Kenya Agricultural Commodity Exchange (KACE): Linking small-scale farmers to national and regional markets
Kenya Agricultural Commodity Exchange (KACE) is the first and only national agricultural commodity exchange in Kenya, and it differentiates itself by dealing with a variety of commodities of which maize and beans are the most heavily traded.
KACE acting as an intermediary further empowers rural farmers with market information and provides capacity enhancement, business training and technical assistance. In contrast, the Nairobi Coffee Exchange and the Tea Auction each trade one commodity each. The main activities of KACE include linking farmers and mainstream buyers by collecting information on the prices in different markets of various commodities on a daily basis from market vendors then availing them to the farmers in real time. Modern information communication technology (ICT) makes this possible through mobile phone handsets and personal computers. Trades are made through competitive bids and offers, once a buyer and a seller agree to trade, KACE acts as a clearing house and arranges the financial and logistical aspects of the sale thus giving the farmers options as well as bargaining power. KACE’s services include: a mobile phone short message service (SMS), interactive voice response (IVR) service, daily radio bulletins, a live radio auction service and online computer services.