FinComEco, a fully integrated Financial & Commodities Ecosystem has launched a scheme to provide solutions for Africa’s small-holder farmers.
It is aligned to the United Nations sustainable goals, as well as the African Development Banks, Feed Africa and High 5 initiatives.
A press statement by the organization said the ecosystem would drive improvements in food security, economic diversity and financial inclusion, through a socially responsible commercial delivery partnership.
“The goal of the project is a sustainable and increasing improvement in the sophistication and living standards of small-holder farmers and their families in developing countries brought about by a venture, which links agriculture to the latest financial technology. It will initially focus on Africa,” the statement reads in part.
Mark Simmonds, Chairman of FinComEco stated that, the organization has recognised that each African country was unique with individual economic, political and social drivers.
Dr Akinwumi Adesina, President of the African Development Bank in the statement noted that “Creating markets, developing infrastructure and providing financing for farmers are key ingredients for transforming agriculture in Africa. These factors were necessary for transforming agriculture into a wealth-creating sector, generating income opportunities for farmers in rural areas.”
The statement said FinComEco would encourage growth by connecting the farmer with the exchange, financial infrastructure and national economy.