Peatuce is on a Mission to Improve Local Food Trade Within and Across Africa from the Ground Up
For more than decades, numerous challenges have consistently plagued the operations of smallholder farmers on the African continent; from poor financing to stringent policies, haphazard regulation, climatic changes and obsolete technology, these challenges often create a stifling environment for the functionality of local farmers playing in the Agricultural value chain.
As such, farm productivity, efficiency, and profitability has been grossly irregular, most times, at a decline. The aftermath of this irregularity is already negative and could grow worse if it isn’t remedied timely -- especially considering that the African population, which is expected to grow spontaneously by 2050 will have more mouths to feed when in contrast, local food production is yet to circulate the present population.
All of these sum up to what propelled Charles Ogbaoku, alongside his formidable team; Kingsley Ebere (COO), Patrick Emezieonyeije (Business Operations) and the rest of the team, to champion the course of remedying the situation via Peatuce (https://www.peatuce.com/).
Founded on February 1, 2018, Peatuce is set to improve the local food trade within and across Africa by increasing efficiency, service quality and enhancing profitability for farmers, suppliers and buyers.
Peatuce was created out of three major concerns; the aging profile of local farmers, the poor financial livelihood of smallholder farmers, and the continuous increase in global population. The latter is a stronger motivational factor for the team because, according to the United Nations, the world’s population will grow from today’s 7.5 billion to nearly 10 billion in 2050. As such, the demand for local food production will be on the increase, and Africa would have to worry about feeding 1.5 billion people by 2030 and 2 billion by 2050 when in contrast, the continent currently depends largely on external aids and imports to cater for its 1.2 billion inhabitants. But here’s Peatuce, building a possible solution.
“We believe in the future where local farmers play a large role in feeding our communities, and we are working on making that a reality. We are focusing on emerging markets with a target of over 20,000 local farmers on our platform in 2018.”
Operating out of Nigeria, Peatuce has had remarkable milestones since inception -- with more in the pipeline. Despite being a recent bird in the agricultural value chain, the platform has gone from launching the business operation to sourcing and distributing for buyers, suppliers, local farmers, and creating a presence in two Nigerian states. Peatuce now has over 500 local farmers, who are relying on it to facilitate their farming operations, expedite distribution and supply chain, as well as help enhance the productivity of farm produce.
To further facilitate efficiency in its operations, Peatuce intends to leverage modern technology in no time.
“The problem is, the local produce trade has remained under-served by technology, we intend changing that narrative,” Kingsley, the COO says.
According to the team, Peatuce will tokenize its operation by implementing blockchain, a decentralized sourcing platform, accessible on the mobile app and web, later this year.
Dickson Is A Trail Blazer, Says NNPC GMD
The Governor of Bayelsa State, the Honourable Henry Seriake Dickson has said his administration is working very hard to make Bayelsa, the Houston of Nigeria and Africa as a whole. He said being the historical headquarters of oil and gas in Nigeria and Africa, Bayelsa deserves to be the Houston of Nigeria and Africa.
A press statement signed by the Governor’s Chief Press Secretary, Francis Ottah Agbo noted that the Governor was speaking on Tuesday during a session with the NNPC at the ongoing Onshore Technology Conference (OTC) in Houston, USA. The governor stressed that making Bayelsa the Houston of Africa is realizable if the NNPC GMD, Dr. Maikanti Baru and the critical players in the oil and gas sector collaborate with his government.
He recalled that Bayelsa participated fully in last year’s OTC which updated their knowledge in the oil and gas sector and helped them to take more far reaching policy decisions and embarked on more critical projects in the sector to effectively market the state to potential investors. Dickson said his government has created the enabling environment for investments, including investments in the oil and gas sector to thrive in Bayelsa State as well as guarantee a high return on all investments.
He averred that the state is safe and peaceful for investments and called on potential investors to make the littoral state their choice destination.
He said Bayelsa State has over 30% of the of the gas reserve in Nigeria, stressing that for anyone thinking about investment opportunities in gas, ‘‘where to go is clearly Bayelsa and there is no doubt about that, which is why we are here to market that comparative advantage to the investing world.’’
He said: ‘‘ Bayelsa State is safe, peaceful and ready for business. Our government has created the conducive and enabling environment for investments to flourish, including investments in the oil and gas sector … We were here last year and we had fruitful deliberations which sharpened our perspectives. On returning home, we took a lot of steps and we are here this time around to market Bayelsa as the world’s best kept investment secret to the global investing community especially in oil and gas.
‘‘We have started an Eco-Industrial City. So if you are interested in using gas for industrialisation, where to go to is Bayelsa. We are building a Deep Sea Port and we’ve got to provide power. We are building a power hub, a new Yenagoa City, we are building an International Airport and a host of other initiatives that will be attractive to investors.
‘‘We in Bayelsa have a dream of working with the NNPC and other players to make Bayelsa State the Houston of oil and gas in Nigeria and in Africa. Bayelsa is historically the headquarters of oil and gas in Nigeria and in Africa and working with the NNPC GMD, Dr. Maikanti Baru and his team, and with the support of everyone else, Bayelsa State Surely will be the Houston of Nigeria and Africa. I want to thank the GMD for his support, encouragement and collaboration in that direction. I also thank the Chairman of PETAN and all the members of the PETAN community for their support.
In his response, Baru described Bayelsa State as is a trail Blazer with a visionary Governor. He promised to collaborate with the governor and support Bayelsa State Government in its investment drives. He said the NNPC will assist the state government with evaluation, such that only viable projects are admitted into these world- class facilities being developed in Bayelsa State. While noting that Bayelsa State was the only state with a Stand at the OTC, Baru called on other state governors to borrow a leaf from Dickson.
He said:
‘‘When His Excellency, Governor Dickson visited the OTC last year, and subsequently paid me a visit, we discussed on issues bordering on why Nigeria cannot do what other countries and governments are doing…He also discussed some of his lofty ideas of building Industrial Parks with me, and of course, all the associated infrastructure that are required.
‘‘If you build an Industrial Park, you are building an area where investors will come and have ready -made feed-stock. Whether a refinery or fertilizer plant, the plot must be set and by being set I mean it will have all the necessary utilities and the feed-stock piped to that location. So all that is needed for the investors to do is to site their plant, connect to the feed stock and commence operations.
‘‘In addition to this, the Industrial Park should have housing facilities to accommodate all who will work in the industrial park because these equipments however hi-tech they are, require people to man them. In addition to that, the Industrial park will have schools, gaming facilities and various entertainment facilities that it requires. And there will also be a need for an airport because not everything comes through the water way or the road. And of course, to have an airport, it must be done to the extent that it can host heavy lift aircrafts as well as wide bodied huge aircrafts.
‘‘Bayelsa State has been developing its airport which meets these standards and impressively, it is almost reaching completion. I was impressed about the presentation at the Bayelsa State exhibition stand because they did not only take on the project but demonstrated that they are almost done with a 3.5Km runway airport that can land a 747, an A380 and of course it can land the heaviest lift aircraft that we have in the world."
The NNPC GMD was also impressed that Bayelsa State investments will shore up the political economy of the state adding that the Bayelsa heavy lift airport will be useful even to the neighboring states of Rivers, Delta, Edo, and Akwa-Ibom states and in deed the entire country.
On the Deep Sea Port, he also commended Bayelsa State for being the only state in Nigeria that has 14metre draft and is underway to be deepened to 20metre.
He believes after completion of the Deep Sea Port, there will be a lot of movement of goods, facilities and heavy equipment vessels away from Lagos Port to the Bayelsa Port which he reasoned will be a great relief for the various industries
‘‘because it will ensure that heavy goods are brought closer to the locations of use and of course, it will be cheaper and good for all.’’
Guarantee Trust Bank is bringing people together by creating the biggest food experience in Africa.
This will be the third year in a row that the bank is hosting the GTBank Food and Drink Fair, and perhaps as proof of its commitment to making this the best edition yet, the event will hold for three full days.
So, if you are, like most of us, enamored by the fragrance of togetherness, excited by the luxury of fine dining and enchanted by the allure of delicious, glorious food, then join us in answering GTBank’s clarion call to, “Come Let’s Eat Together.”
The GTBank Food and Drink Fair holds from April 29 th to May 1 st , 2018 at Plot 1- 3, Water Corporation Drive, Oniru Lagos.
Till then, whet your appetite with this sumptuous short film about the event.
African countries are set to put their signature to an agreement that will launch the African Continental Free Trade Area (AfCFTA) in Kigali, Rwanda, today. The UN Economic Commission for Africa (UNECA) has estimated the agreement’s implementation could increase intra-African trade by 52 per cent by 2022, compared with trade levels in 2010.
African heads of government agreed to establish a continental free trade area in 2012 and started negotiations in 2015.
The agreement is to be signed by all 55-member states of the African Union, bringing together 1.2 billion people with a combined gross domestic product (GDP) of more than $2 trillion.
The draft agreement commits countries to removing tariffs on 90 per cent of goods, with 10 per cent of “sensitive items” to be phased in later.
The agreement will also liberalise services and aims to tackle so-called “non-tariff barriers” which hamper trade between African countries, such as long delays at the border.
Eventually, free movement of people and even a single currency could become part of the free trade area.
By creating a single continental market for goods and services, the member states of the African Union hope to boost trade between African countries.
David Luke, coordinator of the African Trade Policy Centre at UNECA, hopes the free trade area will correct this “historical anomaly”.
With a $100,000,000 commitment through the Tony Elumelu Foundation, African business leader Tony O. Elumelu is empowering generations of African entrepreneurs over the next decade, to change the African business landscape as you know it.
Here’s what you need to know about The Tony Elumelu Foundation Entrepreneurship Programme:
What is TEEP?
The Tony Elumelu Foundation Entrepreneurship Programme is the flagship entrepreneurship initiative of the Tony Elumelu Foundation, founded by entrepreneur and philanthropist, Tony O. Elumelu, CON. The goal is to create 10,000 businesses that can generate 1,000,000 new jobs and contribute at least $10 billion in annual revenues to the African economy.
Who Can Apply?
The programme is open to all citizens (18 and above) and legal residents of all 54 African countries with businesses that operate in Africa.
How Can I Apply For The Programme?
All applications must be submitted ONLINE through the TEEP PORTAL. Answer a series of mandatory questions and upload additional documents and identification materials. You will receive a confirmation email within 1 working day of submission.
Can I Reapply In Another Programme Cycle?
Yes. Our aim is to support as many entrepreneurs who are within or outside the Tony Elumelu Entrepreneurship Programme. That you have missed this chance with the TEEP 2015 does not hinder you from reapplying. We actually encourage you to sign up for newsletters, webinars, online training and other support materials we will send to those who join the Tony Elumelu Entrepreneurship Network (TEEN).
How Does One Stay Connected To TEEP Even After Concluding The Programme?
Yes you can always contact us via
Email (teep@tonyelumelufoundation.org),
the contact page on the website (www.tonyelumelufoundation.org/teep), or
social media: #AfricanEntrepreneurs or #TEEP
All applicants will be notified to sign in to TEEN to begin to benefit from the vast materials that support entrepreneurs in Africa.
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