on social development via mobile platforms.
A week before this announcement, Farmcrowdy announced a $1million seed fund led by international and local investors. The seed fund is to allow the start-up scale operations to expand across more cities in Nigeria. They also aim to increase the number of small-scale farmers they work with and increase their platform’s farm followers and supporters. GSMA’s grant, coupled with their seed fund will help push Farmcrowdy operations further and help Nigeria improve agricultural practices, nationwide
Featured Image Credits: Web/Farmcrowdy
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