A review of its strategy and corporate branding in Africa is also underway to assess how the use of blockchain will change its supply chain and eVoucher scheme.
READ: African Potash raises £60,000 after completing a private placing of 100mln new shares at 0.06p each
The money will be raised in two tranches: £68,000 today and £332,000 on December 13 after shareholder approval.
Chris Cleverly, executive chairman, said: "The company has a short term working capital requirement and is looking to expand its African fertiliser trading capacity.
“This it intends to do through the deployment of a blockchain-based funding and financing solution.
“This will provide a secure payment mechanism (an eVoucher) for farmers borrowing to purchase fertiliser from the company.
“It will also ensure the reimbursement of the company and our funding partners."