An Agri-Fintech Company, Tingo Mobile has entered into a Memorandum of Agreement (MoA) with the All Farmers Association of Nigeria (AFAN) to provide gadgets, farm inputs in the form of loans of about 20 million farmers across the country.
In the MoA, AFAN is expected to stand for farmers to access these credit facilities and repay within 36 months, using their farm produce.
Tingo will provide inputs such as fertilizers, sprayers, tractors, chemicals and more for 20 million farmers.
The Chief Commercial Officer of Tingo Mobile, Ayoola Olaide said they will bring farmers together and provide them with telecommunications and Fintech solutions that allow them to access global markets.
He added that the initiative is also gadgets for farmers that they will use to upload their farm products and can also sell and receive their payment in one go.
“We unite farmers across the country, provide them with telecommunications and Fintech solutions that allow farmers to access global markets and provide many facilities and incentive materials that helps farmers ensure that their products meet international standards and they have access to the global market.
“Our business will allow us to provide farmers with mobile gadgets and these gadgets can be paid for over a period of 36 months with minimum arrangements.
With this gadget farmers have voice and data calls so they can upload their farm produce and sell and also receive their parents in one go.
“As technology advances, we also come up with more solutions and we have partners all over the world.
“We have seen that for many years, rural communities have been neglected and we know that food is actually the most important thing in the whole world, and if we concentrate on the agricultural sector, we can change the world .
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“With this initiative, we believe that our collaboration with AFAN will give farmers everything they need to do well in their businesses”, he said.
Chris Cleverly – President, Tingo Inc and Tingo International Holdings Inc said that Tingo produces technological support and other things that help farmers to get a good harvest.
“The association of AFAN with Tingo is very important at this time, now we have a global crisis, a domestic food crisis, climate. Food security is national security, national security is international security .
So when we work together, we understand that we are working at a much higher level.
“At Tingo, we produce Fintech, we produce telecommunication support, we produce things that help the farmer to be the hero of our story, because when we strengthen the farmer, we are stronger everything.
“Tingo has over $2 billion in market capital. We recognize the issues that are farmers’ liquidity. That’s why we will provide farm inputs so that farmers can plant, and they need access in the capital.
“Thus, Tingo provides a smart phone with an application that allows the farmer to communicate with the rest of the world as well as transact, we provide the market open for business.
“Tingo mobile will provide loans that come as farm inputs such as seeds, tractors, fertilizers, chemicals, cash loans and device services, then when the farmers harvest, they will pay their debts with their farm produce” CEO Tingo Mobile PLC, Auwal Maude explained.
The President of AFAN, Dr Farouk Mudi said that he believes in this type of project, the economy of the country will be protected.
He said that this initiative will deal directly with the farmers and the middlemen will be completely eliminated.