The Chief Executive Officer of Esoko Networks, Mark Davies, says three thousand farmers across the country can now negotiate better prices for their crops thanks to real-time market data sent to their mobile phones.
“The mobile phone application sends farmers market data via SMS messages, monitor prices, crop demand, weather and the location of seeds and fertilizers.” Davies said.
He made this known to B&FT during the launch of the company’s range of services, including 1900 short-code that allows farmers to text and receive commodity price results.
Esoko is an innovative market service that allows anyone to access market information over their mobile phones. With up to date information from markets across the country, businesses and individuals can access prices, browse offers to buy or sell, or advertise their own products and services.
Results demonstrate that farmers are able to improve revenues by negotiating better prices, or selecting more favourable markets for their produce. Traders that use Esoko's SMS can procure product more quickly and at better prices for everyone.
“Our goal is to demonstrate that targeted market information can not only dramatically change lives, but be a viable commercial business at the same time.
“Farmers are prepared to pay for the service simply because it has real and immediate value to them,” said Davies.
Bernard Otabil, Managing Director of Esoko Ghana, speaking at the launch, said: “We have demonstrated how a modern business, with both social and financial objectives, can improve livelihoods not only in Africa, but beyond.
“We believe that with the right kind of information and support, farmers can transform agriculture to become not just a business, but serious business.”
As part of the launch activities, the company is to embark on a 34 market road-show; visiting key locations across the country to demonstrate the product. It will also promote the “There’s a better way” campaign, a provocative series of advertising suggesting how communication tools can transform business.
Otabil explained that the road-show was about getting the word out in an entertaining an informative way, adding that, “Ghana is pioneering all these approaches because we want to show the rest of the continent how it’s done.”
Esoko is currently in 15 African countries with different public and private partners in each, and is expanding rapidly.
In Ghana, it is the first company to develop an agricultural commodity index, providing market trend analysis on both retail and wholesale commodity trading levels. The index is made public on a weekly basis.
The International Finance Corporation and Soros Economic Development Fund (SEDF) have invested $2.5 million in the company, which they think will help revolutionise the terms of trade for small-scale agriculture on the continent.
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