Nigeria loses N3.5 trillion to post harvest loss annually – Farmcrowdy boss

Nigeria loses N3.5 trillion to post harvest loss every year due to the lack of proper storage facilities and the poor state of roads across the nation.

This was disclosed recently by the Founder and Chief Executive of Farmcrowdy Limited, Onyeka Akumah, during the fourth anniversary of the Agritech firm.

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Akumah explained that the loss could be attributed to the inability of the farmers to access proper storage facilities and the poor states of Nigerian roads, which bleeds the Nigerian economy and discourages several farmers.

To address these challenges, the firm has extended its service in agriculture beyond financing into using technology to boost the food value chain, as it launched a new E-commerce platform and its trading and aggregation platform for smallholder farmers.

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He said, “We will focus on the use of technology to build tools and resources that farmers will need to boost food security in the country through 6 business focus.

“These businesses were set up to serve all individuals across the entire agriculture value chain, prioritizing stakeholder access to better yields, lower costs, and smarter marketing.”

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They are; Farmcrowdy Structured Finance, Farmcrowdy Insurance, Farmcrowdy Marketing, Farmcrowdy Tech and Data, Farmcrowdy Foods, and Farmcrowdy Aggregation.

It also introduced two major platforms; the Foods E-Commerce platform and the Trader platform (Flagship platform under Farmcrowdy Aggregation).

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“Farmcrowdy Foods is set to launch its E-commerce platform where consumers can purchase all their fresh foods and get value for their monies.

“The Farmcrowdy Trader platform is a one-stop-shop created to provide major processors and international buyers the opportunity to purchase commodities directly from farming clusters and aggregators by optimizing the market access to African farmers and improving their income and boosting their yields,” he added.

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What it means

The platform is expected to create an atmosphere for greater integration of the value chain through vertical relationships, which improves product flow; thereby, reducing cost, inconveniences, and improving efficiencies through technology.

The trader platform should enable easy farmer’s data profiling, advisory services, procurement, agency banking, insurance, and microcredit for small-holder farmers.

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