Farmnga, an online farmer marketplace founded late last year in Nigeria aims to be the country’s OLX connecting farmers to agricultural dealers and buyers in Nigeria.
Founded by Arthur Johnson Nwokolo Akogun Oluwatimilehin, Stanley Aniobi, Farmnga gives a platform to farmers and agribusiness dealers to sell their wares to the public and other dealers at prices they agree on. The marketplace allows the farmers and dealers to reach a much wider audience than their own farms and shops to help them sell their farm produce and wares faster than before.
Unlike OLX, Farmnga’s major problem is lack of traction on its online platform which has hindered it to achieve its dreams of becoming the country’s largest marketplace for farmers, food and all things agriculture. OLX might be a competition but it’s rarely used for perishable products which Farmnga could use as its USP. Farmnga is a niche platform and less cluttered making it a suitable platform for farmers who want to connect with other farmers as well as buyers of their products.
Just like Farmnga, FarmDeals, an online agric. product and services classifieds platform has also struggled to sign up users because its yet to market itself to them or those that have signed up get no return on their investments. Their needs to be enough products on the platform but with no one buying, the farmers see no need of uploading more products on the platform again.
Africa is 80 percent an agricultural continent, Farmnga and FarmDeals have an opportunity to grow and become the biggest farmer marketplaces on the continent only if they can survive their phase one of growth and ensure that demand on the platform meets supply but if supply exceeds demand, the sellers might find no reason posting wares their produce on the two platforms.
Farmnga’s business model is by advertising model and offering premium services to farmers and agricultural dealers on the platform.