Mastercard launched 2KUZE, a digital platform that connects smallholder farmers, agents, buyers and banks in East Africa. 2KUZE, which in Swahili means “Let’s grow together,” enables farmers to buy, sell and receive payments for agricultural goods via their feature phones. The platform brings the benefits and security of mobile commerce and payments to farmers in Kenya, Uganda and Tanzania.
In the initial pilot, 2KUZE is being launched in partnership with Cafédirect Producers Foundation, a non-profit organization working with 300,000 smallholder farmers globally. Currently, 2,000 small-scale farmers in Nandi Hills, Kenya are using the solution to sell their produce and working with farmer-friendly agents to ensure they reach the right buyers for the best price.
“Eighty percent of farmers in Africa are classified as smallholder farmers having less than 1-2 acres of farming land, making it extremely difficult to drive growth and prosperity within this community, ” said Daniel Monehin, division president for Sub-Saharan Africa and head of financial inclusion for International Markets at Mastercard.
“We believe that 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. The collaboration between the Lab team and farmers in the market helped to deliver a solution that can be implemented and make an impact without any major changes to the day-to-day.”
„2KUZE makes transacting much safer and simpler for all stakeholders in the agricultural supply chain – the farmer, the buyer and the agent. Farmers using 2KUZE can conduct the entire transaction of selling produce and receiving payments via their feature phones, without having to walk for hours to the markets. The platform enables farmers to capture a greater percentage of the wholesale value of their goods by providing price transparency, more direct access to buyers and empowerment of farmer-friendly agents.”, according to the press release.
Watch the video below to see how it works:
„Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”