{"id":5429,"date":"2024-07-12T13:00:49","date_gmt":"2024-07-12T04:00:49","guid":{"rendered":"https:\/\/wp.standage.co.jp\/?p=5429"},"modified":"2026-02-06T12:28:27","modified_gmt":"2026-02-06T03:28:27","slug":"meti-grant-microfinance-nigeria_20240712","status":"publish","type":"post","link":"https:\/\/wp.standage.co.jp\/us\/2024\/07\/12\/meti-grant-microfinance-nigeria_20240712\/","title":{"rendered":"Standage and Spaceshift selected for FY2023 supplementary budget "Global South Future-oriented Co-creation Project Subsidy (Survey to Promote Overseas Infrastructure Expansion by Japanese Companies)""},"content":{"rendered":"

Demonstration Project Begins for Providing Microfinance Services in Nigeria<\/strong><\/p>\n

 <\/p>\n

STANDAGE Co., Ltd. (Minato-ku, Tokyo, CEO: Akinori Adachi, hereinafter referred to as Standage), which develops and provides digital trade platforms, together with Spaceshift Co., Ltd. (Chiyoda-ku, Tokyo, CEO: Shigeo Kanemoto, hereinafter referred to as Spaceshift), have been selected for the FY2023 supplementary budget "Global South Future-oriented Co-creation Project Subsidy (Survey to Promote Overseas Infrastructure Expansion by Japanese Companies)". The two companies will jointly promote the "Nigeria \/ Demonstration Project for Microfinance Services for Farmers Using Agricultural Land Satellite Information".<\/p>\n

 <\/p>\n

Background<\/strong>
\nIn Nigeria, where cassava and yams are the staple foods and sesame and cocoa beans are exported to other countries, it is said that roughly half of the population works in the agriculture, forestry and fisheries industries.
\nHowever, for financial reasons, small-scale farmers in Nigeria find it difficult to purchase agricultural machinery and equipment, and they also lack credit, meaning they cannot obtain bank loans.
\nAs a result, they are forced to continue inefficient manual farming, and are caught in a vicious cycle that keeps them in poverty.<\/p>\n

To address this issue, Spaceshift and Standage have been working together since 2021 to create a service that enables low-income farmers to access financial services such as microfinance and savings, thereby contributing to promoting efficient agricultural work and alleviating poverty.<\/p>\n

 <\/p>\n

\u25a0 Demonstration Overview<\/strong>
\nIn Nigeria, we will conduct a demonstration project to provide microfinance services to small-scale farmers through farm credit management using agricultural satellite information.
\nThe number of agricultural machines handled will be increased to about 10 times that of previous demonstrations, and the usefulness of the system will be confirmed through larger-scale demonstrations.<\/p>\n

In addition, while we anticipate providing loans through cash in the future, this time we will help increase yields by providing or renting high-quality agricultural machinery at the time of production, aiming to achieve a cycle of increased yields -- reliable credit -- loans.<\/p>\n

 <\/p>\n

\u25a0 Roles of both companies<\/strong><\/p>\n

Space Shift:<\/strong>Analysis of images obtained from optical satellites and synthetic aperture radar (SAR) satellites using AI technology, and data collection of crop growth conditions<\/p>\n

Standage:<\/strong>Manage and supervise the entire supply chain, including procurement, storage, sharing and after-sales maintenance of agricultural machinery and inputs provided to Nigerian farmers.<\/p>\n

 <\/p>\n

\u25a0 Reference Information<\/strong>
\nFY2023 Supplementary Budget "Subsidy for Global South Future-oriented Co-creation Projects (Survey on Promoting Overseas Infrastructure Expansion by Japanese Companies)"
\nURL: https:\/\/gs-hojo-web.jp\/<\/a><\/p>\n

Selection results for indirectly subsidized businesses under the FY2023 supplementary budget "Subsidies for Global South Future-oriented Co-creation Projects (Survey on promoting overseas infrastructure deployment by Japanese companies)"
\nURL: https:\/\/www.meti.go.jp\/information\/publicoffer\/saitaku\/2024\/s240628005.html<\/a><\/p>\n

