Block Commodities Ltd
Uganda Operations Update
The Executives met groups of small-scale farmers to understand the hindrances holding back production growth and strategically plan the deployment of Block's pilot project. Block Commodities is developing Farmer 3.0, an integrated agri-business ecosystem for agriculture. It harnesses disruptive technologies to optimise agricultural activity and output using a blockchain-powered platform along with machine learning, predictive behavioural analytics and data-driven marketing.
In Uganda, smallholder farmers represent approximately 85% of the farming community. According to the World Bank, agriculture employs 70 percent of Uganda's population and represents a quarter of its gross domestic product (GDP).
The Farmer 3.0 pilot project was launched in September 2018 and will aim to supply up to 1,000 Ugandan smallholder farmers with utility token-based loans for farmers selected by Pure Grow Africa to purchase fertiliser and gain access to appropriate technology to enhance production.
The results of the meetings with farmers highlighted the need for alternative funding for fertilisers and pesticides, access to technical training and markets beyond the local level. The Company's deployment of an alternative form of lending, via utility token-lending, is set to disrupt the system.
Clinton van Eden, Block's Head of African Operations, commented: "More than offering technologies and tools, our job is to close the information gap and educate these farmers so they can make the most of their lands. Our mission is to take the burden off the farmers' shoulders so they can focus only on production and let them be the best farmers they can be," adds Clinton.
Upon successful completion of the pilot phase in Uganda, Block Commodities aims to expand the scheme to up to 50,000 smallholder farmers linked to Pure Grow.
About Block Commodities
In reclaiming the value lost in African agricultural and extractive industries through inefficient supply and distribution systems, Block Commodities aims to help sub-Saharan African farmers raise productivity and secure better returns for their produce. This is an important step in establishing African communities as significant future global agricultural producers.
Document title: Uganda Operations Update
Dissemination of a CORPORATE NEWS, transmitted by EQS Group.