‘Industrialisation, collaboration can solve agricultural problems’

IN order to address agriculture’s $15.6 billion gender financing gap, and the imminent crisis in the sector, HerVest has suggested partnerships and industrialisation as critical factors in addressing them.

In a statement signed by Chief Executive Officer (CEO), HerVest, Solape Akinpelu, she noted that though there has been growth in the sector, due to increase in technology solutions, Africa’s food demand will rise exponentially due to its rapidly growing population, expanding middle class, rapid urbanisation, altering dietary habits, and consumer-oriented culture.

She also stressed on the danger Russia-Ukraine war posed to Africa, as both countries supply 30 per cent of worldwide wheat exports.

“The cost of wheat has risen as a result of this situation to 50 per cent of the actual cost, while the price of fertilizer has tripled amid a stable rising in the cost of energy,” Akinpelu said.

She added that in line with increased food demand, there is a need for a more efficient food production process to reduce wastage at all levels of the agricultural value chain, allowing farmers to raise yields, access markets, and earn fair returns while ensuring reduced consumer costs.

She noted that HerVest had impacted over 5,000 thousand female farmers across Borno, Plateau, Kaduna, Benue, Niger, Oyo, Ogun, and Kwara States with ongoing efforts to onboard more farmers across the country.

According to her, asides providing credit financing for women farmers, HerVest is working with CBN-licensed platforms such as Flutterwave, FBNQUEST and VFD Microfinance Bank and operates an easy-to-use digital platform for savings and investment.

“Through HerVest’s support, female farmers, who contribute over 70 per cent to Nigeria’s food production can produce a lot more, thereby increasing their yield and saving the continent from potential food crisis.

She explained that the firm was set to expand its operation as it adds another feature to its savings options called Cliq.

“The new feature is established to promote group savings among friends and acquaintances, while earning competitive returns on the go,” she said.

Akinpelu stated that the social enterprise, also provides access to free mentoring on financial literacy from inspiring women leaders,

women-focused tools, guides and growth insights in engaging underserved women across Nigeria.

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