 <\/p>\n

\u25a0About Space Shift<\/strong>
\nFounded in December 2009. With the theme of "Sense the Unseen from Orbit," the company is developing software that uses AI to analyze data obtained from Earth observation satellites to extract a wealth of information with recognition capabilities that exceed those of humans. The company aims to realize a sustainable society by utilizing satellite data in a variety of fields, including infrastructure management, disaster prevention and mitigation, agricultural monitoring, and environmental conservation.
\nCompany name: Space Shift, Inc.
\nRepresentative: CEO Naruo Kanemoto
\nHead office location: Otemachi Building 6F, 1-6-1 Otemachi, Chiyoda-ku, Tokyo
\nEstablished: December 11, 2009
\nCapital: 638 million yen (including capital reserve)
\nURL:https:\/\/www.spcsft.com\/<\/a><\/p>\n

 <\/p>\n

\u25a0About Standage<\/strong>
\nFounded in March 2017. With a vision of "creating a world where all countries have equal access to all goods," the company is developing a new trade settlement system that utilizes blockchain and stable coins. Its main market is emerging countries, including Africa, and it has established bases in four African countries, including Nigeria, and is engaged in trade with Africa. In addition to trade settlement, the company develops and provides systems that realize digital transformation for market development, ordering, and international logistics, and also works to support exports by small and medium-sized enterprises.
\n\u25c7"DigiTrad" service official website:https:\/\/standage.co.jp\/digitrad<\/a>
\nEstablished: March 2017
\nRepresentative: President and CEO Akinori Adachi
\nCapital: 608,568,500 yen (including capital reserve of 302,782,500 yen)
\nURLhttps:\/\/standage.co.jp\/<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Demonstration project launched to provide microfinance services in Nigeria STANDAGE Inc. (Minato-ku, Tokyo, CEO: Akinori Adachi, hereinafter referred to as Standage), a developer and provider of digital trade platforms, has launched a demonstration project to provide microfinance services in Nigeria. Continue reading Standage and Spaceshift selected for FY2023 supplementary budget "Global South Future-oriented Co-creation Project Subsidy (Survey to Promote Overseas Infrastructure Expansion by Japanese Companies)"<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":5431,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[46],"tags":[],"acf":{"en_news":{"custom_css":"","en_title":"Standage and Space Shift selected for the FY2023 supplemental \u201cGlobal South Future-oriented Co-creation Project Subsidy","content":"Launching a Demonstration to Provide Microfinance Services in Nigeria<\/strong>\r\n\r\n \r\n\r\nSTANDAGE Corporation, a developer and provider of digital trade platforms, has been selected, together with Space Shift Corporation, for the \u201cGlobal South Future-oriented Co-creation Project Subsidy (Research to Promote Overseas Development of Infrastructure by Japanese Companies),\u201d a fiscal 2023 supplemental grant. The two companies will jointly promote the \u201cDemonstration Project for Microfinance Services for Farmers in Nigeria Using Satellite Information on Agricultural Land.\r\n\r\n \r\n\r\n\u25a0Background<\/strong>\r\nIn Nigeria, where cassava and yams are staple foods and sesame and cacao beans are exported to other countries, about half of the population is said to be engaged in agriculture, forestry, and fisheries.\r\nHowever, for economic reasons, it is difficult for small-scale farmers in Nigeria to purchase agricultural machinery, and they are unable to obtain bank loans due to lack of credit.\r\nAs a result, they are forced to continue farming inefficiently by hand, and are stuck in a vicious cycle of poverty.\r\n\r\nTo solve this problem, SpaceShift and Standage have been working together since 2021 to establish a service that will enable low-income farmers to access financial services such as microfinance (small loans) and savings, thereby promoting efficient agricultural work and contributing to poverty alleviation.\r\n\r\n \r\n\r\n\u25a0Outline of the Demonstration<\/strong>\r\nIn Nigeria, we will conduct a demonstration project to provide microfinance services to small-scale farmers by managing farmers' credit using farmland satellite information.