Block Commodities Limited (NEX: BLCC), the commodity trader operating in Africa, has announced a strategic partnership with Pure Grow Africa Limited (Pure Grow), a supplier of high-quality agricultural produce based in Uganda. Block and Pure Grow will be working together in connection with the first pilot of a food project commodity cycle ecosystem (Pilot 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 strategy to maximise the project’s results, including:
- development of a call centre
- creation and distribution of a mobile app
- production and transmission of a television show
- development of logistics and warehouse protocols and
- the creation of a ‘fertiliser swap’ opportunity for harvested agricultural products.
Pure Grow is an innovative farm supporter in Africa, embracing modern technologies and applications to promote economic growth. while creating community awareness and shared values.
Through the agreement, Pure Grow will initially introduce approximately 1,000 farmers and buyers to the Pilot Ecosystem. Block Commodities will implement and support the Ecosystem by providing finance and fertiliser products, as well as supplying the technology. It will coordinate loans in cryptocurrencies (Dala token) for the selected team of farmers from Pure Grow Africa.
The aim of the loans is to provide farmers with funds 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 commented:
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 added:
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 to grow 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 US$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 linked to Pure Grow. It is intended to expand he project to cover other countries in sub-Saharan Africa in due course.