{"id":6469,"date":"2019-11-08T10:22:21","date_gmt":"2019-11-08T07:22:21","guid":{"rendered":"https:\/\/africasustainabilitymatters.com\/?p=6469"},"modified":"2026-01-11T05:30:40","modified_gmt":"2026-01-11T05:30:40","slug":"peasant-farmers-lag-as-kenyas-financial-inclusion-gathers-pace","status":"publish","type":"post","link":"https:\/\/rayscohosting.best\/ASM\/2019\/11\/08\/peasant-farmers-lag-as-kenyas-financial-inclusion-gathers-pace\/","title":{"rendered":"Peasant Farmers Lag As Kenya\u2019s Financial Inclusion Gathers Pace"},"content":{"rendered":"\n<p><strong>By Elvis\nMboya<\/strong><\/p>\n\n\n\n<p>Despite\nthe strong presence of mobile money in rural areas, most farmers remain\nfinancially excluded and are often at the bottom of the economic pyramid.<\/p>\n\n\n\n<p>Despite\nthe fact that they are the ones most likely to need financing for their core\neconomic activities and earn a living, they are perceived as high risk and\nprone to loan defaults as they lack financial history, fresh GSMA agri-tech\nstudy shows.<\/p>\n\n\n\n<p>According\nto the 2019 FinAccess Household Survey, access to formal financial services has\ngrown alongside the rise in mobile money use in rural Kenya, yet most\nunbankable peasant farmers have not benefited.<\/p>\n\n\n\n<p>\u201cBarriers\nto further adoption persist, such as gaps in rural mobile coverage,\navailability and liquidity of mobile money agents to support cash-outs, and a\nlack of formal identification documents to meet rigorous know-your-customer\n(KYC) requirements.\u201d<\/p>\n\n\n\n<p>According\nto the 2017 Global Findex database, 81.6 per cent of the 29.6 million Kenyans\naged 15 and older have an account with a financial institution or mobile money\nprovider. In rural areas, this figure is slightly lower at 81.2 per cent.<\/p>\n\n\n\n<p>In the same year, it indicates that over 73 per cent of adults in rural areas had access to a mobile money account, while 37 per cent received money from the sale of agricultural products through a mobile phone, compared to around 30 per cent in 201\u2026<\/p>\n\n\n\n<p><a href=\"https:\/\/www.businessdailyafrica.com\/datahub\/-Farmers-lag-as-Kenya-financial-inclusion\/3815418-5340580-7gb8uq\/index.html\">Read more>><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Elvis Mboya Despite the strong presence of mobile money in rural areas, most farmers remain financially excluded and are often at the bottom of the economic pyramid. Despite the&hellip;<\/p>\n","protected":false},"author":3,"featured_media":6470,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","pagelayer_contact_templates":[],"_pagelayer_content":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[101],"tags":[],"class_list":["post-6469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-news"],"_links":{"self":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts\/6469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/comments?post=6469"}],"version-history":[{"count":0,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts\/6469\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/media\/6470"}],"wp:attachment":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/media?parent=6469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/categories?post=6469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/tags?post=6469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}