Nigerian agri-tech startup UfarmX, known for using blockchain to empower small farmers, is making waves in Senegal.
CEO Alexander Zanders highlighted the aim to redefine perceptions of farming, making it an attractive career for the youth.
Zanders emphasised UfarmX as a “digital bridge” transforming how small farmers access resources and markets. Using cutting-edge blockchain tech, the platform connects farmers to quality inputs on credit, facilitates market access, and provides essential data for scaling operations.
Founded in 2019, UfarmX, currently supporting 1,300 farmers, joined forces with The SEED Project to expand to Senegal. Through a strategic partnership, they offer 2,000 students hands-on experience and education, creating a pathway to employment via UfarmX’s platform.
Self-funded until now, UfarmX is entering its first external investment round with a notable US$1.7 million term sheet offer from UBA Bank in Senegal.
Zanders revealed additional confidential commitments, reflecting a significant achievement in a region where financial entities often shy away from agri-tech startups.
Senegal is just the beginning; UfarmX recently expanded into Liberia, partnering with the Ministry of Agriculture to address unique challenges.
The agri-tech aims to empower 12,000 farmers across ten markets, showcasing its commitment to transforming agriculture, fostering economic growth, and ensuring food security across the continent.