Under the partnership, Ecobank will extend the reach and impact of the Mastercard Farm Pass platform leveraging its Pan-African network of 33 countries. Many smallholder farmers in Sub-Saharan Africa face several challenges. According to McKinsey and Company, more than 60% of the population of Sub-Saharan Africa are smallholder farmers, with the agricultural sector contributing an estimated 23% of the continent’s GDP. Mastercard Farm Pass contributes to this by offering a digital platform that makes it easier for smallholder farmers to move from subsistence to commercial farming. According to Ecobank, since its launch in 2015, Mastercard Farm Pass has reached nearly one million smallholder farmers in Uganda, Tanzania, Kenya, and India, enabling them to command 25%-50% higher prices and increase harvest productivity.

Source: The North Africa Journal June 15, 2022 07:26 UTC