ICT improving market efficiencies in agriculture
The vast potential of Information and Communication Technology (ICT) to solve for market inefficiencies in becoming increasingly evident.
Start-up Twigga Foods from Kenya raised $10 mil in Series A funding. Its mobile platform brings together food producers, pack houses and vehicles to supply and deliver produce directly from farmers to urban retailers. They are looking to expand logistic services into a total market ecosystem by adding financial services and are working with IBM Research to deploy a blockchain-enabled supply lending platform to help scale its reach.
In SA, ICT in the market place is almost non existent. We see ICT playing a role in increasing resource efficiencies in primary production through precision agriculture technologies, but further up in the value chain transactions are still done in a very dated way.