Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Kenya

Local start-up gets Sh20m boost from M-PESA Foundation

NAIROBI, Kenya, Oct 8 – A Kenyan-born agricultural information platform, Mfarm has received a Sh20 million boost from the M-PESA Foundation to scale up its agent network across the country.

Through the Mfarm platform, farmers are able to access price information for their crops on their mobile phones, granting them more power to decide where to market their produce.

Farmers will be required to send a text message with their name and location to the number 20255 to get the relevant information on their crops.

The partnership with the M-PESA Foundation is aimed at bridging the digital divide between the agricultural and ICT sectors as well as to provide using mobile technology.

Mfarm Director Linda Kwamboka said the software ensures that farmers are no longer exploited by middlemen who make away with all the profits leaving the small scale farmers with little, if any, income.

She says that Mfarm has deployed an agent network whose key role is to recruit farmers onto the platform and to act as collection points for different farm produce.

“This agent network is fashioned around the M-PESA agent network model,” she says.

More than 8000 farmers are currently registered on the platform.

“This product will make agriculture a viable business option especially for small scale farmers who have over the years suffered exploitation by middlemen which has left them making low profit margins,” said M-PESA Foundation Executive Director Les Baille.

Advertisement. Scroll to continue reading.
Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...