In a move aimed at connecting small-scale farmers, buyers, and market intermediaries such as agents and banks in East Africa. MasterCard has launched an online marketplace where the said agribusiness stakeholders can connect with each other, like in a big digital agricultural produce.
Except, unlike, a brick and mortar market, one that comes with inconveniences such as having to travel, and limited hours of operations. MasterCard’s online marketplace runs straight from the stakeholders’ pockets, right on their smartphone.
The online marketplace called 2KUZE, a Swahili word for ‘Let’s grow together,’ is designed to enable farmers sell their produce and get payment electronically via the platform. Other stakeholders such as agents (brokers) and banks too can conduct their businesses via the platform, online and conveniently. A move aimed at digitizing the commerce around agriculture in East Africa. The platform aims to expand across Kenya, Uganda, and Tanzania.
“By using mobile, a technology that is so ubiquitous among farmers in Africa, we can improve financial access, bring in operational efficiency and facilitate faster payments,” said Daniel Monehin, the Division President for sub-Saharan Africa and head of Financial inclusion for International …read more