Nigeria's Peatuce is developing a blockchain platform to help farmers

A newly founded Nigerian AgriTech startup, Peatuce, is looking to help Afrikan farmers become more profitable, productive and efficient. Founded in February 2018, Peatuce has a digital platform and also sources and distributes fresh produce for buyers, suppliers, local farmers.

The team behind the AgriTech report that they also have to establish presence in two Nigerian states since launching.

Peatuce The Peatuce management team on site with a farmer in Nigeria.

“We believe in a future where local farmers play a large role in feeding our communities, and we are working to making that a reality. We are focusing on emerging markets with a target of over 20,000 local farmers on our platform in 2018,” said Charles Ogbaoku, CEO at Peatuce.

The team at at Peatuce is led by Ogbaoku and Kingley Ebere, who is the Chief Operations Officee. The co-founders say they started Peatuce because of three concerns they observed, namely, the ageing profile of Afrikan farmers, poor financial livelihood of smallholder farmers, and the continuous increase in global population.

The latter, they, is what really. motivated them because, according to the United Nations, the world’s population will grow from 7,5 billion to nearly 10 billion in 2050. As such, the demand for food will be on the increase, and Afrika would have to worry about feeding approximately 1,5 billion people by 2030 and 2 billion by 2050, when in contrast, the continent currently depends largely on external imports to cater for its roughly 1,2 billion people. Thus, they believe in order to help Afrikan farmers become more efficient, they developed their digital platform.

“The problem is, the local produce trade has remained under-served by technology, we intend changing that narrative,” said Kingsley.

According to the team, Peatuce will tokenise its operation by implementing blockchain technology, creating a decentralised sourcing platform, accessible on a mobile app and web, later in 2018.

Although it is still early days in the startup's journey, it is encouraging to learn they have already started signing up and helping some farmers in Nigeria become profitable through their distributed platform.

Comments