ANI Pushes for Digitalization of Agriculture Sector in Recent Memorandum Signing

AgriNurture Inc. (ANI) hopes to introduce financial technology to agricultural workers and the agricultural sector, in general. It had recently signed a memorandum of understanding (MOU) with the Department of Agriculture (DA) and the Authority of Freeport Area of Bataan (AFAB), the firm announced on Friday.

ANI advocates for an Agri-Sector Digitalization Program to be achieved “through a regulated financial technology platform and licensed virtual currency.” The firm’s e-commerce platform 1ANI will provide farmers and fisherfolk with better access to loans and capital needs.

The MOU further details that an affiliate bank will serve as the custodian bank for the Agri Token, ANI’s virtual currency. A branch of the affiliate bank will also be set up within the FAB for the banking needs of those within the freeport area.

A food terminal, cold and dry storage facilities, and a logistics hub will also be developed and established as part of the MOU. These projects will be under ANI alongside its partner-local government units in the FAB, with the support of the DA.

ANI continues to drive its efforts of improving financial access for agricultural workers in rural areas after it acquired 51% of Pay8 Inc., a fintech firm, in July 2020.

Source: Inquirer