Tanzania Breweries Limited (TBL) and Vodacom (T) yesterday launched an electronic payment system geared towards fast-tracking of payments for outgrowers in TBL’s supply chain.
According to Nape Nnauye, the minister for Information, Communication and Technology, the BanQu software app unveiled in Dar es Salaam yesterday packages a blockchain platform set to empower farmers financially.
BanQu is provided by a software service company as a blockchain-powered supply chain and records management platform initially hired by TBL operator AB InBev of South Africa, with Vodacom coming in as a mobile money service provider for the new arrangement.
The purchasing platform on BanQu is connected to M-Pesa and payments can be directly deposited, he said, underlining that the government supports innovations and promotes the use of science and technology for rapid economic growth.
“We are committed to enhancing the skills of innovators and welcome innovation and technological trends that provide solutions and empower Tanzanians economically,” Nnauye said.
He said: “BanQu has come at the right time as President Samia Suluhu Hassan has recently launched the
‘Ajenda 10/30’ campaign which aims to promote the growth of agri-business in the country by 2030.This initiative shows that TBL is in line with our development agenda, and through empowering farmers who provide raw materials, we will ultimately align with our industrialization agenda.”
He added that the sixth phase government is committed to nurturing and identifying innovative programmes and encourage the use of science and development of technology for economic development that ultimately contribute to the country’s economic growth, asserted the minister.
“Technology has provided innovative solutions in various sectors such as agriculture, health, education and commerce, thus becoming a source of employment for youth, and an enabler of the sectors of economy. The platform will benefit thousands of farmers who provide raw materials like sorghum, grapes and barley to TBL, guaranteeing transparency of transactions between the brewer and farmers and creating greater opportunity for financial inclusion for farmers,” he added.
He added that the initiative by TBL to empower farmers will contribute to improve farmers’ income and entice othersto start engaging in agro-business more intensely.
TBL Country Director Jose Moran said the platform has been created to protect farmers, extend opportunities for financial inclusion through partners, enhance transparency and ultimately drive inclusive economic growth.
He said TBL sources 74 per cent of its raw materials locally and seeks to ensure that 100 per cent of farmers supplying the raw materials are skilled, connected and financially empowered by 2025.
“Through BanQu, we are now able to ensure that our farmers constantly have access to solutions and insights that will help them make informed decisions. TBL’s integration with the first blockchain technology in the agricultural sector is testament to our commitment and initiatives towards enhancing smart agricultural practices,” he declared.
On his part the Vodacom Tanzania Managing Director Sitholizwe Mdlalose said that since its launch in 2008, the M-Pesa franchise has significantly contributed toward financial inclusion facilitated digital payments countrywide.
“M-Pesa’s main objective is to facilitate digital payments and connect the otherwise unbanked to the formal financial system. We are happy to partner with BanQu to ensure these farmers are connected and can make use of our M-Pesa platforms to receive payments, save, transfer and access micro-credit to increase productivity,” he said
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