As investment in agriculture-related technology hits $6.7 billion (about N2.5 trillion) in the past five years, technology giant, Tingo International Holdings Inc, says its technology solutions could change agribusiness in Nigeria and other places in Africa.
Dozy Mmobuosi, group chief executive of the company, which is currently operating in the US, UK and Nigeria, said deployment of sophisticated technologies could leapfrog the growth of the nation’s agricultural sector.
With agricultural technology such as Nwassa, which was introduced by the company to connect large and small holder farmers to markets and opportunities, Mmobousi noted that farmers could significantly contribute to economy if robots, temperature and moisture sensors, aerial images, and GPS technology and others were deployed to the sector.
Though the contribution from the sector to the Gross Domestic Product (GDP) stood at 24.6 percent in the second quarter of 2020, doing better than the previous quarter and the same quarter last year, according to National Bureau of Statistics, Mmobousi said over 9 million mobile devices have been offered to farmers in Nigeria alone to boost their productivity.
“This initiative will make farming more profitable, efficient, safer, and environmentally friendly,” he said.
To him, Nwassa, the digital platform for agribusiness, could help farms of any size access global agricultural markets for their crop.
Mmobuosi disclosed that Nwassa, which is dedicated to African farmers, provides them with weather forecasts as well as prices of farm input and produce as farmers also get access to extension service providers.
He noted that farmers on the Nwassa platform have been able to record lower post-harvest losses because they have access to timely extension services and off-takers for their farm produce.
“Nwassa is the ultimate answer for farmers all over the world, as every farmer’s need in every location can be addressed without undue challenges,” he stressed.
Mmobousi stated that through the Nwassa platform, Tingo International Holdings Inc already sold over 9 million Tingo-branded mobile devices to Nigerian farmers alone with payment spread over three years in order to reduce the financial strain on them.
“With the devices, we provide up-to-date information to the farmers in real-time,” he stated.
According to him, the group also assists farmers and cooperatives with packaging, warehousing, and cargo logistics as well as agritech, fintech and extension services such as digital wallets, which enable businesses to send and receive domestic payments, monitor cash flow in real time and securely hold money.
Mmobuosi believes that the sector would accelerate as new technology is developed and as economies of scale become more affordable for smaller farms.
