Bringing Banking Services to Rural Livestock Markets- Ibrahim Maigari Ahmadu
www.livestock247.com: Bringing Banking Services to Rural Livestock Markets- Ibrahim Maigari Ahmadu
When we launched Livestock247.com (Nigeria’s 1st Online Livestock Platform) in 2018, we knew that technology had a role to play in solving the many challenges in the ecosystem.
We experienced and witnessed so many pain points shared by all stakeholders in the value chain.
One that stood out was the issue of cash transactions at rural livestock markets.
In case you don’t know, livestock trading is a multi-billion Naira business taking place on weekly basis in various locations in Nigeria. (Mostly in the northern part).
Rural livestock farmers and traders normally take their livestock to local markets to sell, and they always prefer cash for many reasons.
With the upsurge in criminal activities in northern Nigeria, these livestock markets became soft spots for insurgents, rural bandits, and kidnappers.
We saw a problem that needed an innovative technological solution.
We pitched our vision of a cashless rural livestock market to many banks, but only one saw the BIG PICTURE.
ZENITH BANK PLC
Ego Ossai (our account officer) and Jacquiline Udeh (branch head at Wharf Road, Apapa, Lagos Branch of Zenith Bank Plc), two superwomen with a never say die attitude that are the human embodiment of the people, technology, and partnership spirit of Zenith Bank moved mountains and got it done within a year.
All Praises to God, LivestockXpress (in partnership with Zenith Bank Plc) will be launched on 20/6/2021 at Charanci International Livestock Market in Katsina State.
So why are we so excited?
With LivestockXpress, rural livestock buyers and sellers do not have to carry cash to any livestock market.
We are bringing banking services to them.
All that is needed is a specially developed credit/debit card.
We are deploying specially configured POS terminals, designed to work off-grid, at rural markets.
Smallholder rural livestock farmers can open bank accounts, deposit, transfer, and withdraw money.
Livestock merchants can send money to any livestock market from anywhere, at any time, and get/receive value instantly.
This product will eliminate cash from our rural markets, promote rural security, enhance commerce, deepen financial inclusion, and empower smallholder rural farmers, especially women.
Our appreciation goes to Dr. Tope Fasoranti (ED, Zenith Bank Plc), and Mr. Nnamdi Edekobi (Zenith Bank Plc), for all the support and guidance.
Also, a big congratulations to our tech team, led by our SUPERSTAR CTO, Olubodun Akinyele, for all the hard work (as usual).
For more details on LivestockXpress, please call 0906-290-3550, 0906-290-3546 or visit:
Ibrahim Maigari Ahmadu