Financial Inclusion and Poverty Alleviation among Smallholder Farmers in Zimbabwe

David Mhlanga (), Steven Henry Dunga () and Tankiso Moloi ()
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David Mhlanga: University of Johannesburg, South Africa
Steven Henry Dunga: North-West University, South Africa
Tankiso Moloi: University of Johannesburg, South Africa

Eurasian Journal of Economics and Finance, 2020, vol. 8, issue 3, 168-182

Abstract: The study sought to investigate the impact of financial inclusion on poverty reduction in Zimbabwe among the smallholder farmers. It is alleged that financial inclusion can help in achieving seven of the seventeen sustainable development goals (SDGs), which include poverty eradication in all its forms everywhere, ending hunger, achieving food security, ensuring improved nutrition as well as promoting sustainable agriculture and many others. Using the simple regression method, the study discovered that financial inclusion has a strong impact on poverty reduction among smallholder farmers. The study went on to discover that, for the government to tackle poverty especially among the smallholder farmers, it is important to ensure that farmers do participate in the financial sector through saving, borrowing and taking out insurance among other services. So, it is important for the government of Zimbabwe to fully implement policies that encourage financial inclusion such as making sure that farmers find it easy to access financial institutions and encouraging financial institutions to review transaction costs like bank account opening charges periodically, implementing financial education programs among the farmers because these variables are important in influencing farmers to participate or preventing them from using financial services. Keywords: Financial Inclusion, Smallholder Farmers, Poverty Alleviation, Zimbabwe Journal: Eurasian Journal of Economics and Finance

Date: 2020
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