Yo! Uganda Participates in the 1st NECDCA 2022
Yo! Uganda Limited is presenting at the 1st National Empowerment & Development in Commercial Agriculture Conference 2022 (NEDCA) in Kampala from today Thursday 7th December until Friday 8th December. Yo! is participating as a silver sponsor at the event.
This timely conference seeks to provide remedies to some of the principal challenges facing the agricultural sector.
Uganda’s agricultural sector
According to World Trade Organization, investors consider Uganda’s agricultural potential to be among the best in Africa, with low-temperature variability, fertile soils, and two rainy seasons over much of the country – leading to multiple crop harvests per year. According to the UN’s Food and Agriculture Organization, Uganda’s fertile agricultural land has the potential to feed 200 million people. The UBOS estimates that about 70% of Uganda’s working population is employed in agriculture.
Despite all these invigorating statistics, Sector growth is also impaired by the lack of quality packaging capabilities, insufficient storage facilities, poor post-harvest handling practices, shortage of agricultural credit, high freight costs, the lack of all-weather feeder roads in rural areas, the complicated and inefficient land tenure system, and limited knowledge of modern production practices.
FinTech in Agriculture
FinTech has a key role to play in supporting agriculture’s contribution to economic growth and poverty reduction. The use of FinTech in agriculture can help to digitize and connect the entire agricultural industry and provide transparency to all participants throughout the supply chain. The result is a closer relationship between producers, buyers, lenders, and insurers while at the same time lowering risks on loans and opening up liquidity channels to flow faster, more easily, and with better terms.
Yo! Uganda is committed to providing solutions to some of the challenges within the sector. Over the last few years, we have been involved in agricultural projects in partnership with UNCDF and MasterCard.
For more details about this and other FinTech projects we’re undertaking, visit our booth at the #NEDCA2022 taking place from today Thursday 8th to Friday 9th December at the UICT Grounds, Nakawa.