New “crowdfarming” platform lets you save for lobola, manage your cows

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The practices of starting a cattle farm or saving to garner enough cows for lobola negotiations has entered the digital space with a new startup launched recently that lets South Africans invest in their own livestock via an app and website.

Ntuthuko Shezi, a former strategy consultant at Accenture, created the Livestock Wealth crowdfarming platform at The Innovation Hub‘s Maxum business incubator in Pretoria, and officially launched it on Tuesday.

Through crowdfarming (which, may we say, is a fantastic new term), Livestock Wealth aims to make investing in cattle easier for those who don’t have to access to either land or time and don’t know the ins and outs around the practice.

You can invest on your own or do so as a group with friends, family or business partners.

The startup operates together with the Department of Rural Development and Land Reform, which is assisting it in leasing more farm land and Sizwe Ntsaluba Gobodo to audit all business practices and the cattle investment management system.

On Livestock Wealth, you’ll see profiles of each available cow, with photos and details including breed, colour and whether it’s pregnant or not. Each cow currently featured on Livestock Wealth costs R10 495.

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The startup’s farm is located in Blood River in the Zululand district of KwaZulu-Natal.

Once you’ve seen the cow you like, you can select how many you want, check out, register your Visa, PayPal or MasterCard details and process the payments.

From then on Livestock Wealth will manage your cattle for you for a fee of R295 a month. Whether you want to sell your cattle off or collect it at some point, is up to you.

You can keep up to date with how your cattle are doing via the app, which provides photos, health check up details and notifications about newly-born calves. Visits to see the cattle can be arranged at any time.

Sound like something you’d be interested in? Download the Livestock Wealth app from the Google Play Store.

“Livestock Wealth is an innovative concept of creating a culture of savings and wealth building by Africans using livestock as an asset class, thereby connecting investment as we understand it today to the way investment was done by our forefathers,” McLean Sibanda, CEO of The Innovation Hub said in a statement.

[Source – The Innovation Hub, image – Facebook]



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