Financing Agriculture and Rural Areas in Sub-Saharan Africa: Progress, Challenges and the Way Forward

IIED, ISBN 978-1-78431-186-5; March 2015

38 Pages Posted: 21 Dec 2015

See all articles by Richard L. Meyer

Richard L. Meyer

Ohio State University (OSU) - Department of Agricultural, Environmental & Development Economics

Date Written: March 2015

Abstract

In spite of investments and policy reforms, Sub-Saharan African countries lag in supplying financial services for agriculture and rural areas. New products, delivery channels, and partnerships, along with greater attention to savings, provide fresh optimism that this situation will be corrected. This paper examines several examples, with special attention to developments with savings groups and financial innovations with mobile phones and information and communication technologies (ICT). The telecom revolution and other innovations suggest that their use may leapfrog some difficult transportation and communication problems that drive up transaction costs and risks, and restrict financial inclusion for the poor.

Keywords: Agricultural finance, rural finance, credit, savings Sub-Saharan Africa

JEL Classification: Q14, O16, N57

Suggested Citation

Meyer, Richard L., Financing Agriculture and Rural Areas in Sub-Saharan Africa: Progress, Challenges and the Way Forward (March 2015). IIED, ISBN 978-1-78431-186-5; March 2015, Available at SSRN: https://ssrn.com/abstract=2705948 or http://dx.doi.org/10.2139/ssrn.2705948

Richard L. Meyer (Contact Author)

Ohio State University (OSU) - Department of Agricultural, Environmental & Development Economics ( email )

Rural Finance Program
Columbus, OH 43210-1067
United States
614-247-6357 (Phone)
614-292-7362 (Fax)

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