Africa’s leading Agri-Fintech company Tingo Mobile in a bid to boost the productivity of Nigerian farmers has entered into a Memorandum of Understanding (MOU) with All Farmers Association of Nigeria (AFAN) to provide smartphones and farm inputs in form of loan to about 20 million farmers across the country.
The smartphone has an application that allows farmers to communicate with the rest of the world as well as transact.
On the other hand, Tingo Mobile will provide loans to farmers which will come as farm inputs like seed, tractors, fertilizer, chemicals, cash loans, and device service, then when the farmers harvest, they will repay their loans in 36 months with their farm produce.
The Chief Commercial Officer of Tingo Mobile, Ayoola Olaide said they would aggregate farmers and provide them with telecommunications and Fintech solutions that allows them to access the global markets.
He further stated that the initiative would also have gadgets for farmers which they would use to upload their farm produce and also be able to sell and receive their payment at a go.
In his words, “We aggregate farmers all over the country, providing them with telecommunications and Fintech solutions that allow farmers to access the global markets and be able to give many incentives facilities, and materials that will help farmers to be able to make sure that their products meet international standard and they have access to the global market.
“Our business would allow us to give farmers mobile gadgets and these gadgets can be repaid over a period of 36 months with the least arrangements. With this gadget, farmers will have voice and data calls so that they can be able to upload their farm produce and also be able to sell and receive their payments at a go.
“As technology advances, we are also coming up with more numerous solutions and we have partners all over the world. We have seen that all over the years, the rural communities have been neglected and we know that food is actually the most essential thing around the world, and if we concentrate on the agricultural sector, we will be able to change the world.
“With this initiative, we believe that our collaboration with AFAN will provide farmers with everything needed for them to be able to do well in their businesses.”
Tingo’s partnership with the All Farmers Association of Nigeria (AFAN) is very commendable, as right now there is a global food crisis that has continued to cause severe hunger in nations with Nigeria inclusive.
Through this initiative, it will increase food output in the country which will address the problem of hunger and malnutrition that has led to the loss of lives.