Block Commodities, a commodity trader operating has partnered with Pure Grow Africa, a supplier of high-quality agricultural produce, to launch the first pilot of a food project commodity cycle ecosystem in Uganda.
Pure Grow shares Block Commodities’ values of providing high quality products at fair prices with transparency, and a mission to empower communities with modern technologies for improved agri-business and agro-value chain development.
The two parties will also establish a call centre, create and distribute a mobile app, produce and transmit a television show, develop logistics and warehouse protocols and create a ‘fertiliser swap’ opportunity for harvested agricultural products. Pure Grow uses modern technologies and applications to promote economic growth while creating community awareness and shared values. Farmers linked to Pure Grow aim to adhere to the highest standards of food safety, environmental and sustainable policies.
Through the agreement, Pure Grow will initially introduce approximately 1,000 farmers and buyers to the Pilot Ecosystem. BlockCommodities will implement and support the Ecosystem by providing finance and fertiliser products, as well as supplying thetechnology. It will coordinate loans in cryptocurrencies (Dala token) for the selected team of farmers from Pure Grow Africa.
Farmers will use loans is to purchase fertilisers at affordable rates and better repayment terms, allowing them to increase production and scale up from a subsistence to commercial level.
Chris Cleverly, Executive Chairman at Block Commodities said, “I am delighted to partner with Pure Grow Africa to push forward our ecosystem project and support smallholder farmers to grow production.”
Bobby Juuko Kimbugwe, Director at Pure Grow Africa said: “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 togrow production. Block Commodities is the ideal partner to support growth in African farming. ”
According to World Bank, the sub-Saharan agribusiness market could reach a value of $1 trillion by 2030, highlighting the great opportunity for African agriculture to become a leading player in this market.
Upon successful completion of the Pilot phase, Block Commodities and Pure Grow aim to roll out the scheme to reach approximately 50,000 farmers and to expand the project to cover other countries in sub-Saharan Africa in due course.