Fefifo, an Agtech startup originating from Singapore and with operations in Malaysia, has teamed up with Payments Network Malaysia (PayNet), a Malaysian payment transaction company, to launch the Farmer Digitalization Program. This strategic partnership aims to empower B40 farmers, primarily from lower-income rural communities in Malaysia, to embrace digital technologies and entrepreneurship in agriculture.
The Farmer Digitalization Program is tailored to digitize smallholder farmers by providing them with a range of solutions, including on-demand digital farming Standard Operating Procedures (SOPs), expert guidance, access to more affordable agricultural inputs, guaranteed market access, and financial assistance. PayNet contributes by offering incentives, training sessions, and sponsorships to encourage farmers to transition to cashless payments, while also aiding in reducing operational expenses for Fefifo’s cashless distribution centers. This initiative is geared towards fostering sustainable livelihoods by enabling consistent production of high-quality crops for a readily available market.
By leveraging Fefifo’s expertise and PayNet’s financial support, the collaboration bolsters national food security efforts, boosts local food production, and diminishes dependence on imported goods, aligning closely with the objectives outlined in the Malaysian National Agrofood Policy 2021-2030. PayNet’s sponsorship enables up to 100 lower income farmers to participate in the program, with plans to establish distribution centers nationwide for seamless product delivery and digital payment processing. Moreover, the program extends its reach to university graduates from lower income communities venturing into social enterprises, signaling a broader impact beyond the agricultural sector. PayNet underscores the transformative potential of the initiative in modernizing agriculture and nurturing sustainable, cashless-driven communities, with aspirations to expand its reach to additional regions across Malaysia.
(Sources: Fefifo; Digital News Asia)
