The future of farming

The Future of Farming in Africa

Future of Farming in Africa

Agriculture has been the backbone of Africa’s economy for centuries, providing a source of livelihood for millions. However, farming in Africa faces numerous challenges that hinder its growth and development, from poor infrastructure to climate change. Despite these obstacles, there is immense potential in the agricultural sector in Africa. With advancements in technology and innovative approaches to farming practices, African farmers can transform their farms into profitable businesses while ensuring food security for the continent’s population. In this blog post, we will explore the future of farming in Africa and how it could shape the continent’s economic landscape.

The current state of farming in Africa

The current state of farming in Africa is characterized by small-scale subsistence farming, with a majority of farmers practicing traditional methods that have been passed down through generations. While agriculture remains the primary source of livelihood for many African households, it faces numerous challenges.

One such challenge is poor infrastructure, including inadequate irrigation systems and transportation networks. This makes it difficult to move crops from rural areas to urban markets and limits access to inputs such as seeds, fertilizers, and pesticides.

Another major issue facing farmers in Africa is climate change. Erratic weather patterns have led to crop failures and reduced yields, further exacerbating food insecurity on the continent.

Despite these challenges, there are opportunities for growth in the agricultural sector in Africa. The rise of farmer cooperatives has enabled smallholder farmers to pool resources and negotiate better prices for their produce at local markets. Additionally, new technologies such as precision agriculture and mobile-based market information systems offer solutions that can increase efficiency while reducing costs.

While farming in Africa faces significant challenges such as poor infrastructure and climate change-induced disasters; innovative approaches like farmer cooperatives and technological advancements hold promise for transforming the future of agriculture on the continent.

The challenges faced by farmers in Africa

The farmers face numerous obstacles that hinder their progress. One of the primary challenges faced by farmers is access to finance. Most African farmers operate on small scales, which makes it difficult for them to secure loans from banks or other financial institutions.

  1. Climate change: Many African countries are experiencing more frequent and severe droughts, floods, and other weather extremes that can damage crops and livestock.
  2. Limited access to inputs: Many farmers in Africa lack access to high-quality seeds, fertilizers, pesticides, and other inputs that can help them grow more and higher-quality crops.
  3. Lack of infrastructure: Poor road networks and inadequate storage facilities make it difficult for farmers to get their crops to market and protect them from spoilage.
  4. Lack of credit: Many farmers in Africa are unable to access the credit they need to invest in their farms and improve their productivity.
  5. Market access: Many farmers struggle to find buyers for their crops, and when they do, they may not receive fair prices for their products.
  6. Inadequate agricultural extension services: Many farmers lack access to information on best farming practices, new technologies, and other resources that could help them improve their productivity.
  7. Insecurity and conflict: In many parts of Africa, farmers face the threat of violence, theft, and other security challenges that can make it difficult to work their land and access markets.
  8. Land degradation: Land degradation, including soil erosion, nutrient depletion, and deforestation, is a significant problem in many parts of Africa, making it difficult for farmers to maintain productivity over the long term.

The potential for growth of the agricultural sector in Africa

To unlock its true potential, there needs to be an increase in investment towards modernizing farming practices and making advances in technology available to smallholder farmers. There also needs to be more cooperation between governments and private sectors on initiatives that aim at boosting production and increasing yield.

Furthermore, value addition could help create new markets for African produce both locally and internationally while reducing food waste across the supply chain. This will not only increase profitability but also provide employment opportunities for millions of people within the agricultural sector.

The youth also play a vital role in shaping the future of agriculture by bringing their innovation and creativity into farming practices. There are already many examples of successful young entrepreneurs who have transformed their communities through innovative agribusiness models.

Unlocking Africa’s agricultural potential requires all stakeholders – from governments to individuals – working together towards sustainable development that benefits everyone involved.

The role of technology in the future of farming in Africa

The use of technology in farming has the potential to revolutionize the agricultural sector in Africa. With the aid of modern technology, farmers can increase their yields and reduce costs while also improving efficiency.

