Africa’s leading Payment Service Provider, Cellulant, was a major contributor at the 2018 World Agriculture Day symposium organized by the Nigeria Stockbrokers Agribusiness Group.
The event which had the theme “Tapping into Investment Opportunities in Agribusiness Value Chain” took place at the Nigeria Stock Exchange, Lagos and brought together stakeholders in the agric, financial and capital market space in the country.
The Keynote speaker and Co-Founder of Cellulant Nigeria Mr Bolaji Akinboro in his presentation shared that Agriculture must be seen as a business, for the value chain to grow across the nation.
As a leading Agric fintech firm Mr Akinboro said Cellulant successfully raised $47.5ml and has been focused on providing service delivery and investments in the sector.
With operations in Nigeria, Liberia, Ghana and even Afghanistan, Akinboro said Cellulant through its blockchain technology “Agrikore” is organizing the agriculture ecosystem for economic value creation & capture into the income statement of agripreneurs.
Considering the work the agric fintech firm has been involved in the Co-Founder identified the following as issues to be addressed for agric investments; profile & identity management, access to farm inputs, access to markets and relevant market information.
He noted that with the advent of commodities exchange in the country, agriculture has evolved into a tradable asset in the market.
Speaking on the sector , he informed stakeholders that Nigeria’s agro industry was currently valued at about $50bn while that of Africa was pegged at the range of about $450bn, signalling massive investment opportunities.
The event featured a panel session with Lois Sankey (Head, Agric Finance, Diamond Bank Nigeria), Mr Adedapo Adekoje, FCS (Incoming President, Chartered Institute of Stockbrokers), Mr Akinsola Akeredolu-Ale (Ag CEO Lagos Commodities Exchange), Mr Samuel Ndanta(Doyen, Nigeria Stock Exchange) and Mr Bolaji Akinboro(Co-Founder, Cellulant Nigeria) as panelists.
In his opening remarks the Vice-Chairman of the Nigerian Stockbrokers Agribusiness Group Mr. Tunde Oyediran said the forum was part of the mandate of the group, which is to maximize the value of the Agribusiness value chain in Nigeria.
According to him, the NSBAG had as its core objective; financial intermediation in the agric sector, promoting the standardization of agro products from Nigeria, encourage youth agripreneurs that will lead to gainful employment and promote agribusiness amongst stockbrokers and professional groups that will enhance food security and boost foreign exchange earnings.
Giving the goodwill message on behalf the CEO of the Nigeria stock exchange, Mr Olumide Orojimi (Group Head, Corporate Communications) lauded the NSBAG for the initiative around the symposium.
He challenged the dealing members in the exchange, agric sector players to work together and develop an agro product for the capital market.