Cellulant recently launched a report highlighting the impact of technology on transforming agriculture across Africa particularly with the “Nigeria: Growth Enhancement Support Scheme (GES) Dry Season, 2016.” The report highlights key progress on food security and financial inclusion for farmers across 30 states in Nigeria.
The program set out to service 500,000 farmer-households in 4 value chains, GES accomplished 92% of the targeted subsidised service, but as a result on-boarded an additional 200,000 farmers into a financial support platform. 400 Agribusinesses were created and more than 1000 jobs created as a result of the program.
Key take-aways from the report:
- Since 2011, by use of technology, governments have been able to eliminate corruption, promote transparency and transform the Agricultural sector
- In Nigeria where there is a clear disconnect between Broad Street (Financial sector) and Main Street (our inner cities and rural areas), interventions like GES become very important when it comes to the creation of real growth in the economy.
- With the program impacting more than 350,000 farmers, enough food will be produced to feed roughly 120M Nigerians for two months.
- In 2017, private sectors and financial partners will begin to test pilot the injection of loans into the system. The goal is to achieve 1,736,445 farmers borrowing between June 2017 to July 2018.
This transformation was made possible by the AgriKore platform. Also known as the “e-wallet” platform, AgriKore was developed by Cellulant for Nigeria in 2012. The Agrikore platform at its core, provides the tools for the creation of a structured agribusiness economy (agriconomy) in Africa because the platform
- ensures a start to end management of interventions (schemes),
- provides visibility of the cashflow movements within the schemes,
- enables the management of accounts,
- executes payment and reconciliation processes, and
- enables as a start an end to end management of services and products catalogue and inventories.
Liberia is the first country outside of Nigeria to have adopted and implemented the platform and all its elements fully. Other countries such as Togo and Malawi are in advanced stages of replicating this system. Governments from the Middle East have also indicated interest in the implementation of the AgriKore platform.