Photo - Stanfield Commodities Exchange Limited
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Stanfield Commodities Exchange Limited

Uganda
Market: Internet and IT, Food industry, Trade
Stage of the project: Operating business

Date of last change: 22.03.2022
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Idea

Stanfield Commodities Exchange Ltd is E-Marketplace for online sale of food items to consumers.

Current Status

Over 300 farmers were trained on agribusiness management and financial literacy.
Over 1,000 tonnes of food were ordered through our e-commerce platform.
Registered the company with registrar of companies,Uganda.
Secured business partnership with Excel Agro Value Chain Nigeria Ltd(www.excelagrovc.com).
Formed a team comprising of 7 staffs.
Acquired paying clients.

Problem or Opportunity

According to Food and Agriculture Organization of United Nations (FAO), about 33% of food produced in globally goes to waste in agriculture value chain. This problem is cause by inadequate commercialization of new technologies, lack of basic infrastructure, insufficient promotion of processed food, inadequate knowledge and skills in food production as well as agribusiness management. If this problem is not dealt with effectively, it will lead to low food production and food insecurity.

Solution (product or service)

Stanfield Commodities Exchange Ltd is E-Marketplace for online sale of food items to consumers. The e-commerce platform helps solve the problem of food insecurity by making food not only more available, but also more affordable to help reduce food insecurity. The e-commerce platform also ensures convenient purchase of food by clients by allowing them to buy food items when and where it suits them, via a payment method that suits them.
We work sell food from different groceries ,restaurants and hotels on our E-marketplace.

Business model

We earn money from charging vendors who subscribe to our e-commerce platform in a form of subscription fees. Our subscription fees is currently set $5 per month.
Besides that, the startup also earn from sales commission when agricultural commodities are sold on our e-commerce platform and offline through customer referrals. We charge sales commission of 10% on profits realized from every agricultural commodities of farmers or food producers under our cooperative society.
We also earn from sales commission from restaurants,hotels and food groceries.

Incubation/Acceleration programs accomplishment

U.S Mass Challenge Early stage startup Accelerator Houston Program,2021.
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