Agri Business

Kenya evinces interest in Rubber Board’s e-market concept

BL Kochi Bureau | | Updated on: Mar 22, 2022

Board set to launch its e-market mRube by next month

Kenya has plans to replicate the e-market concept of the Rubber Board of India and set up an electronic procurement system for different commodities.

Rubber Board is in the final phase of rolling out the electronic market “mRube” for natural rubber by next month. The software development is almost completed and the security audit is being done.

According to Board officials, the e-market has been conceptualised after a detailed study of the system and consultations with stakeholder groups. The online trade system is perfectly aligned to match the prevailing physical trade system and eliminates vulnerabilities. It is envisaged that electronic trading would enhance the market visibility and bargaining capacity of buyers and sellers.

To get a first-hand experience of the Board’s e-market concept, a team of the National Treasury of Government of Kenya, comprising 10 senior officers led by Lynne Ngina Nyongesa, Director, ICT, visited the Rubber Board and held discussions with the Market Promotion Division on the theoretical framework and functional aspects of ‘mRube”, the brand name of e-market.

The Kenyan delegation was highly impressed with the proposed trade system in ‘mRube’ and its transparency features. The delegation made an assessment that the Board’s e-market could help rubber growers in realising better price discovery and can minimise their trading risk. The Kenyan delegation also sought Board’s technical assistance and support in developing a similar e-trade system for their commodity procurement.

Published on March 22, 2022
COMMENTS
This article is closed for comments.
Please Email the Editor

You May Also Like

Recommended for you