One example of technological innovation is precision agriculture which allows for targeted application of fertilizers and pesticides based on data analysis. This ensures that crops receive only what they need, reducing waste and increasing yield.

Agribusinesses are also investing in drone technology to monitor crop growth, soil moisture levels, and detect pests or diseases early on. These drones allow for real-time data collection and quick decision-making by farmers.

Furthermore, mobile phone applications have been developed to provide farmers with weather forecasts, market prices for commodities as well as advice on pest control methods. This information helps small-scale farmers make informed decisions about when to plant their crops or how much fertilizer to apply at various stages of crop development.

The integration of technology into African farming practices has immense potential for growth especially among smallholder farmers who contribute significantly towards food production but face challenges such as access to credit facilities or lack of knowledge about new technologies. The future looks bright with more innovative solutions being rolled out every day!

The impact of climate change on farming in Africa

Due to unpredictable weather patterns caused by climate change, farmers have difficulty planning their planting season since rainfall patterns are changing rapidly. This leads to low crop productivity because seedlings may not germinate or may die due to inadequate moisture.

Moreover, high temperatures resulting from climate change also contribute to pest infestation and diseases affecting crops. Insects such as locusts thrive in hot conditions leading to massive destruction of crops leaving farmers with huge losses.

Climate-smart farming practices can help mitigate these challenges posed by climate change on African agriculture. Farmers should adopt sustainable agricultural techniques like conservation tillage and agroforestry which improves soil quality and conserves water.

Addressing the impact of climate change on farming in Africa requires collective efforts from governments, non-governmental organizations (NGOs), development partners among other stakeholders involved in promoting sustainable agriculture practices that will help combat the negative effects of global warming on African agriculture sector.

Conclusion

To fully realize the potential of agriculture in Africa, governments must prioritize the development of rural areas by investing in infrastructure such as roads, electricity, water supply systems and enhancing access to credit facilities for smallholder farmers.

Moreover, technological advancements that can improve production efficiency should be made accessible to all farmers regardless of location or farm size. The use of precision agriculture tools like drones for crop monitoring can significantly reduce waste while improving yields.

Climate change poses a threat to agricultural productivity globally. As such, it is crucial that African countries take concerted action towards mitigating its impacts through implementing sustainable farming practices like conservation tillage techniques and promoting agroforestry among others.

By prioritizing these interventions alongside other measures aimed at increasing farmer income streams like farmer markets coupled with supporting policies on value addition will go a long way toward unlocking the full potential of agriculture in Africa leading not only socio-economic transformation but also contributing positively towards achieving global food security.

office

Techurate implements e-banking for Nagpur Nagarik Sahakari Bank

Techurate Systems Pvt Ltd, a Global Smart Banking technology company has implemented digital services for The Nagpur Nagarik Sahakari Bank. Techurate’s Digital Banking SaaS (Software-as-a-Service) offering is designed as an accessible solution to help banks to modernize their operations.

Designed specifically for the banking sector, the platform has already seen adoption by banks in Africa and The Middle East.

The cost-effective SaaS offering by Techurate is designed to help banks reduce cost, drive operational efficiencies, and deliver world-class customer experiences. Techurate implemented this project jointly with the Finacle Core Banking team who implemented their Finacle 10 core banking platform for the bank.

Commenting on the same, Rajesh Edlabadkar- Head IT NNSB said, “Techurate, has successfully implemented the Retail and Corporate Banking Digital banking modules (internet banking and mobile banking) seamlessly by integrating it with our Finacle (10) core banking system. The Techurate team was responsive, professional in their approach and showed good domain knowledge application in making our launch a success.”

Commenting on the same Harshavardhan Pusala Founder and Managing Director at Techurate Systems Private Limited said, “Working with the NNSB team has been a great privilege. It is encouraging to see co-operative bank adopting technology not only to enhance customer experience but also to reduce costs. As a company we have learned a lot from this project which is reflected in the quality and functionality of the software we are developing for them and for our clients going forward”.

