Majority of African countries are debit based economy unlike western countries where people can access credits easily on essential commodities and services during emergencies or when they are cash strapped, despite the fact that these essential commodities and services are centrality to human survival i.e. (foods , drugs , cooking gas, water, transports, etc.). The banks and other financial institutions are looking other way while ignoring this over $500 billion annual revenue driven sector of the continent due to unaddressed militating financial and identity data gap of the citizens and other related infrastructure deficits in the region.
In Nigeria thousands of pensioners died every year untimely simply because they could not afford to buy their drugs or foods on time before their pensions are paid by their employer(Governments and private organizations) and sometimes it takes months for the pensions to be paid.Salary earners and non-salary earners(artisans, traders, farmers, students etc) are not left out in these dilemma as many of them go to bed without food during emergencies and that is one of the reasons hunger, corruption and illegal transborder migration is rampant in Africa.
We at GreenCommodix has come with our accessible solution and services to render consumers financing services to the Africans irrespective of their status by using AI-driven credit risk assessments and scoring analytics based on their food consumption pattern and related data ( for non salary earners e.g farmers, Artisans, traders, students, entrepreneurs etc.) and income data and related statistics for the salary earners ( civil servants, pensioners etc).
GreenCommodix is an inclusive commodity bank and market place that buy foods directly from the producers and sell directly to the consumers through Online and Offline channels. We bypass the inefficient traditional food supply chain system majorly practised in Africa region which comprises of a very large number of middlemen (marketer , aggregator, distributor , wholesaler and retailer) that exploits farmers' gain for market accessibility and triggers artificial inflations while making foods out of the reach of the common man on the street in the area of consumptions. (foods are ridiculously cheap in the area of production and outrageously expensive in the area of consumptions). Therefore we promote accessibility, affordability and proximity delivery of foods to the consumers while using their food consumption data and pattern to do credit risk assessment to render credit services to them during emergencies in partnership with other essential commodities and services provider.
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