Block Commodities, a commodity trader operating in Africa, has announced a strategic partnership with Pure Grow Africa, a supplier of agricultural produce. The two will be working together in connection with the first pilot of a food project commodity cycle ecosystem (Pilot Ecosystem ) in Uganda.
They will also establish a strategy to maximise the project’s results, including: development of a call centre; creation and distribution of a mobile app; production and transmission of a television show; development of logistics and warehouse protocols; andthe creation of a ‘fertiliser swap’ opportunity for harvested agricultural products.
Through the agreement, Pure Grow will initially introduce approximately 1,000 farmers and buyers to the Pilot Ecosystem. Block Commodities will provide finance and fertiliser products, and also supply the technology. It will coordinate loans in cryptocurrencies (Dala token) for the farmers, the aim of which is to provide them with funds to purchase fertilisers at affordable rates and better repayment terms, allowing them to increase production and scale up from a subsistence to commercial level.
Bobby Juuko Kimbugwe, Director at Pure Grow Africa, says: “We are placing smallholder farmers at the centre of our work; they are at the core of what we do. We want them to understand that they do not need to have money in their hands to be able to grow production. Block Commodities is the ideal partner to support growth in African farming. ”
Upon successful completion of the pilot phase, the aim will be roll-out the scheme to reach approximately 50,000 farmers linked to Pure Grow. Plans are also afoot to cover other countries in sub-Saharan Africa in due course.