The e-banking suite launched by the bank on Ganesh Chaturthi day is the bank’s maiden step in its Digital Transformation journey. Internet banking channels are expected to reach its customer base, spread across Nagpur thereby enhancing service reach, complementing its physical branches.

Customers will also be experiencing the convenience of Mobile banking helping the bank onboard more customers digitally and provide them a full spectrum of services at the click of a button. NNSB is effectively leveraging best technologies in core and digital banking in pursuing growth and enhanced customer experience.

20221109125853

Techurate introduces Tigiverse to Revolutionize the Banking Experience

Bengaluru (Karnataka) [India], November 9 (ANI/GPRC): Techurate Systems Pvt Ltd, a Global Smart Banking technology company has launched Tigiverse. A digital service platform that embodies an ecosystem of product modules curated to effect a complete digital transformation of enterprise in the financial services industry. Tigiverse offers a wide bouquet of services ranging from mobile to internet banking to the evolving Web 3. O and Metaverse space. Tigiverse made a dazzling debut as Techurate’s hero showcase at the Singapore Fintech Festival 2022, the largest FinTech Festival in the world and a knowledge platform for the global FinTech community.

Techurate identified an opportunity in the Indian market to meet the needs of customers that expect more than conventional online banking and set out a plan to deliver a digital offering, called Tigiverse.

Techurate’s Tigiverse streamlines and automates teller operations and provides in-branch self-service options to help Banks better serve customers more quickly and efficiently. Tigiverse is an intelligent automation solution for Banks to digitalize customer interactions ranging from onboarding, deposits, withdrawals, and wallet banking helps with instant loans, etc. It helps replace paper-based systems and promotes Green Banking.

Tigiverse helps automate the reconciliation process of the bank as it has AI and ML capabilities. Tigiverse streamlines the business process and offers total automation of activities, from purchase requisition to GRN. It aims to provide companies with better financial planning, budgeting, financial risk assessment monitoring, and control.

Commenting on the same Harshvardhan Pusala Founder & Managing Director, Techurate Systems Private Limited said “The banking industry is dynamic and in a state of constant change. There is a constant demand for better services and greater user experience. This is our challenge at Techurate to constantly work with the banking & finance industry to meet these changing demands to delight consumers. Techurate’s Smart Branch provides banks with a single omnichannel platform, which will enable banks to streamline customer journeys across devices and channels”.

In the near future Banks can establish virtual branches in the Metaverse and offer consumer touchpoints for engagement, such as the ability to communicate securely with an avatar of a financial advisor without physically visiting the branch. By providing cryptocurrency wallets and custodial services, access to cryptocurrency marketplaces for trading and investing, and advisory services to Wealth Management clients, several Banks, and financial institutions are already setting the pace globally.

“Personally, I think the Metaverse could be the most important tech trend to hit banking since the internet. However, we are still in the early days. At Techurate we are already making products for web 3.O and the Metaverse. At Techurate it is our mission to deepen financial inclusion and transform billions of lives. To transform the lives of over a billion people by 2025 leveraging “Tigiverse” digital services platform.” added Mr. Pusala.

Techurate is a Global Smart Banking technology company with a fine blend of technology skills, strong domain knowledge, 500+ years of industry experience in IT. Techurate has worked in several highly under-banked nations and has successfully leveraged the power of Digital in bringing a vast audience into the organised banking fold. Headquartered in Bangalore, the company has served around 250+ Banks and Financial Institutions across 15+ geographies globally in a short span.

With its flagship products and services, the company has scripted several success stories in emerging markets like Zambia , Cameroon, Botswana, that they are looking to repeat in Latin America and India.

