UfarmX's Agricultural Revolution Spreads to Senegal to Empower Farmers
Agri-tech firm UfarmX, based in Nigeria, has expanded its blockchain-powered platform to Senegal in an attempt to change the way the younger generation views agriculture and present it as a lucrative and appealing career path.
The company, founded in 2019, utilizes cutting-edge blockchain technology to empower smallholder farmers in rural and underserved communities, acting as a digital bridge within the African agricultural landscape.
CEO Alexander Zanders emphasized that UfarmX goes beyond traditional farming, aiming to revolutionize the way smallholder farmers access resources and markets.
The platform serves as a comprehensive solution, connecting farmers to quality inputs on credit through a transparent blockchain ledger, facilitating market access post-harvest, and providing essential data for scaling operations.
UfarmX, currently supporting over 1,300 farmers, has strategically expanded to Senegal through a partnership with The SEED Project, an NGO founded by Basketball Africa League President Amadou Gallo Fall.
Through this collaboration, UfarmX and The SEED Project offer 2,000 students hands-on experience and education, creating a direct pathway to employment via the UfarmX platform.
Zanders expressed the broader impact of this initiative, stating, "Through UfarmX, we're not just planting seeds in the soil; we're sowing the seeds of economic empowerment, technological innovation, and sustainable growth for Africa's most valuable players in agriculture."
UfarmX, self-funded since its inception, is now seeking external investments and has received a term sheet offer of US$1.7 million from UBA Bank in Senegal.
The startup has also secured US$1.56 million in commitments from undisclosed investment funds.
Zanders highlighted the significance of these achievements in a region where financial entities often shy away from startups, especially in agriculture.
Senegal is not the final destination for UfarmX's expansion.
The startup has recently extended its digital presence into Liberia, collaborating with the Ministry of Agriculture to understand and digitize the unique challenges faced by Liberian farmers.
Zanders outlined the ambitious medium-term expansion strategy, aiming to empower at least 12,000 farmers in 10 different markets.
This strategy reflects UfarmX's commitment to transforming the agricultural landscape, scaling innovative solutions to reach more communities, foster economic growth, and enhance food security across the continent.
Tom Jackson / Disrupt Africa