Co-operative Bank of Kenya has enlisted 400,000 farmers on its online marketplace called Co-op Bank Soko.
The platform brings together agricultural sector players to help producers get better prices, among other objectives.
“We onboarded 400,000 farmers on the digital platform ‘Co-op Bank Soko’, an online marketplace that enables farmers to receive a higher price for their produce, buy better quality inputs and get access to Co-op Bank’s financial services,” the bank says.
The platform was formed in February 2021 in a partnership with MasterCard and Rabobank –a Dutch multinational banking and financial services provider.
“It brings together farmers across various value chains, input providers and buyers of produce.”
The Nairobi Securities Exchange-listed lender has strong connections in the agricultural sector, which has many savings and credit co-operative societies catering to farmers producing tea, coffee and milk, among other commodities.
The bank says the platform is aimed at leveraging technology to promote the financial and economic inclusion of small-scale farmers while generating revenue for them.
