Pakistan’s agritech landscape is undergoing a significant transformation. Last week, Farmdar, a leading precision agriculture platform, announced a strategic partnership with Bank Alfalah (BAFL). This collaboration aims to revolutionize agricultural financing and empower farmers through innovative digital solutions.
In an exclusive interview with ProPakistani, Farmdar co-founders Muzaffar Manghi and Muhammad Bukhari discussed the partnership and the future of agritech in Pakistan.
Manghi highlighted the current challenges in agricultural financing, including inaccurate data and complex processes. Farmdar’s collaboration with BAFL aims to address this by providing pre-digitized farmer data and real-time monitoring capabilities. Sharing historical data, crop performance insights, and risk assessments allows BAFL to make informed lending decisions and proactively engage farmers.
This partnership aligns with the growing trend of digital transformation in Pakistan’s agricultural sector. The government’s push for investment and similar industry announcements underscore this shift. Farmdar has already registered over 100,000 farmers and targets 250,000 by year-end, reflecting strong adoption momentum.
Farmdar offers a suite of solutions, including the satellite-based CropScan platform and AgriChain for farm monitoring and climate impact analysis. These tools provide features like yield and biomass estimation, enabling data-driven farming practices for increased efficiency and productivity.
Bukhari emphasized the importance of a B2B2C approach, focusing on collaboration with agribusinesses and stakeholders. This strategy proves more effective in scaling adoption and delivering value across the agricultural supply chain.
Manghi hinted at future partnerships with key industry players and expansion into sectors like fertilizers and sugar mills. The recent PAC Agri-Connections 2024 conference showcased increased collaboration within the agritech ecosystem, signifying a positive trajectory.
Despite global funding slowdowns in agritech, Farmdar remains optimistic about Pakistan’s potential as a hub for innovation. With a focus on their domestic market and a proven track record, Farmdar is poised to drive positive change and technological advancements that benefit both farmers and stakeholders.