Africa’s Emerging Agritech Market Worth Euro 5.3b

• Africa’s Emerging Agritech Market Worth Euro 5.3b

Africa’s emerging Agritech market is now valued at Euro 5.3 billion according to a new report by the Technical Centre for Agricultural and Rural Cooperation (CTA) and Dalberg Advisors.

Cellulant’s Agrikore platform – an online marketplace for smallholder farmers, agricultural input and produce traders is tapping into the market.

The State of Digitalisation of Agriculture in Africa 2019 report identifies online marketplace solutions such as Agrikore as significant use cases of how digital tools are being built to tackle major challenges of attracting and retaining a significant number of buyers and sellers, and in thus doing, help to solve the problem of inefficient and fragmented agricultural markets.

The Agriculture market in Africa is projected to grow to $1Trillion by 2030. It continues to be a catalyst of sustainable development primarily for enhanced food security, secondary, in the reduction of poverty and the overall growth of the continent’s economy. Technologies such as mobile telephony or blockchain have become enablers that can be used to solve some of the challenges plaguing the sector.

The report also identified Cellulant as being among only 390 active Digitalization for Agriculture (D4Ag) solution providers that are working across the continent and have the potential to not only support agricultural transformation but also the ability to do so sustainably and inclusively. The report presents evidence on how these enterprises have proven that digital tools can improve market efficiency, transparency, aggregation and integration.

Speaking on this finding, Cellulant co-CEO Bolaji Akinboro, stated that ”technology is at the heart of transformation in Africa. We believe by innovating around how supply and demand are organised, we can solve Africa’s food crisis. We are scaling up our existing payments products in the agriculture sector, this will allow us to increase access to payments for the millions of farmers who are still unbanked, despite the financial inclusion revolution.”