">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Monday, January 25, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Tech

Mastercard launches a Twiga Foods-like platform to increase financial access among farmers

Milcah Lukhanyu by Milcah Lukhanyu
2 years ago
in Tech
7 min read
0

In a move to expand the reach of its Mastercard Farmers Network (MFN), Mastercard has partnered with the International Center for Tropical Agriculture (CIAT) and the United States African Development Foundation (USADF), to expand the MFN marketplace to more farmers, buyers and the agents in Uganda.

MFN connects small-scale farmers with potential buyers, integrates their businesses with payment systems, and enables them to build a digital transaction record that can be used to access formal credit from banks and other financial institutions. 

The platform aims to ease access to markets by small holder farmers and give them financial tools to grow their businesses and improve their livelihoods.

MFN was developed by the Mastercard Lab for Financial Inclusion, one of nine Labs, which serves Mastercard’s Strategic Growth efforts by developing ground-breaking solutions that will impact  millions of people through helping them manage risk better, financially plan for the future and lead empowered lives.

The announcement was made at the MFN Partner Summit and its expected to positively impact smallholder farmers and empower the agriculture value chain in Uganda and across the continent through technology.

The MFN platform has already gone live in Uganda, Tanzania and India, with more than 250,000 farmers on the platform currently. 

In a statement, Raghav Prasad, Division President Sub-Saharan Africa, Mastercard, said; “Our partnership with CIAT and with USADF will significantly increase our reach to smallholder farmers and the rest of the agricultural ecosystem, allowing more people enjoy the benefits of a digital economy and empowering them to grow their businesses.”

READ  Masterpass QR now live in 7 markets in Middle East and Africa

Related posts

Toshiba

Chrome Now Helps You Change Weak Passwords

January 23, 2021
0

Top 5 Skills That Modern Software Developers Need to Have

January 22, 2021
0

What Software Developers Need to Know About Burnout

January 22, 2021
0

Which is Better, Leasing or Purchasing Farm Equipment?

January 22, 2021
0

Mastercard is using the Uganda roll out as it’s test market to more farmers in Africa and globally.

CIAT is working with Mastercard to scale up the MFN platform to support farmers in the bean value chain. CIAT aims to grow their impact from over 200,000 farmers in East Africa, to over one million farmers in their different African countries of operations by 2020.

 Dr Debisi Araba, Regional Director for Africa, CIAT said,“We are delighted today to see the realization of the digital platform dream that connects smallholder farmers, aggregators, processors and banks in East Africa. Smallholder farmers can now enjoy increased profits courtesy of the reduced transaction costs (financial and time wise) and have peace of mind from the secured platform. We are hopeful that women, through the e-payment services, will now have more access and control of their financial resources ultimately transforming the health, nutrition and economic prosperity of their homes and by extension their communities”.

USADF has started using MFN in Uganda to help reach underserved communities across all value-chains in the agricultural sector, with a target of adding 20,000 farmers by the end of 2019 and an ambition of growing this to 1 million farmers by end of 2020. This will be achieved by increasing farmer linkages to markets and formal financial services and growing the usage of MFN to millions of smallholder farmers across Africa. 

READ  Come September, some Apps may no longer work on your iPhones and iPads. And here's why

In partnership with Mastercard, USADF is also providing participating farmers with a host of other value-added services, including logistics and transportation, best agronomic practices, as well as access to warehousing facilities. This will be delivered through their implementing partner, the Uganda Development Trust (UDET).

The use of Mastercard’s technology will help smallholder farmers establish a financial footprint important to improve inclusivity, is also a way of marketing and reaching more users for Mastercard’s products.

Readers 2,626

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Tags: MasterCardMastercard Farmers Network
Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

Related Posts

Toshiba
Tech

Chrome Now Helps You Change Weak Passwords

January 23, 2021
0
Tech

Top 5 Skills That Modern Software Developers Need to Have

January 22, 2021
0
Tech

What Software Developers Need to Know About Burnout

January 22, 2021
0
Tech

Which is Better, Leasing or Purchasing Farm Equipment?

January 22, 2021
0
Tech

Three Kenyan teams excel at the Huawei ICT Competition Global Finals

January 22, 2021
0
Tech

Effective and Reliable Media Transfer

January 22, 2021
0
Health

54gene launches a genome sequencing lab to track infectious and non-communicable diseases prevalent in Nigeria

January 22, 2021
0
Tech

Google’s Project Loon, solar-powered internet balloons discontinued

January 22, 2021
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

Finnfund & Norfund double Starsight’s funding to $20 million for Ghana expansion

January 23, 2021

African tech startup funding passes $700m in 2020 despite COVID-19

January 23, 2021
Toshiba

Chrome Now Helps You Change Weak Passwords

January 23, 2021
Toshiba

Shoppable Ad Formats Are Coming Soon To Youtube

January 23, 2021

Hero MotoCorp Surpasses the Monumental 100M Cumulative Production Milestone

January 23, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: