Skip to main content

LEVERAGING ICTs FOR AGRICULTURE FINANCE




Introduction
ICT and agricultural finance are two separate keywords; before the link could be established, there is need to understand both theoretical and practical working knowledge of both keywords.  Several articles and discussions had been done on the effective of information and communication technology in agriculture sectors. Huge innovations ensuring flow of finance and eliminating barriers mitigating the availability and flow of fund in the value chain had been experienced.
Since there is no standard definition of ICT in the ICT sectors, I would like to analyze the acronym “ICT” one after the other related to their functions in the value chain. The word “I” which stand for information is very critical and its availability will help the financial institutions to make relevant decision whether to release funds to the small scale producers or not e.g. records of farm activities, prices of goods, market and fund availability.
“C” for communication is the conveying clearly the relevant ideas, activities through the actors in the system of production to the financing institutions, or donors. These could be face to face or via ICT gadget communication while the T represents the creation, modification, usage and knowledge of tools to disseminate proper information, making communication easy and reduce the cost of transaction between the chain actors and chain supporters. In this respect, the maximization of information and communication technology to its full potential in the agricultural sector needs great attention and all hands must be on desk to realize it profitability in the agriculture sector. Research will be solely the medium to realize this.

ICT Innovations in agricultural sectors.
A series of ICT innovations on agric-sector across countries has been shaping the way agric-sectors operate. Some of these innovations are internet connectivity, web 2.0, aWhere, ensibuuko, FarmDrive, Farmforce, e-krishok, Agrocentral, Agrilife Platform, Credit Information sharing system (CIS), social media tools, application resources (e-voucher systems, e-registry platforms), mobile phones and lots more.
The agric value chain actors now have privileged to use ICT tools for research purpose, sharing and managing of information, collaborating and learning with the opportunity of networking.
Through the use of mobile phones, information about commodity prices, markets, inputs supplies, cultural practices, farm, and crop management is now made possible.
ICT tools help the value chain actors to market their products and secure fund to boost their productivity. Various transactions like money and business transaction, SMS on farm details via mobile and email with communication been made possible which in turn reduce cost of transaction and bring about better decision and management.
Web platform is now a vital tool for the chain actors to search for relevant information, best practice and opportunities in the agric-sector. Through this platform potential client which lead to purchase order, exchange and collecting of information on modern farming techniques. Also, several application developed help the chain actors to manage and keeping of proper record of farm activities, transaction for wise decision making and fund securities.

ICT: Value advance in Agric-Sector
Despite of various existed ICT innovations to boost the agricultural economy, the sector still remain unproductive and very minute turn over. Effort need to be made to fully maximize information and communication technology in agricultural sector and this can be realize by replicating and availability of existed ICT tools in the agric-sector nationwide, supporting research to develop new tools to aid growth in agriculture sector and making the value chain actors embrace and use the available resources.
In order to maximize the information and communication technologies in the agric-sector, all hand must come together to decide whether there exist alternative but if not coalition of stakeholders in research, infrastructures development, discipline among various stakeholders is a must to help advance agriculture through information and communication technology.

Recommendation
Lack of access to road prevent car movement, therefore, if we intend and interested in developing agric-sector through ICT, investment in ICT infrastructure and its access is a major concern. Training and capacity building to strengthening the skills and knowledge of the value chain actors is a priority, development of robust and simple ICT tools that every chain actors can easily understand, use and operate.
References.
1Informed Analysis Expert Opinions.  http://Agritrade.ctaint
2Enhancing young women’s engagement in ICT and Agriculture. Organized by CTA in collaboration with AYF
3 Leveraging ICT for Micro-Finance. Safal solutions Pvt Ltd.
4Leveraging ICT for BOP: Innovative Business Models in education, Health, Agriculture and Financial presentation transcript.
  New ICT in agriculture learning available. ACDI/VOCA Contributes to USAID Briefing Papers and Webinars

Comments

Post a Comment

Popular posts from this blog

MANAGING DISASTER: WAY FORWARD

MANAGING DISASTER: WAY FORWARD Currently in Nigeria, the approaches adopted towards managing disaster are pro-active approach. The Nigeria Environmental Management Agency (NEMA) embarked on a new initiative in disaster risk management to contain disaster or emergency through pro-active deployment of resources and personnel. This is toward raising awareness and building of early warning system and response mechanisms that can help in term of hazardous period but this could probably be statement alone and not accompany with action. Over the years Nigerians have been experiencing disasters that left most people in a dire poverty situation with no or little help from the government and agencies which lacks capacity and wherewithal to intervene in such difficult situation. Till now in some part of Nigeria, the reactive approach are still in practice because mostly the disaster will have occur before any intervention could be made either indirectly or directly and this would h...
Post a Comment
Read more

Value Chain Connection

Value Chain Final product does not just emerge as a manner from the sky but a product from series of activities which has undergone processes from its conception to the end user. A cocoa product like beverages has received one or two touches from the actors within the value chain for making it easy for consumption to the end user. In the agriculture sector, I could say that value chain start from the farm where the farmer start the plantation of the goods through the period of harvests, trading the goods, processing to the end user for final consumption. Value chain can be said to be the entire and whole production of system of certain goods and services which comprises of chain actor and supporters to ensure quality production of goods and services. Value Chain Actors and Supporters In the value chain, there are various and categories of people, institutions, and organization involve in one or two activities at some point or the others. These categories of people,...
Post a Comment
Read more

AT&T IS SELLING YOUR DATA TO POLICE

AT&T IS SELLING YOUR DATA TO POLICE T he Daily Beast recently revealed new details on AT&T’s intimate relationship with law enforcement agencies. Under a program called Hemisphere, they sell analysis of your private call detail records to law enforcement agencies. You don’t even have to be an AT&T customer or live in the U.S. to have your details included, and they will try to track you down if you change numbers. Because Hemisphere threatens your privacy, AT&T has tried to keep the program a secret. Coincidentally, AT&T told us this past summer they “rarely receive complaints that company operations have negatively affected users’ freedom of expression or privacy rights.” This is a chance to let AT&T know how how you feel about their disregard for your privacy. We have created a form to empower you to take complaints directly to AT&T. We have some suggested language, but please edit it as you see fit.Don’t let AT&T pretend we don’t car...
Post a Comment
Read more