Ivorian farmers have limited access to credit (study)

March 14, 2017

Abidjan - While agriculture remains the engine of economic growth in Côte d'Ivoire, farmers have limited access to financial services, which limits the development of their activities, according to a study published on Tuesday. "95% of farmers are paid cash in cash, and in this situation they can not benefit from financial services for the development of their activities or the needs of their households," according to a survey In 2016 by the Group Advisory service to the poor, a World Bank research center. "Only 5% of small farmers in the Ivory Coast have an account in a bank," notes the study, which covered 3,000 households, of which 5,000 are farmers.

The study found, however, a positive element: 85% of farmers have a mobile phone and 27% have a mobile money account thanks to their telephone. In Côte d'Ivoire, agriculture employs 66% of the active population and contributes 22% to the GDP. Most agricultural households are small producers with an average production area of ​​less than four hectares. Agricultural development plays a key role in reducing poverty in Côte d'Ivoire, as the incidence of poverty in rural areas is 56.8% compared to 35.9% in urban areas.

Source:news.abidjan.net