(MENAFN- Media OutReach Newswire) JAKARTA, INDONESIA - Media OutReach - 1 December 2023 - In the spirit of unity, growth and innovation, INDUK KUD and SCash Global launched a : a nationwide digital initiative designed to empower Indonesian farmers and fishermen. The partnership, which melds local expertise with advanced technology, aims to provide direct market access and digital solutions to agricultural and marine products for 13 million members and their families.
In conjunction with the Annual General Meeting (AGM) of Induk KUD on 04 Nov 2023, nearly 800 participants, including representatives from 9,437 KUD divisions across 29 provinces, business leaders, and government officials, Mr. Wu Jui Lang, Secretary-General of the Overseas Representative Office, highlighted the project's origin in addressing the real-world needs of its members. Wu pointed out challenges faced by farmers and fishermen, including limited access to loans, market uncertainties, and inadequate farming infrastructure. As Induk KUD's strategic technology partner, SCash Global's expert digital platform provides a comprehensive suite of practical applications to address these challenges. Notably, a successful pilot project in Malang has resulted in the direct export of 18 containers of cabbages to Taiwan since July 15, 2023, bypassing intermediaries.
In a visionary address, Mr. Michael Lee, CEO of SCash Global, unveiled the project's phases, placing a distinct emphasis on micro-finance and revolutionary Super App platforms. "Technology unites and empowers.", Lee, a firm believer in the unifying power of technology shared, emphasising immediate benefits, including streamlined access to loans and a vibrant e-marketplace. Beyond short-term gains, he underscored SCash's steadfast commitment to building an ecosystem for a sustainable impact on the lives of its 13 million members, shaping a brighter future. In a significant move, Lee announced tthe empowerment of members with advanced digital capabilities, marking a bold stride forward and reaffirming SCash's dedication to harnessing technology for both meaningful and sustainable change, setting a new industry standard.
Mr. Herman YL Wutun, Chairman of Induk KUD, summarised the event's outcomes. He celebrated the previous Memorandum of Agreement with SCash Global and detailed the expansion plans, highlighting fresh funding of up to 1.5 million USD. "Our objective is clear," Wutun stated, "to increase the prosperity of our members and expand our project to all Indonesia, fostering business linkages and enhancing the wellbeing of our communities."
The ambitious project has already completed the pilot proof-of-concept phase and is entering into the next phase. Set to receive funding by the first quarter of 2024, UFarm is moving ahead into new territories of providing micro-financing to members by tapping on investors globally. This is testament to the collaborative spirit and commitment to improving the lives of Indonesian farmers and fishermen.
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SCash Global UFarm: United We Grow through Digitalization
Induk KUD empowers over 13 million members across 31 provincial cooperatives, and SCash Global, a favoured Integrated Solutions Vendor by giants Alibaba Cloud and Alipay has come together with a shared vision. Their joint endeavour seeks to catalyse Indonesia's agricultural industry and fisheries through meaningful innovation, sustained profitability and transformative efforts.
With the successful onboarding of over 100 members on their all-encompassing UFarm platform, this innovative platform is poised to integrate a Farmer Assistant System, groundbreaking Agriculture trading mechanisms, and the much-anticipated INDUK KUD Digital Wallet.
The future this alliance promises:
Empowerment: Through a state-of-the-art micro-financing capability, farmers gain access to funds more easily to support their farming and daily needs.
Digital Integration: The introduction of a digital wallet for seamless transactions promises convenience like never before.
A Flourishing Digital Marketplace: A central hub for buying and selling products, coupled with enhanced inventory and product management systems, promises to revolutionise trade practices.
Projected Growth: Anticipate 1 Million Induk KUD members onboarded by year's end. By June 2024, the alliance aims for member benefits to reach a staggering IDR50Tn, with merchant transactions soaring up to IDR 900Bn. Fast forward to the end of 2025, and the projections are even more impressive, with member benefits anticipated at IDR600Tn and merchant benefits reaching an astounding IDR 11.
In a world where technology and tradition often find themselves at crossroads, this innovative app and invigorating partnership between Induk KUD and SCash Global is a testament to the power of more future-ready regional collaborations.
This is a project that seeks to empower and engage millions across Indonesia and be part of a journey that innovates towards a sustainable and transformative new way of farming and fishing across the nation. A brighter, more connected future awaits; the UFarm alliance is just the beginning.
For further information or inquiries, please contact Mr Eric Chew at [email protected] (email) / +65 9673 9978 (WhatsApp).
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