Mastercard and Gates Foundation bring mobile banking to East African farmers via feature phones

Mastercard, along with the Bill and Melinda Gates Foundation, announced the launch of 2KUZE, a digital platform that connects smallholder farmers, agents, buyers and banks in East Africa. 2KUZE enables farmers to buy, sell and receive payments for agricultural goods via their feature phones, bringing the benefits and security of mobile commerce to farmers in the region.

2KUZE is currently being piloted in Nandi Hills, Kenya, in partnership with Cafédirect Producers Foundation, a nonprofit organization working with 300,000 small holder farmers globally.

The Mastercard Lab in Nairobi will use this mobile technology, funded through a grant from the Bill and Melinda Gates Foundation, to improve financial access, deliver operational efficiency and facilitate faster payments in agriculture. 2KUZE makes transacting much safer and simpler for the farmer, the buyer and the agent. 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.