Techurate provides highly customised Digital Banking Technology Solutions for Banks and Financial Institutions that systematically deliver greater agility, measurable business value and enhanced customer experience. For further information visit the website

1657188913-813

Rural India’s inclusion in the Indian banking system

The Reserve Bank of India has pointed out that the banking capacity of regional banks provides significant opportunities for the economy and banks to build a stable base of retail deposits and reduce volatility through portfolio persification. Indeed, the recent crisis has highlighted the need for banks to reduce their dependence on wholesale deposits and loans and build a portfolio of retail assets and liabilities to ensure financial stability.
Current policy goals of inclusive growth and financial stability cannot be achieved without affordability. However, seeking to improve access to financial services through the introduction of digital products and processes poses challenges in finding trade-offs between the goals of improving access to financial services and financial stability. Few facilities for self-management of infrastructure and digital banking services, unless financial and operational support is provided by digital financial and operational companies such as Techurate.

The facts remain in terms of numbers, with local regional banks far outnumbering city banks. Most of our country still operates from these segments and continues to work on traditional banking methods suffering from poor service and trips interrupted. The global market with a subscriber base of 1.16 billion and has experienced strong growth over the past decade, Smartphone penetration is around 35%; it also leaves the majority hooked on transaction-capable phones. The crux of the problem lies in the inefficient finances that RRBs face due to their reliance on NABARD and India’s financial inclusion is far superior to that of major developed and emerging economies. Having a huge population per bank branch but lacking access to basic financial services like savings accounts, credit cards, and debit cards, internet banking is a major hurdle that needs to be overcome by passing to digital and undoubtedly the only one thanks to meeting the demographic challenges. posed by rural India.

In India’s quest for financial inclusion, digital is a beacon of hope and arguably the only way to address the demographic challenges posed by rural India. Financial inclusion efforts in India, as stakeholders realize the need for sustainable business models focused on accessible and cost-effective financial services, products and processes, synergistic partnerships with non-banking entities, including technology service providers for efficient management of low value and high volume transactions, especially in remote areas and shadow banking zones, and adequate regulatory and risk management policies that ensure financial inclusion and financial stability.

It’s not just about providing a minimum of digital services; it’s about changing the lives of millions of people through convenient and easy-to-use banking services one of the few Fintechs like Techurate offers a persified approach, a well-developed Core+ digital banking platform available as a ” Bank-IN -A -Box” service. This is a unique B2B2C model that we believe will bring digital banking inland in a sustainable way for these RRBs. By Harshavardhan Pusala, Founder & Managing Director at Techurate Systems Private Limited.

Harshavardhan Pusala, Founder and managing director Techurate wins World’s Greatest Leaders Awards 2021-2022

Bengaluru (Karnataka) [India], September 1 (ANI/GPRC): Techurate is the emerging brand of the year 2022 at the World’s Greatest Brands & Leaders Awards 2021-2022. Harshvardhan Pusala, Founder and Managing Director, Techurate Systems Pvt Ltd has been awarded the World’s Greatest Leaders Awards 2021-2022 at the 18th Edition of Asia-Africa Business & Social Forum.

18th Edition of Asia-Africa Business & Social Forum was organized by AsiaOne magazine on the theme of Celebrating 75 Years of India’s independence. The aim was to highlight the Glorious Journey of Development & Progress commemorating 75 Years of Indian Excellence and recognize the contribution of great business, social and political leaders in this glorious odyssey. The 18th Edition of Asia-Africa Business & Social Forum 2022 also organized the Greatest Brands & Leaders 2021-22 Asia – Americas – Africa and COVID-19 Commitment Awards 2021-22. Techurate was recognized as an emerging brand and its Founder and Managing Director Harshvardhan Pusala was awarded the World’s Greatest Leader at the event.
Commenting on the same, Harshavardhan Pusala, Founder and Managing Director of Techurate said; “I am humbled by this award bestowed upon me and am proud of Techurate’s contribution to the fast-growing Fintech industry in India. The award is a testimony to our contribution to financial inclusion in underserved markets around the world. I proudly share this award with all our employees who have strived hard to achieve this and with all our clients who bestowed their faith in us.”

