Rural Finance Workshop Outcomes and Recommendations
Explore policy, capacity building, communication, and research suggestions to promote rural finance growth in Africa. Outcomes highlight the role of government, investment strategies, and need for innovative solutions.
Rural Finance Workshop Outcomes and Recommendations
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Presentation Transcript
OUTCOMES AND RECOMMENDATIONS AFRACASouthern Africa Sub regional Workshop of “Rural Finance Intermediation for Growth and Wealth Creation in Africa”, Organized by the African Rural and Agriculture Credit Association Held 4-6 November 2009, in Harare, Zimbabwe
RECOMMENDATIONSCategories • Policy • Capacity building • Communication and social marketing • Research and knowledge management
Major Outcomes • The role of Govt in rural finance • Invest in social & economic infrastructure • Economically viable and smart subsidies • -at least 10% of GDP to invested in agriculture & rural sector • Legal framework that works • Policy clarity, that dont disrupt activities • The experiences and case-studies from other countries • especially, the Swaziland Sugar Cane model, which has been replicated successfully were eye-opener
Policy Recommendations • Role of Government • - infrastructure, roads, dams, irrigation • Agriculture is the backbone of economy and livestock backbone of agriculture • Promotion of inclusive financial system and incentives to with it • Micro-Meso-Macro Sector Risk Mitigation • -Risk mitigation policy and strategy along the Agricultural multiple peril insurance(weather, yield, price) • Central Banks • To provide information on development partners support for institutions willing to operate in rural areas • To be encouraged to come up with innovative products suitable for women and young entrepreneurs • MFI • To promote themselves and get involved in community banking
Capacity Building • To give financial education to the beneficiaries • To ensure that beneficiaries are effectively linked to markets and technical support services • To capacitate all the institutions, Central Bank Commercial Banks, MFIs and Govt on credit systems and technical support
Communication and social marketing • To promote farmers links to networks in particular those providing info on appropriate technology, prices
Research • To carry out research around community banking to find out what policies will promote local banking for local development • To create and maintain data base to enable lobbying of goverments • To develop appropriate technologies