Breaking new grounds in the Nigerian commodities trade market
DEAR <<First Name>>
Let us share with you a story
A New Day in Africa
In 2017, somewhere in a converted sitting room at Iseyin, Oyo State, a new startup, efarms was born. Efarms is an agricultural focused fintech company that sources funds from people and organizations with disposable income to fund productions and commodity trading, so as to unlock finance and markets for smallholder farmers in Nigeria.
Nigeria, with over 64 Million smallholder farmers, has one of the lowest crop yield averages in the world. In addition, it is very difficult for smallholder farmers to access finance to purchase high quality inputs, or expand their farms. Worse still, access to markets is difficult as the agricultural ecosystem is very fragmented leading to often very high levels of post harvest losses ranging between 40 and 60% per annum. As a result, smallholder farmers are very poor, making up over 70% of all people who live on under a $1 a day. We started efarms to fix those frictions.
We have had a challenging but incredible journey, one in which we have had to bootstrap, having not raised seed funding. But the journey has been rewarding in itself and we have learnt a ton. We have worked with over 3000 smallholder farmers in 8 different agricultural value chains, helping them raise over $500,000 in investments for farm expansions. Seeing farmers raised from extreme poverty and hunger is not a gratification that can be quantified. And we are just getting started.
Before now, we have made it possible for people to directly invest in agricultural production. All they needed to do was visit our platform, www.efarms.com.ng, register, pick out a farm and start investing. But we knew there was a whole lot to do and that providing finance alone was not going to be enough to bring agricultural production to the optimal level we know it can be. So, we went back to our kitchen to cook up something, and today, we are glad to let you know that the delicacy we have been cooking is ready for public consumption!
I am proud to use this medium to announce the launch of Marketmaker, efarms new investment product that allows anyone anywhere and at anytime invest in the trading of commodities. At www.marketmaker.efarms.com.ng, you can either log in with your existing efarms account, or create a new one, identify commodities that interest you and start investing. With marketmaker, you can purchase commodities, hold and sell it anytime you like by observing the changing prices of the different commodities available to you. Or you can also have us manage your investments for a specified period of time. With marketmaker, commodity buyers and processors are not left out; you can check the prices of different commodities and make purchases, or reach out to us for a supply plan that includes an extended credit line! How sweeter can the deal get, right?
Efarms is a journey, one whose ultimate goal is to transform Africa into the hub that feeds the world; we want to ensure that Africa is at the forefront in ensuring that come 2050, when the world would need to be able to produce 60% more food so as to feed 9.7 Billion people, we would be ready. And we invite you to join us to secure the future of food.