Nigeria’s Agriculture sector has enormous potential to achieve scale if the right technology and innovative solutions are combined with carefully structured finance. This was the key takeaway from the Code Cash Crop 3.0 industry platform organized by AFEX Commodities exchange, which brought together key stakeholders in the agriculture, technology and finance sectors.

In her opening remarks, Olatomiwa Williams, Country Manager, Microsoft (Nigeria and Ghana), acknowledged that one of the gaps in Africa’s agriculture sector is the absence of value additions to the products. She said innovations are required to help farmers achieve scale in agricultural production and develop the entire value chain.

The Microsoft Country Manager informed stakeholders that recently, the company hosted a hackathon that attracted 70,000 young people between 18 to 40 years old to explore ways of solving the issues facing Nigeria’s agricultural sector. “Microsoft sees Africa as the region to reinvent its transformation agenda and will continue to support the growth and development of the agriculture sector.” 

Speaking further, she stressed the need for farmers to leverage partnerships that can create more economic opportunities and provide the platform to showcase the brightest minds in the country.  She assured the forum that Microsoft would continue to support local solutions to address the challenges of the agriculture sector in Nigeria. 

In addition, she stated that the solution to agricultural development in the region lies in technology.

The event featured three-panel sessions which focused on critical topical issues like “The Present and Future of Agricultural Commodity Trade in Africa,” moderated by Mr. Teslim Shitta-Bey, Managing Editor/Chief Economist, Proshare; “Derisking Crossborder Transactions to Simplify Trade,” moderated by Mr. Olaolu Ajose, Head of Engineering, Chaka, and “Financing the Emergence of Efficient Agriculture Marketplace for Africa” moderated by Mr. Martin Mbonu, Investment Associate, Vested World. 

It also had a hackathon session that allowed six startups to pitch their ideas at the event.