How we are making Impact
We understand the importance of making informed investments. We are committed to investing in our smallholder farmers to provide viable investment opportunities for our investors. UfarmX has engaged, trained, and collected data of over 600 rural farmers in Oyo State, Nigeria, adopting organic and current best farming practices.
Underserved rural communities and underutilized agricultural sectors are prevalent issues across Africa that have significantly impacted employment opportunities and advancements in farming. Nigeria serves as our initial site of impact due to the high levels of youth unemployment rates and the current government’s eagerness in addressing this issue by implementing policies to increase growth in the agricultural sector.
According to the National Bureau of Statistics Nigeria, youth unemployment rates during the 3rd quarter of 2018 was 38%. In 2017, rural youth unemployment rates were as high as 61.6%. These data statistics highlight the undeniable need for job creation throughout Nigeria, especially for youths. In an effort to target unemployment and revitalize the agricultural industry, the current administration has initiated the Livelihood Improvement Family Enterprises (LIFE) programme. According to the The Nigerian Federal Ministry of Agriculture and Rural Development’s (FMARD) website, “the overall goal of the (LIFE) programme is to contribute to the attainment of food security and economic growth of Nigeria through job creation, value addition, and promotion of business enterprises in agriculture, increasing rural income generation and improved livelihoods for youths and women.”
UfarmX recognizes the shared goals between its mission and the mission of the LIFE programme. We believe operating within a country in which the government is actively working to tackle these issues will help to support and accelerate the improvements in job creation and food security. We will continue to invest our time and resources as we are fully dedicated to our farmers and investors.