Tingo Mobile, an Agri-Fintech company, has entered into a Memorandum of Agreement (MoA) with the All Farmers Association of Nigeria (AFAN) to provide utilities, agricultural inputs in the form of loan to about 20 million farmers across the country.
In the MoA, AFAN is expected to represent farmers who would have access to these credit facilities and repayments over a period of 36 months using their agricultural produce.
Tingo will provide 20 million farmers with inputs such as fertilizers, sprayers, tractors, chemicals, among others.
Tingo Mobile’s Chief Commercial Officer, Ayoola Olaide, said they will bring farmers together and provide them with telecommunications and Fintech solutions that enable them to access global markets.
He further stated that the initiative will also mean tools for farmers to use to load their agricultural produce and also be able to sell and get their payment on the way.
“We bring together farmers across the country, provide them with telecommunication and Fintech solutions that give farmers access to global markets and can provide many incentives, facilities and materials to help farmers ensure that their crops meet international standards. and have access to the global market.
“Our business would enable us to give mobile gadgets to farmers and these gadgets can be repaid over a period of 36 months with minimum arrangements.
With this gadget, farmers will have voice and data calls so that they can upload their farm produce and can immediately sell and receive their parent.
“As technology advances, we also come up with more solutions and have partners around the world.
“We have seen rural communities neglected for years and we know that food is actually the most important thing in the world and if we focus on the agricultural sector we can change the world.
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“With this initiative, we believe that our collaboration with AFAN will provide farmers with everything they need to be able to do well in their businesses,” he emphasized.
Chris Cleverly – President of Tingo Inc and Tingo International Holdings Inc said that Tingo produces technology support and other things that help farmers get a good harvest.
“The joining of AFAN and Tingo is very important at this time, we currently have a global crisis, a domestic crisis with food, 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 Ting, we make Fintech, we make telecom support, we make things that help the farmer to be the hero of our story, because when we make the farmer stronger, we are all stronger.
“Tingo has over $2 billion in market capitalization. We identified problems that are liquidity for farmers. So we will provide agricultural inputs so that farmers can plant and they need access to capital.
“So, Tingo has provided a smartphone with an app that allows the farmer to communicate with the rest of the world and transact, we have provided a marketplace that is open for business.
“Tingo mobile will provide loans that will come in the form of agricultural inputs such as seeds, tractors, fertilizers, chemicals, cash loans and equipment servicing, and then farmers will repay their loans with their agricultural produce when they want,” the executive said. director of Tingo Mobile PLC, explained Auwal Maude.
President of AFAN, dr. Farouk Mudi said that he believed that the national economy would be protected with such a project.
He said that this initiative will deal directly with farmers and eliminate middlemen completely.