Press release
December 21, 2021
Cameroon selects Edenred’s electronic options to optimize administration of its new subsidy application for local espresso and cocoa farmers
With the Agri resolution, offered by Edenred, the planet chief in unique-goal payment solutions, Cameroon’s government is setting up a electronic earmarked payment technique to simply, speedily and securely grant agricultural subsidies. The initiative is part of its “Farmer Gateway” plan, which will give direct funding to extra than 600,000 cocoa and coffee farmers to acquire this key sector of the place’s economy.
Cameroon launched the new subsidy program for domestic espresso and cocoa farmers in early 2021 at the behest of President Paul Biya. It is being managed by the Cocoa and Coffee Sector Enhancement Fund (recognised by its French acronym FODECC), a general public establishment supervised by the Minister of Trade and the Minister of Agriculture. Financed by export responsibilities and taxes on local cocoa and espresso processing, and backed by the European Union and EGIS1, the Farmer Gateway application aims to help cocoa and espresso farmers and to modernize these sectors.
Cameroon is at the moment the fifth most significant cocoa producer in the planet. It intends to support the extensive-phrase improvement of this sector to create 640,000 tons of cocoa by 2030 (compared with 260,000 tons in 2020). The state is also just one of Africa’s primary coffee producers, with designs to develop 125,000 tons of Robusta espresso and 35,000 tons of Arabica espresso in 2030.
The plan kicked off with a spending budget of 6.3 billion CFA francs in 2021, but this amount could rise to 50 billion CFA francs inside five yrs, in accordance to FODECC.
A electronic payment answer giving immediate obtain to FODECC input subsidies
Cameroon has selected the Agri Edenred digital answer for the style and design and management of its agricultural input subsidy application for 600,000 regional coffee and cocoa farmers.
Beneficiary farmers will get an Agri Edenred card with an individual QR code, which will be remotely credited with FODECC subsidies without having requiring any motion on their portion. Farmers with a smartphone will be ready to upload an e-voucher right by using the Edenred Super App’.
With this option, Cameroonian espresso and cocoa farmers will be able to just take benefit of their subsidies without having to travel everywhere, as perfectly as buy their agricultural inputs solely on-line.
For federal government authorities, the Agri Edenred digital answer guarantees clear resource allocation, fund traceability and improved day-to-working day method administration. In distinct, Agri Edenred will give Cameroon’s government conclude-to-finish management in excess of the amount of money, beneficiary and use of subsidies allotted to community farmers, therefore ensuring they fulfill their intent.
Agri Edenred: an Edenred Team remedy harnessing tech for superior to establish agriculture and food security in Africa
The option will be piloted amid 10,000 farmers in the Moungo location in 2022, prior to progressively getting extended to the 600,000 espresso and cocoa farmers suitable for the Farmer Gateway application.
Edenred leveraged on major technological financial investment, and its digital leadership to produce its Supper App’, specially made for the program’s operational requirements. Stakeholders which includes microlenders, cell cellphone operators and agricultural input distributors will be equipped to interact in a secure and traceable payment ecosystem, beneath the supervision of Edenred and FODECC.
Cameroon’s Ministries of Agriculture and Trade will also be capable to leverage genuine-time statistical information from the system to coordinate applicable policies far more proficiently.
Edenred’s presence in Cameroon will aid create a reasonable, transparent and virtuous payment ecosystem by way of the Agri remedy and its Super App’. It will increase the efficiency and foodstuff safety of Cameroonian espresso and cocoa farmers.
“We’re delighted to be performing along with the authorities to enable build Cameroon’s espresso and cocoa creation as aspect of this daring and visionary method. Agri Edenred’s start in Cameroon demonstrates Edenred’s one of a kind know-how in employing electronic earmarked fund alternatives, our ability for innovation and our determination to Africa. It also resonates with our goal, “Enrich connections. For superior.”. By developing a virtuous ecosystem that brings collectively the full Cameroonian coffee and cocoa sector, Agri Edenred is selling the growth of nearby agriculture even though strengthening local farmers’ conventional of living,” explained Daniel Ibrahim, Edenred’s Director of Company Advancement for Africa.
With its Agri Edenred digital unique-goal payment resolution, Edenred is a companion of decision for ministries of agriculture, assist agencies and NGOs in the implementation of innovative agricultural input subsidy applications. The electronic alternative assures transparent resource allocation, subsidy traceability and improved day-to-day method administration.
Cameroon is the sixth country to roll out Edenred’s Agri option. Agri Edenred has currently benefited far more than 300,000 farmers, enabling them to raise their revenue by an ordinary of 18% in the initially yr, in accordance to an evaluation by the Worldwide Fertilizer Enhancement Heart (IFDC)2. Making on this success, Edenred will go on to explore revolutionary opportunities to help individuals at perform in Africa.
▬▬
About Edenred
Edenred is a top digital system for companies and payments and the daily companion for folks at perform, connecting more than 50 million people and 2 million partner retailers in 46 nations around the world by means of extra than 850,000 company consumers.
Edenred delivers particular-objective payment answers for food (these as food gains), mobility (this sort of as multi-energy, upkeep, toll, parking and commuter methods), incentives (these types of as present playing cards, worker engagement platforms) and company payments (such as virtual playing cards).
Legitimate to the Group’s intent, “Enrich connections. For good.”, these options boost users’ very well-staying and paying for energy. They make improvements to companies’ attractiveness and effectiveness, and vitalize the work market and the regional economic climate. They also foster access to healthier meals, much more environmentally welcoming products and solutions and softer mobility.
Edenred’s 10,000 workforce are fully commited to creating the environment of work a connected ecosystem that is safer, extra efficient and much more liable every single working day.
In 2020, thanks to its worldwide technological know-how belongings, the Team managed close to €30 billion in business enterprise volume, generally carried out by means of cellular programs, on line platforms and playing cards.
Edenred is shown on the Euronext Paris inventory exchange and involved in the pursuing indices: CAC Up coming 20, CAC Huge 60, Euronext 100, FTSE4Excellent and MSCI Europe.
The logos and other logos mentioned and showcased in this press launch are registered trademarks of Edenred S.E., its subsidiaries or third events. They might not be employed for commercial needs with no prior composed consent from their entrepreneurs.
▬▬
CONTACTS
|
Communications Office Emmanuelle Châtelain Media Relations Matthieu Santalucia |
Investor Relations Cédric Appert Loïc Da Silva |
1 EGIS is a significant consulting and engineering company that created much more than €1 billion in earnings in 2020.
2 Global Fertiliser Enhancement Centre
Attachment
