The Sunday News
Judith Phiri, Sunday News Reporter
A technology-based farmers marketing platform, Farmhut has received US $100 000 seed capital investment from the Hult Prize Foundation as a start-up grant meant to assist the organisation expand its services.
Farmhut is one of the straight from the farm marketplace in Zimbabwe. It is an online platform whose mission is to disrupt the food supply systems across Africa.
In a statement, Farmhut said the US $100 000 came at a point the organisation was expanding its product offering and user base.
“We are glad to inform you that we are a recipient of a US $100 000 investment from the Hult Prize Foundation.
This follows through the Hult Prize accelerator programme that we were part of as the 2020 cohort. Farmhut as an Artificial Intelligence (AI)-powered marketplace connecting farmers to markets that pay fair prices for their produce, is also expanding on its product offering and user base,” read the statement.
It also added that they will be launching its new user-friendly and easy to access platform, a WhatsApp based chatbot called uMdhumeni that will lets farmers sell directly to consumers and address the connectivity challenge most farmers in Zimbabwe face.
“Farmers will now be able to sign up to the Farmhut platform, learn about farming, receive quotations and get the help of virtual agronomists. It will also enable farmers to grow their business fast, throughout the year and ensures consumers get fresh, local and sustainably grown food from small producers in their local area,” read part of the statement.
Farmhut chief executive officer and co-founder, Mr Ryan Katayi said the investment was not for the organisation only but for the farmers as well.
“This investment is not just for Farmhut. It goes to all the farmers toiling everyday to put a meal on the table. It sets the stage for us to take our revolutionary solution to the rest of the world. We extend our heartfelt gratitude to the Hult Prize for giving us a chance to disrupt the agricultural value chain in Zimbabwe and abroad,” said Mr Katayi.
He also noted that their organisation remains committed to helping farmers from the production sector up to the distribution of their products preventing post-harvest losses by offering them with an online marketplace for them to meet with buyers.
Mr Katayi added: “Given that our target is mostly remote, this funding will go a long way to address the issue of inclusivity gap. Farmhut supports all farmers including women smallholder farmers to attain productivity and profitability. Over a third of the food grown by farmers never gets to the table and goes to food waste. This can be stopped by the development of smart market infrastructure that allows farmers to place their produce for sale before they even finish harvesting ensuring that there are no losses that occur post-harvest due to lack of markets.”
He highlighted that they developed a mobile application and a fully functional website and databases with a growing customer base each and everyday, and it was complemented by social media chatbots and automated generated SMS that are free to access for the smallholder farmer through USSD.
