African Investment Areas for $2.6 Trillion in Annual Revenue
In a post for the African Business Chamber, China, Adetunji (Teejay) Bolorunduro writes about the leading agtech companies in Africa [Zenvus is there] and also explains the four key investment opportunities with potential capabilities to generate a total revenue of $2.6 trillion per year by 2020.
However, few countries in the continent have already adopted modern know-how. African owned start-ups are now using technology and digital to improve and to reduce barriers in communications such as languages and literacy in farming. In addition to using technologies and digital devices to make available financial tips, weather forecasts, market information and farming advice to the farmers.
AgroCenta and Farmerline are great examples. Few others are listed below.
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AgroSpaces: This start-up enables farmers to make more money by providing data on the current price.
Aeroponics: Samson Ogbole is a university graduate cultivating crops in the air without making use of soil. Aeroponics is a new technique in agriculture that does not require much labour, ensure safer and clean environment, increase income from farm produce, ensure sufficient food nutrients, and good health. In addition, it enables food to be available all year round.
FarmDrive: Farm Drive acting as a bridging gap underserved smallholder farmers to credit facilities, as well as the unbanked farmers. In addition to helping the financial institutions to increase their loans to the agriculture sector in a cost-effective way.
Zenvus: This is a precision farming technology that helps farmers to improve farm yields (by helping farmers to apply the right fertilizer and optimization of the farms’ irrigation system), crops health as well as gain access to loans, commodities trading and insurance. Zenvus will not only improve the farm productivity, but it will also help to reduce wastages of farm inputs.
Opportunities for investment
There are 4 industries such as agriculture, infrastructure, consumer-facing industries, resources altogether could generate annual revenue of 2.6 trillion USD by the year 2020, or 1 trillion USD more than today in Africa, according to a report by McKinsey Global Institute
