Releaf Nigeria is an online marketplace that connects buyers and sellers of agri-products to trustworthy customers. The company aims to help curtail the lack of trust that is prevalent in the agribusiness sector.
Back in the day, agriculture was evidently the prime mover of the Nigerian economy before the focus shifted to petroleum in 1958. However, recent studies have shown that there appears to be a gradual return to this ancient pathway, with both the government and individuals taking bold steps to tap into the limitless opportunities in the Nigerian agricultural sector, in which as at 2010 has brought about employment for about 30% of the population.
The sector is steadily growing and is slowly being transformed by commercialization and technology at the small, medium and large-scale enterprise levels.
Three young Nigerians, Isaiah Udotong (CEO), Ikenna Nzewi (COO) and Uzoma Ayogu (CTO) are leveraging this steady growth to change the way business is done in the sector with their startup, Releaf Nigeria, Releaf.ng.
See Also: How to Take Care of Young Broiler Chicks
Before their product launch on August 1, 2017, the founders spent time getting acquainted with the Nigerian agricultural space. According to the founders, Releaf now has about 300 active users, 100 connections and 600 companies on the platform. The company also just recently secured $120,000 from Y Combinator (YC), a Silicon Valley-based incubator. The capital raised will now be used to pilot their model in the Nigerian agricultural space.
Releaf ensures that its users go through a rigorous verification process: they must be registered with the Corporate Affairs Commission (CAC) and have two references. For local farmers, the company has provided a way for them to deal under already registered organisations with verified platforms. These registered organisations could liaise with farmers, get their crops and sell on their behalf.
To use the platform, sellers have to register and indicate which products they have to sell, before being presented with a list of verified buyers to contact for those commodities. Releaf facilitates the communication process between both parties.
Isaiah Udotong, Releaf’s CEO, says:
Our vision is to make doing business in Africa easier. For too long, reliable business has been restricted to few trusted partners and have not found success finding partners on B2B sites. We believe that with a larger trusted business network, private sector growth can be stimulated across the African continent.
One of Nigeria’s biggest problems is exportation and should this platform take off, we could be seeing a way for agribusinesses to safely export their proceeds.
More on NaijaFarmers:
- Abubakar Abba Bello Biography – Managing Director/ CEO NEXIM Bank
- Five Health Benefits Of Soursop You Probably Didn’t Know
- Superb Yam Delicacies – Top Delicious Meals You Can Make With Yam
- Agriculture in the Digital World – The Future of Agriculture
- Kalahari Red Goats Farming in Nigeria – All You Should Know About These Breeds