Farmula: Creating B2B digital infrastructure to connect farmers to buyers in Africa

How a Nigerian agri-tech startup is creating a B2B digital infrastructure that allows farmers and customers to directly interact, driving up margins on both ends.

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Mummy Ayo, a retailer in the heart of Somolu Lagos trades FMCG’s ranging from rice, beans, palm oil to spaghetti and noodles. Twice a week, she has to go to Mile 12 or Oyingbo market to restock. Understanding how difficult the day would be, she has to lock her shop and plan her market runs for half a day. On getting to the market, she realizes that prices of beans have increased by 50% and her “regular customer” is not even around. She ends up buying insufficient stock. Mummy Ayo is one of the hundreds of thousands of retailers in Lagos and millions across Africa facing the same problem - the inefficient operation of food supply chains in the continent.

Luckily, this problem could soon be a thing of the past with the recent launch of Farmula, a digital infrastructural platform that uses technology to connect players in the food supply chain in Africa. The MEST funded platform allows buyers to post their demand requirements on its platform. It then matches buyers with inexpensive, high quality produce, while handling payment and the delivery of the produce within 24 hours.

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