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 to about 20 million farmers across the country.
In the MoA, AFAN is expected to represent the farmers who will access these credit facilities and pay within a period of 36 months, using their farm produce.
Tingo will provide services such as fertilizers, sprayers, tractors, chemicals among others to 20 million farmers.
The Chief Commercial Officer at Tingo Mobile, Ayoola Olaide said they will unite farmers and provide them with telecommunications and Fintech solutions that enable them to access global markets.
He went on to say that this program will also include gadgets for farmers to use to put their produce in the farms and be able to sell it and get their payment quickly.
“We are bringing together farmers across the country, providing them with communications and Fintech solutions that allow farmers to access global markets and be able to offer many incentives that will help farmers to ensure that their produce reaches international standards. and they have access to global markets.
“Our business can allow us to provide mobile gadgets to farmers and these gadgets can be returned for a period of 36 months with minor arrangements.
With this gadget farmers will have voice and data calls so they can upload their farm produce and be able to sell and receive their parent immediately.
“As technology advances, we come up with more solutions and have partners around the world.
“We have seen that in all these years, rural communities have been neglected and we know that food is actually the most important thing in the world, and if we focus on the agricultural sector, we will be able to change the world.
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“With this program, we believe that our collaboration with AFAN will provide farmers with everything they need to be able to do well in their businesses”, he commented.
Chris Cleverly – President, Tingo Inc and Tingo International Holdings Inc said that Tingo produces technical support and other materials that help farmers achieve good harvests.
“The association between AFAN and Tingo is very important at this time, right now we have world problems, domestic problems with food, climate. Food security is national security, national security is international security.
So when we work together, we get to understand that we are working at the highest level.
“At Tingo, we produce Fintech, we produce communication support, we produce things that help the farmer to be the hero of our story, because if we strengthen the farmer, we all become stronger.
“Tingo has a market capitalization of over $2 billion. We have identified the problems which are the income of the farmers. So we will provide farm equipment so farmers can plant, and they need to get money.
“Therefore, Tingo has provided a smart phone with an application that allows the farmer to communicate with the rest of the world as well as trade, providing a market that is open to business.
“Tingo Mobile will provide loans available for seeds, tractors, fertilizers, chemicals, loans and equipment, and when farmers harvest, they will repay the loan with their farm produce,” Tingo Mobile PLC CEO, Auwal Maude explained.
The President of AFAN, Dr. Farouk Mudi said he believes that with this type of program, the nation’s economy will be protected.
He said the program will deal directly with the farmers and the middlemen will be completely eliminated.