\r\nThe number of farm machines to be handled will be increased by about 10 times compared to past demonstrations, and the usefulness of the service will be verified through a larger scale demonstration.\r\n\r\nIn the future, we will provide cash-based loans to farmers and support them to increase their yields by providing or renting high-quality agricultural machinery at the time of production, aiming to realize a cycle of increased yields, reliable credit, and loans.\r\n\r\n \r\n\r\n\u25a0Roles of both companies<\/strong>\r\n\r\nSpace Shift: Analysis of images obtained from optical and synthetic aperture radar (SAR) satellites using AI technology and data on crop growth conditions\r\n\r\nStandage: Management and jurisdiction over the entire supply chain, including procurement, storage, sharing, and after-sales maintenance of agricultural machinery and materials provided to Nigerian farmers\r\n\r\n \r\n\r\n\u25a0Reference Information<\/strong>\r\nSubsidy for Global South Future-oriented Co-creation Project (Survey on Promotion of Overseas Development of Infrastructure by Japanese Companies)\u201d, FY2023 supplemental funding\r\nURL: https:\/\/gs-hojo-web.jp\/\r\n\r\nResult of the Adoption of Subsidies for the FY2023 Amendment \u201cSubsidy for Future-Oriented Co-Creation Projects in the Global South (Survey on Overseas Deployment of Infrastructure by Japanese Companies)\r\nURL: https:\/\/www.meti.go.jp\/information\/publicoffer\/saitaku\/2024\/s240628005.html\r\n\r\n \r\n\r\n\u25a0About Space Shift<\/strong>\r\nEstablished in December 2009. Under the theme of \u201cSense the Unseen from Orbit,\u201d SpaceSift develops software that uses AI to analyze data obtained from Earth observation satellites to extract a great deal of information with cognitive abilities that surpass humans. The company aims to realize a sustainable society by utilizing satellite data in various fields such as infrastructure management, disaster prevention and mitigation, agricultural monitoring, and environmental conservation.\r\n\r\nCompany name: Space Shift, Inc.\r\n\r\nRepresentative: Naruo Kanamoto, CEO and Representative Director\r\n\r\nHead Office: Otemachi Building 6F, 1-6-1 Otemachi, Chiyoda-ku, Tokyo\r\n\r\nEstablished: December 11, 2009\r\n\r\nCapital: 638 million yen (including capital reserve)\r\n\r\nURL: https:\/\/www.spcsft.com\/\r\n\r\n \r\n\r\n\u25a0<\/strong>About Standage<\/b>\r\nEstablished in March 2017, with a Nigeria office in December of the same year and local offices in Kenya, South Africa, and Egypt in 2021. Offers Digitrad, a comprehensive digital trade service that completes all trade operations, from matching trade sellers and buyers to settlement, financing, and cargo delivery. Developed a secure, inexpensive, and speedy payment system utilizing blockchain and crypto assets for settlements in emerging countries. By leveraging the functions of a trading company and technology, we aim to develop a society that seamlessly connects small- and medium-sized Japanese companies with the entire world.\r\n\r\n\u25c7Official website of \"Digitrad\" service: https:\/\/standage.co.jp\/digitrad<\/a>\r\n\r\nEstablished March 2017\r\n\r\nRepresentative Akinori Adachi, President and Representative Director\r\n\r\nCapital: 68,568,500 yen (including 327,850,250 yen in capital reserve)\r\n\r\nURL https:\/\/standage.co.jp\/<\/a>"},"author":{"author_image":"","author_name":"","author_image_link":"","introduction":""},"production_published":true},"_links":{"self":[{"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/posts\/5429"}],"collection":[{"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/comments?post=5429"}],"version-history":[{"count":2,"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/posts\/5429\/revisions"}],"predecessor-version":[{"id":5445,"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/posts\/5429\/revisions\/5445"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/media\/5431"}],"wp:attachment":[{"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/media?parent=5429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/categories?post=5429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/tags?post=5429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}