Mastercard launches agtech app in East Africa to aid farmers
The agricultural technology app was announced this week. 2KUZE, which means “let’s grow together” in Swahili, was developed at Mastercard’s Nairobi Labs for Financial Inclusion with the support of the Gates Foundation.
In the initial trial phase, it is being used by 2000 farmers in Kenya’s Nanda Hills, and will soon be available in Uganda and Tanzania. The app works on feature phones, smartphones, and PCs.
2KUZE’s primary value proposition is connecting farmers, agents, and buyers on a digital platform toward greater pricing transparency and more effective distribution.
“There’s been a lack of efficiency in information and the payment process that hasn’t put the farmer in a position to get the best value for their produce,” he said. Enabling farmers to negotiate quantities, pricing, payment, and distribution directly with agents and buyers on a central platform “will empower the farmers,” according to Monehin.
Conveniently for Mastercard, the 2KUZE pilot is launching in Kenya, one of the continent’s more tech savvy countries. As for 2KUZE’s revenue model, there are no charges for users in the pilot phase. However, Mastercard Africa is exploring models for buyer and financial institution transaction and referral fees toward “a commercial product generating a profit,” said a company spokesperson.
source: techcrunch.com
