Opportunities for Digital Financial Services in Cocoa Value Chain in Cote d'Ivoire - Insights from New Data

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Title
Opportunities for Digital Financial Services in Cocoa Value Chain in Cote d'Ivoire - Insights from New Data
Author
Susie Lonie; Meritxell Martinez; Rita Oulai; Christopher Tullis
Year
2016
Publication/Event Date
June 10 2016
Abstract
This report investigates the potential for digital financial services (DFS) to improve financial inclusion among cocoa farmers in Côte d’Ivoire. The research, spearheaded by the International Finance Corporation (IFC) and supported by organizations like Cargill and the Mastercard Foundation, establishes that while cocoa farmers have relatively high incomes, a surprisingly low number have formal bank accounts, often perceiving banks as "not for them." The report highlights that DFS, particularly mobile money accounts, have a high adoption rate in rural areas and could be leveraged to offer tailored financial products, such as flexible savings and loan options, to help farmers manage their highly irregular, seasonal income. Ultimately, the study advocates for a full DFS ecosystem—including digital harvest payments—to address farmers' financial challenges, such as the struggle to budget through lean months and the need for emergency credit.
Resource Subject
  • Financial Inclusion
Keywords/Access Points
International Finance Corporation (IFC); World Bank Group; Mobile Money; Formal Bank Accounts; Flexible Savings; Loans
Language
  • English
Special Collections
  • Foundation Publications
Archival Record ID
MFA.2024.2481