A new agreement has been signed to digitalize the contract farming process, improving contract enforcement and financial accessibility for farmers and agribusinesses.
The agreement aims to digitalize the contract farming process between farmers and agribusinesses, enhancing financial accessibility for both parties. Dr. Belete Molla, the Minister of Innovation and Technology, emphasized the importance of engaging the private sector across various industries to advance Ethiopia's digital transformation.
The Ministry of Innovation and Technology (MinT) has entered into an agreement of understanding with Agri Wul Technology, an affiliate of Begize OptiMAX.
The agreement aims to digitalize the contract farming process between farmers and agribusinesses, enhancing financial accessibility for both parties. Dr. Belete Molla, the Minister of Innovation and Technology, emphasized the importance of engaging the private sector across various industries to advance Ethiopia's digital transformation.
The minister expressed his commitment to implementing an agreement aimed at advancing the digital transformation of Ethiopia's agricultural sector. Over the next two years, this initiative will digitalize over one million agricultural contracts, aligning with the broader national objectives of Digital Ethiopia. The agreement seeks to modernize agricultural operations, streamline processes for all stakeholders, and improve access to contemporary information resources. This collaborative effort is anticipated to significantly impact the agricultural sector's integration with Ethiopia's digital goals.
Zerubabel Kibebe, the founder and managing director of Agri Wul, announced that a user-friendly digital information platform will be launched to align with the Ethiopian Contract Farming Law. This initiative will also cater to the requirements of other stakeholders, including financial institutions.
The platform serves as more than just a contract management tool; it also functions as an agricultural project management system designed to enhance agricultural productivity by promoting best practices in farming.
Following the project's implementation, efforts will be made to train and support stakeholders to effectively utilize the technology. This will include capacity-building initiatives within the agricultural sector, support for technological advancements in agribusiness, enhancements to current operations, and ongoing research to better prepare for the second phase of the project, which aims to expand its reach.
In order to improve the lives of millions of farmers, ensure financial access and strengthen the digital economy of the sector, it has been pointed out that the agriculture sector will not only organize up-to-date information but also increase the competitiveness of the sector
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