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The AFIDE Narrative - Agriculture - Nairaland

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Financial Inclusion Of Daily Earners — The AFIDE Story / The AFIDE Story — The Narrative / How AFIDE Put A Smile On Mama Alalubusa's Face — The AFIDE Story Episode 1 (2) (3) (4)

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The AFIDE Narrative by Inuayo007: 3:14pm On May 11, 2021
Food security and financial inclusion are very crucial to the society; they help in keeping the sanity of the average man and also allows a comfortable life. Hence, in a bid to establish an enabling opportunity which gives daily earners the privilege to enjoy the benefits of Agriculture and basic social needs via their daily contributions for a better life and a way of including their finances to national economy, FarmKonnect Nigeria PLC — an agribusiness Company and the first Agricultural Real Estate in Nigeria as well as the first Agribusiness firm to launch an Agricultural Electronic Extension Service Center in Nigeria has created a project named AFIDE; which means Agricultural and Financial Inclusion of Daily Earners.

This initiative aims at improving lives and conditions of daily earners, that is, those who don't earn salaries in large sums, but earn daily profits or commission from sales commodities and or services rendered.

Harnessing the market, AFIDE is a cooperative management system which includes mini, micro and macro cooperative societies in the country in cohesion with the administrative structures of the cooperatives and Trade Unions in target markets and catchment areas (which are currently located in Lagos State, Osun State and Ibadan metropolis respectively).

As a registered cooperative society, FarmKonnect Multipurpose Cooperative liaises with cooperative representatives and leaders of trade unions as well as market influencers to promote the interest and financial security of their members.

Conclusively, AFIDE exists to help Daily Earners entrust their daily funds into agriculture and allow them to make profits while their contributions become security for them to secure loans from banks in partnership with AFIDE. The banks shall transfer the loan to FarmKonnect Multipurpose Cooperative before it's being finally disbursed to subscribers while AFIDE under the supervision of FarmKonnect Nigeria PLC gives them cooperative guarantee.

Finally, The AFIDE project is designed such that small and medium scale entrepreneurs at the grassroot level operating in the local markets under a cooperative society or a trade association can be part of the mission to achieve food security and zero hunger while they earn sustainable income from agriculture.

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