Techurate is a Global Smart Banking technology company with a fine blend of technology skills, strong domain knowledge and 500+ years of industry experience. Techurate has worked in several highly under-banked nations and has successfully leveraged the power of Digital in bringing a vast audience into the organized banking fold. Headquartered in Bangalore, the company has served around 250+ Banks and Financial Institutions across 15+ geographies globally in a short span.

With its flagship products and services, the company has scripted several success stories in emerging markets like Zambia, Cameroon, and Botswana, that they are looking to repeat in Latin America and India.

Techurate provides highly customized Digital Banking Technology Solutions for Banks and Financial Institutions that systematically deliver greater agility, measurable business value, and enhanced customer experience.

hello1

Techurate introduces Smart Branch to enhance Customer Experience

Bengaluru (Karnataka) [India], September 22 (ANI/GPRC): Techurate Systems Pvt Ltd, a Global Smart Banking technology company has launched its Smart Branch WORK in the Indian market. Techurate identified an opportunity in the Indian market to meet the needs of customers that expect a paper-free and easy way to bank and set out a plan to deliver a digital offering, called Smart Branch.

Techurate’s Smart Branch Solution streamlines and automates teller operations and provides in-branch self-service options to help Banks better serve customers more quickly and efficiently. Smart Branch is an intelligent automation solution for Banks to digitalize customer interactions ranging from onboarding, deposits, withdrawals, etc. It helps replace paper-based systems and promotes Green Banking. The solution comprises of paperless Workflow Management Solutions, Smart Operations, and Smart Assistants.
Commenting on the same Harshvardhan Pusala Founder & Managing Director, Techurate Systems Private Limited said “Customers expectations for better services and greater user experience is a continuous journey and not a destination. We at Techurate, are constantly working with the banking industry meet these demands and increase their agility to build a solid foundation for the future of banking. Techurate’s Smart Branch provides banks with a single omni-channel platform, which will enable banks to streamline customer journeys across devices and channels”.

Smart Branch services are designed to provide a banking experience while on the go. The ability to meet with banking staff in paperless branches adds to the convenience of fully digitalized operations. Customer service staff can now focus on one-on-one consultation rather than back-end chores with the implementation of Techurate’s Smart Branch solutions. This will help banks in automation of provisioning, management, and scaling of applications.

Techurate has successfully implemented this solution for the Zambia National Commercial Bank (Zanaco), in Zambia. It is licensed by the Bank of Zambia, the central bank and national banking regulator. Zanaco has more than 70 branches and 8000 express agents to serve its customers. Techurate’s Smart Branch has not only created a self-service interface for clients, but it has also replaced paper-based forms with digital ones and given bankers a single view of customer information. Because the smart branch automates the workflow by decreasing manual transactions, the manned tellers at the branch have been significantly reduced.

The paperless workflow Management Solution automates processes in the middle and back offices. As access to the core system is restricted, banking transactions are more secure. The solution’s intuitive user interface allows bank employees to complete transactions right after implementation.

Techurate is a Global Smart Banking technology company with a fine blend of technology skills, strong domain knowledge, 500+ years of industry experience in IT. Techurate has worked in several highly under-banked nations and has successfully leveraged the power of Digital in bringing a vast audience into the organised banking fold. Headquartered in Bangalore, the company has served around 250+ Banks and Financial Institutions across 15+ geographies globally in a short span.

With its flagship products and services, the company has scripted several success stories in emerging markets like Zambia , Cameroon, Botswana, that they are looking to repeat in Latin America and India.

Techurate provides highly customised Digital Banking Technology Solutions for Banks and Financial Institutions that systematically deliver greater agility, measurable business value and enhanced customer experience. For further information visit the website http://www.techurate.com

This story has been provided by GPRC. ANI will not be responsible in any way for the content in this article. (ANI/GPRC)

This story is auto-generated from a syndicated feed. ThePrint holds no responsibility for its content.

