Johannesburg, 21 Oct 2024
AfriGIS’ Team AgriEco was crowned the winner at the global SustainableFinance.Live 2024 hackathon, held from 27 September to 10 October 2024. Organised by Finextra Research and ResponsibleRisk, the event focused on innovative solutions for natural capital finance, bringing together experts from finance, agriculture, technology and environmental science to tackle sustainability challenges.
AgriEco Hub stood out as a powerful tool for channelling green finance into agriculture, addressing the need for accessible, measurable finance solutions that promote sustainability and biodiversity while reducing financial risks. The platform connects smallholder and commercial farmers with financial institutions to drive profitability and resource efficiency.
“The hackathon allowed our team to concentrate on research and development for this solution, which we think fills the gap in green finance tools by seamlessly integrating smallholders, commercial farmers and financial institutions to ensure green finance is directed where it’s most needed,” said Rochelle Mountany, CEO of AfriGIS. “In addition to improving sustainable agriculture, the approach also supports biodiversity and – above all – makes sure that financial risk is reduced.”
Team AgriEco comprises CF Haasbroek, Christopher Ueckerman, Dicky Thomas, Eddie Griffiths, Liesel Lange, Martemie Le Roux, Nicolas Kemp and Tondani Phaswana. The team pitched a platform that helps commercial and smallholder farmers optimise resource use, promote collaboration and access sustainability-linked funding. Their solution addresses the specific challenges faced by farmers and financial institutions, such as water scarcity, climate change and risk evaluation, providing tools for farm management, collaboration and access to funding.
“Working as a team over the past 10 days has been amazing, and we’ve once again realised that when like-minded individuals come together, we can change the world, one sustainable solution at a time,” said team spokesperson Dicky Thomas. “We’re ecstatic about the win and excited to launch the solution.”
What does it do?
AgriEco Hub is designed to optimise resource use, improve market access for smallholder farmers and enable financial institutions to invest in regenerative agriculture with measurable environmental, social and governance (ESG) outcomes.
Key features of the platform include:
- Real-time farm management: Commercial farmers benefit from tools that monitor water availability, weather patterns and crop health, ensuring better resource management and climate resilience.
- Collaboration between farmers: The platform promotes shared resource use, co-operative farming and market access, particularly benefiting smallholder farmers by connecting them with larger agricultural networks.
- Access to sustainability-linked finance: Both commercial and smallholder farmers can leverage the platform to streamline their access to green finance. By providing ESG metrics and risk reports, AgriEco Hub makes it easier for financial institutions to allocate funds to sustainable farming practices.
By offering real-time tracking of water availability and usage, the platform enables farmers to manage resources more effectively and mitigate the pressures on water supplies. Additionally, its integration of weather forecasting and environmental data helps farmers plan better and enhance their resilience to unpredictable climate conditions. For smallholder farmers, AgriEco Hub provides essential tools and improved market access, enabling them to scale their operations and overcome infrastructure limitations.
Technology backbone
The platform uses advanced technology, integrating geospatial mapping, real-time environmental data and weather forecasting to optimise sustainable farming. Its GIS mapping offers precise location insights, while 10-day forecasts aid resource planning. In addition, it taps into detailed databases like AfriGIS Property & Deeds and Landcover data to provide critical information for vegetation management, helping farmers make informed decisions.
Announcing the team’s win, Richard Peers, founder of ResponsibleRisk, said: “We were impressed with how much was done within 10 days. I couldn't believe the amount of content that the team put together, both in terms of the use cases, user journeys, business canvas and logical architecture for the technology. We were really impressed with the capabilities of the offering itself, and the way it was communicated.”
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AfriGIS
AfriGIS is the leading Geospatial Information Science company in Southern Africa that specialises in location-sensitive data and solutions. It provides customers across the board with a suite of web-based tools and APIs to connect to, enhance, and enrich their own data with location intelligence, insights, and trusted data. The organisation was founded in 1997 and celebrates more than 25 years in business. It is a level 1-certified broad-based black economic empowerment (B-BBEE) business, with more than 100 employees, in Pretoria, Durban and Cape Town in South Africa, Dublin in Ireland, and Dhaka in Bangladesh.