The Soros Economic Development Fund and the International Finance Corporation, a member of the World Bank Group, have announced a $1.25 million equity investment in the Ghanaian technology firm Esoko.

The investment will be used to provide small-holder African farmers and businesses with timely access to crop information that can help them negotiate better prices and improve their ability to get crops to market. Esoko publishes mobile phone software that enables different parties in the agricultural value chain to exchange real-time market information. Farmers receive text messages with current demands, prices of crops, and the location of seeds and fertilizers; businesses can track how their products are used and marketed to new customers; and associations and governments can share critical information using the bulk-text messaging feature.

The firm also is publishing what it claims is the first commodities index in Africa to help ensure that farmers are fairly compensated for their crops. To date, Esoko's technology is used in nine African countries.

"African technology firms are innovating and expanding beyond their domestic markets and we see a great opportunity to help ensure they have the proper financing for long-term growth," said Kent Lupberger, global head of IFC's technology, media, and telecom group. "Esoko is giving people practical tools to improve their lives and lift themselves out of poverty."