WorthAgreement

Techurate signs JV agreement worth 15 million USD in Africa, Leverages growth in Africa through a Localization Partnership Model.

Bangalore (Karnataka) [India], July 13 (ANI/GPRC): Techurate Systems Private Limited is entrenching deeper in Africa via the local partnership route. It has signed a JV worth 15 million USD with a financial Services conglomerate in Africa.

This comes at a time when diversified services groups are looking at In-house Digital Transformation partners, consolidating the services model. Techurate Systems Pvt Ltd, a Global Smart Banking technology company has embarked on an expansion drive. The company will look to hire professionals in the current financial year to drive its expansion.
Commenting on the same Harshvardhan Pusala, Founder and Managing Director, Techurate Systems Private Limited said “Techurate is leveraging its product platform strength and entering specific African Markets on a JV route to be the sole Digital Transformation partner to the financial services groups. This will allow us to leapfrog into the 100-crore-plus league infusing a quantum growth on the top line. In India, Techurate will be a dominant player offering Bank in Box services to small, medium banks, and Microfinance companies. Techurate’s one of its kind integrated, core + digital platform as a single stop solution to thousands of such Institutions.”

The largest untapped market that the international financial system has lost track of is the continent of Africa. There are 330 million adult Africans, according to some estimates, who do not have access to formal financial services, which presents enormous prospects for financial technology companies that are willing to take them on. Remittance via mobile has picked up at a rapid pace in Africa, with Kenyans using mobile money services for over eight years already.

Since its inception, Techurate products have touched millions of customers around the globe in accessing basic banking and financial services through mobile and internet channels. The company has made pioneering inroads in the fintech revolution and aspires to ‘digitally transform’ world communities towards exponentially enhanced financial inclusion delivery models.

The young people of the African continent can touch and master numerous technology that one would attribute much more easily to those on other continents thanks to technological advancements and increased connectedness. On the other hand, the limitations of the continent necessitate the creation of solutions that are tailored to how locals conduct business, particularly with regard to payment methods. This is how Africa, in just 5 years, rose to prominence as one of the financial industry’s most productive centres. The team at Techurate is developing financial products specially suited to the people of Africa.

Techurate has emerged as an independent service provider, hosting all willing banks with a digital platform and a solutions provider with an integrated product suite for Core banking + Digital Banking. Perfectly poised to serve this willing market. With virtually zero capital outlay to the banks, these companies charge them only a user fee per subscriber, making the proposition irresistible.

“Techurate aspires to bring innovation, transformation, and a truly smart banking experience to every bank in the world. We strive to build transformative banking innovations, enable business development, grow a diverse global team, and make a positive impact in the communities that matter” added HarshvardhanPusala

Techurate is a Global Smart Banking technology company with a fine blend of technology skills, strong domain knowledge, and 500+ years of industry experience in IT. Techurate has worked in several highly under-banked nations and has successfully leveraged the power of Digital in bringing a vast audience into the organised banking fold. Headquartered in Bangalore, the company has served around 250+ Banks and Financial Institutions across 15+ geographies globally in a short span.

With its flagship products and services, the company has scripted several success stories in emerging markets like Zambia, Zimbabwe, Cameroon, and Botswana, that its looking to repeat in Latin America and India.

Techurate provides highly customised Digital Banking Technology Solutions for Banks and Financial Institutions that systematically deliver greater agility, measurable business value and enhanced customer experience.

Frame-3

“The future of banking”- Business India

Keeping in line with the paradigm of moving towards digital reinvention from early of digitization, Techurate launched its digital services platform ,Tigiverse at Nagpur Nagrik Sahakari Bank , Nagpur last year. Gathering momentum , its added a few more multi state cooperative banks to its portfolio in 2022.
Tigiverse a digital service platform that embodies an ecosystem of product modules curated to effect a complete digital transformation of enterprise in the financial services industry offering a wide range of services from mobile to internet banking to the evolving Web 3.0 and Metaverse space.