This project is about delivering educative and informative SMS messages to farmers and consumers that would enable them connect directly and do business.It is intended to seek funds  and expertise that will enable us fulfill  the wishes of the rural populations within some isolated English speaking communities in Cameroon.

The rural community here in question are the farmers and consumers within the localities of Limbe and Buea. They need information and education on pesticides necessary for the health of their crops and the soil, and information about available markets and consumers demanding their products.

 This approach would  enable them improve their economic situation, fight poverty and promote responsible farming practices in areas not readily accessible by agricultural field workers.

We have chosen to exploit this idea because since this very approach has been  used in the banking and transport sectors with  success,  we believe it shall be productive to replicate this simple idea. Basing it on existing infrastructures of mobile communication, these simple tools of Information and Communication Technologies would positively affect farmers and consumers as well.

This proposal is hinged on the premise that the lack of access to immediate information is the reason why farmers and consumers alike fall short of satisfying their quests. African farmers on the one hand strive to increase the continent’s food production and make economic gains for themselves through farming in the expectation that consumers would just “stumble” upon their products “with pockets full of money”. Unfortunately this has not been the case, as farmers work hard and end up either destroying their ecosystem through uninformed farming practices thereby unwittingly destroying their dreams to prosperity on the one hand, and on the other hand depriving consumers “with pockets full of money” the opportunity to avail themselves of these products, stay clear of famine and contribute towards fulfilling the farmers’ quest to economic posterity.

 The advent of the internet, websites and satellite technologies though very effective as tools of modern communications  fall out of the range of these actors for two reasons: either farmers and consumers don’t know how to exploit them, or that they cannot afford the cost of getting connected and finding the information they need. The proliferation of websites that document information about farm products and consumers therefore does little or nothing to remedy this situation. Therefore, this proposal reposes entirely on SMS messaging to all actors involved because it is more instantaneous than other applications in use.

The WTS (Wireless Trading System) aims to assist in alleviating financial exclusion and help poverty reduction using text message on the mobile phone to access stock market facilities and other financial services.Access to financial services has been recognised as a key factor for economic growth and development especially in developing countries and emerging markets.In these locations, financial services are only used by a section of the population with access being a prohibiting factor for people in rural regions.The system leverages on the global success of money transfer remittances engaging migrant communities, internationally to purchase stocks and other financial products on behalf of the recipient in the developing country. The stocks are managed by the recipient in the developing country, through the use of the mobile phone receiving news alerts, information, stockbroker advice, services and making enquiries via text messaging.Sending funds through remittance assists the recipient with immediate financial challenges, this solution not only aids the recipient financially, also enables the recipient to be educated about the benefits of investment for long term financial sustainability.

This innovative concept takes remittances to the next level and has the following key advantages and benefits.

 

It is designed as a promising solution to help increase access to financial services using low-cost mobile technology, convenience and accessibility to serve customers in remote locations worldwide.

 

It provides financial institutions with a platform to introduce new products, cost effectively to the financially excluded which in turn lowers the access cost, which has hitherto served as a deterrent for the disadvantaged groups.

 

Through mobile technology it assists with poverty reduction through the empowerment of the local community with financial services from banking to insurance and financial investments.

 

It educates the local community on the use of financial products through text message, helps bridge the digital divide through the use of mobile technology and aims to provide self sufficiency. The challenges and opportunities of this project are indeed vast.

 The project is led by a team of three professionals with over ten years of experience in financial services and mobile telecommunications..