Uniting financing and technology to best serve Africa's farmers and consumers

THE marriage of finance and technology can be a powerful tool for development.

- ALIOU MAIGA

But like all successful marriages, finding the right partner is essential.

Mobile telephone banking is an excellent example of how communications technology and financial services have been united to broaden the reach of payments, loans, savings, transfers, and even insurance, especially to those without access to formal bank accounts.

The question is, can technology transform other sectors in Africa the way fintech has so positively transformed financial inclusion?

In agriculture, the answer is yes—but much more can be done.

Africa's agriculture sector—by many measures Africa's most important economic sector—is a prime candidate for a 21st century renewal.

Agriculture contributes at least 17 percent of sub-Saharan Africa's GDP and more than half of total employment, supporting millions of smallholder farmers across the continent.

Despite its importance, however, Africa's agriculture sector is not yet meeting the needs of the continent's rapidly growing population and is increasingly vulnerable to the effects of climate change and shifting weather patterns.

The result?