By Deo Waswa
United states Africa development foundation, International center for tropical Agriculture and MasterCard have entered into a public –private partnership to empower tens of thousands of small holder farmers in Uganda.
The partnership which was signed today 10th, July 2019 at Kampala Serena hotel during Farmers summit seeks to extend the reach of the MasterCard Framers Network platform, giving farmers digital access to markets, Valuable inputs and Financial services.
According to Salah Goss, head of MasterCard labs for financial inclusion, the partnership will leverage technologies to improve the agriculture value chain, especially to the farmers, buyers, and value added services providers.
She noted that Buyers can access information about the availability and quality of produces immediately after harvest, and farmers will have real time price information.
“These are just a couple of example of how the MasterCard Farmers network streamlines the interaction between farmers and buyers, while potentially marking it easier for farmers to establish a credit footprint for future loans’’ she added.
Salah noted that, farmers will be provided innovative ideas that have the potential to grow and also have a deep social impact on the lives of rural people living in poverty throughout the country.
According to her, for the several years, the country has registered substantial economic growth but much of this growth has not benefited the rural poor, especially smallholder farmers who are mostly women and who depend on subsistence agriculture for their livelihoods.
She however, revealed that majority of rural households in Sub-Saharan Africa remain financially excluded, and More than 70% of these families derive a large portion of their income from agricultural activities.