An Agri-Fintech Company, Tingo Mobile has entered into a Memorandum of Agreement (MoA) with the All Farmers Association of Nigeria (AFAN) to provide tools, agricultural inputs in the form of a loan of up to 20 million farmers across the country.
In the MoA, AFAN is expected to stand for farmers who enter these credit facilities and pay within 36 months, using their farm products.
Tingo supplies inputs such as fertilizers, sprayers, tractors, chemicals and more to 20 million farmers.
Tingo Mobile’s Head of Marketing, Ayoola Olaide, said they will mobilize farmers and provide them with mobile communications and Fintech solutions that will enable them to access global markets.
He added that this project will provide tools for farmers to upload their farm produce and be able to sell it and get paid on the go.
“We will bring together farmers across the country, provide them with mobile information and Fintech solutions that will enable farmers to access global markets and enable them to provide incentives in inputs and resources to help farmers ensure that their produce meets international standards and that they have access to the world market.
“Our business will provide mobile devices to farmers and these devices can be paid for in 36 months with minimum requirements.
This device will allow farmers to have voice and mobile phones so that they can upload their farm produce, buy and pick up their parents on the go.
“As technology advances, we are also coming up with more solutions with our partners around the world.
“We have seen all these years that rural communities have been neglected and we know that food is the most important thing all over the world, and if we focus on the agricultural sector, we can change the world.
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“Through this program, we believe that our partnership with AFAN will provide farmers with everything they need to make their business successful”, he said.
Chris Cleverly – President, Tingo Inc and Tingo International Holdings Inc said that Tingo provides technical support and other things to help farmers get the best harvest.
“AFAN and meeting with Tingo is important now, now we have the world crisis, the home crisis and the food, the climate. Food security is national security, national security is global security.
And when we work together, we realize that we are working on a higher level.
“Within Tingo, we create Fintech, we generate mobile support, we generate things that help the farmer to be the winner of our message, because we empower the farmer, we will be strong all of us.
“Tingo’s market capitalization is over $2 billion. We have identified the issues that are money to farmers. So we provide farm inputs so that farmers can plant and access the capital.
“Thus, Tingo has released a smart phone application that allows the farmer to communicate with the whole world as well as trade, we have provided a market that is open to business.
“Tingo mobile provides loans for farm inputs such as seeds, tractors, fertilizers, chemicals, bank loans and equipment services, and after farmers harvest, they pay off their loans and farm produce. ” Tingo Mobile PLC CEO, Auwal Maude explained.
The President of AFAN, Dr. Farouk Mudi, said that he believes that with this type of program, the economy of the country will be protected.
He said that this project will work directly with the farmers and eliminate all middlemen.