The MyFarmbook app enables investors to buy shares in a cow from their mobile phone for as little as R576.
Livestock contributes around 51% to South Africa’s agricultural economy and is often seen as a measure of wealth across Africa.
A pioneering app in South Africa lets investors, eager to benefit from rising global beef demand, buy shares in a cow from their mobile phone for as little as R576 ($40).
The application is “MY Farmbook”, provided by South African crowdfunding startup “Livestock Wealth”.
The company connects investors with farmers that require funding by using cattle as a form of investment.
For example options include the purchase of grass fed beef cattle; a pregnant cow, a calf or the shared purchase of a calf.
The company is headquartered in Johannesburg and has a number of farms in their portfolio based in Free State and KwaZulu Natal.
Investors can access the investment platform through a mobile app utilizing 5G and AI technology developed in conjunction with Chinese mobile phone company Huawei.
Livestock Wealth was founded in 2015 by Ntuthuko Shezi who is still the CEO.
In 2017 Livestock Wealth won the South African Breweries Foundation Social Innovation award cabled by R1.3 million.
Launched in 2015 with 26 cows, the project now includes more than 2,000 cows and has taken in 50 million Rand, with 10 percent of investors coming from outside South Africa.