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Block Commodities Ltd (BLOC)
Block Commodities launches Ecosystem Pilot Project in Uganda
14-Sep-2018 / 07:00 GMT/BST
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The issuer is solely responsible for the content of this announcement.
Block Commodities
London, 14 September 2018
Block Commodities launches Ecosystem Pilot Project in Uganda
Block Commodities Limited (NEX: BLCC), the innovative commodity trader
operating in Africa, is pleased to announce a strategic partnership with
Pure Grow Africa Limited (Pure Grow), a leading supplier of high-quality
agricultural produce based in Uganda. Block and Pure Grow will be working
together in connection with the first pilot of a food project commodity
cycle ecosystem (Pilot Ecosystem ) in Uganda.
Pure Grow shares Block Commodities' values of providing high quality
products at fair prices with transparency, and a mission to empower
communities with modern technologies for improved agri-business and
agro-value chain development.
The two parties will also establish a strategy to maximise the project's
results, including:
- development of a call centre
- creation and distribution of a mobile app
- production and transmission of a television show
- development of logistics and warehouse protocols and
- the creation of a 'fertiliser swap' opportunity for harvested
agricultural products.
Pure Grow is an innovative farm supporter in Africa, embracing modern
technologies and applications to promote economic growth. while creating
community awareness and shared values. Farmers linked to Pure Grow aim to
adhere to the highest standards of food safety, environmental and
sustainable policies.
Through the agreement, Pure Grow will initially introduce approximately
1,000 farmers and buyers to the Pilot Ecosystem. Block Commodities will
implement and support the Ecosystem by providing finance and fertiliser
products, as well as supplying the technology. It will coordinate loans in
cryptocurrencies (Dala token) for the selected team of farmers from Pure
Grow Africa.
The aim of the loans is to provide farmers with funds to purchase
fertilisers at affordable rates and better repayment terms, allowing them to
increase production and scale up from a subsistence to commercial level.
Chris Cleverly, Executive Chairman at Block Commodities commented: "I am
delighted to partner with Pure Grow Africa to push forward our ecosystem
project and support smallholder farmers to grow production."
Bobby Juuko Kimbugwe, Director at Pure Grow Africa commented: "We are
placing smallholder farmers at the centre of our work; they are at the core
of what we do. We want them to understand that they do not need to have
money in their hands to be able to grow production. Block Commodities is the
ideal partner to support growth in African farming. "
According to World Bank, the sub-Saharan agribusiness market could reach a
value of US$1 trillion by 2030, highlighting the great opportunity for
African agriculture to become a leading player in this market.
Upon successful completion of the Pilot phase, Block Commodities and Pure
Grow aim to roll out the scheme to reach approximately 50,000 farmers linked
to Pure Grow. It is intended to expand he project to cover other countries
in sub-Saharan Africa in due course.
About Block Commodities
Block Commodities' strategy is to maximise the value of African agricultural
and other commodities through the deployment of blockchain technology. The
resources will be linked through the vertical integration of primary
industries down to consumers via blockchain platforms. Using blockchain's
ability to dynamically incorporate all market participants into an efficient
ecosystem, Block Commodities aims to facilitate the commercial operation of
such ecosystems in the context of the agricultural production cycle.
In reclaiming the value lost in African agricultural and extractive
industries through inefficient supply and distribution systems, Block
Commodities aims to help sub-Saharan African farmers raise productivity and
secure better returns for their produce. This is an important step in
establishing African communities as significant future global agricultural
producers.
For more information visit: http://www.blockcommodities.com [1]
About Pure Grow Africa Limited
Established in 2015 in Uganda, Pure Grow Africa focuses on promoting
sustainable agri-business and agro-value chain development within
communities by using safe, effective modern agro-industrial technologies.
Pure Grow provides the freshest produce, delivered anywhere in Uganda the
next morning to some of the biggest names in food service.
Their products include grains, beans, flour, fertilisers, organic fruits and
vegetables. Pure Grow works closely with farmers based all across Africa
through its initiative called The Farmers' Pride, getting involved in every
aspect of the food production and distribution process, from seed planting
through to produce transportation and final delivery, farmers' trainings,
lobbing for farmers and value addition among others. Pure Grow is
certificated by the regulatory bodies in Uganda, and all the company's
products are fully traceable.
For more information visit http://www.puregrowafrica.com/ [2]
The Directors of the Company accept responsibility for the content of this
announcement.
For further information, please contact:
Block Commodities Limited
Chris Cleverly info@blockcommodities.com
NEX Exchange Corporate Adviser:
Alexander David Securities Limited
David Scott - Corporate Finance +44 (0) 20 7448 9820
James Dewhurst - Corporate Broking +44 (0) 20 7448 9820
Public and Investor Relations:
Cassiopeia Services - Stefania stefania@cassiopeia-ltd.com
Barbaglio
ISIN: GG00B4QYTJ50
Category Code: MSCH
TIDM: BLOC
Sequence No.: 6015
EQS News ID: 723585
End of Announcement EQS News Service
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(END) Dow Jones Newswires
September 14, 2018 02:02 ET (06:02 GMT)
