Islamic financing on agriculture in Sub-Saharan Africa

Randi Swandaru

Chapter 3 in Islamic Finance in Africa, 2022, pp 29-43 from Edward Elgar Publishing

Abstract: Agriculture is considered the most important sector for socio-economic development in Sub-Saharan Africa. It supports 14% of the region's GDP and becomes the main livelihood for most workers in Sub-Saharan Africa. However, the productivity of the agricultural sector is far left behind than in other regions. Land degradation and climate change add serious complexity to the imminent food insecurity problem in this region. Moreover, the significant population growth becomes a double-edged sword for Sub-Saharan Africa's future. It can significantly contribute to the region's economic progress if it is channeled efficiently into the economy and business. However, it may also cause rampant unemployment and social problem. This chapter discusses how Islamic finance can play its role in the agricultural sector amidst the growth of the Muslim population in Sub-Saharan Africa. A qualitative research methodology is conducted to elaborate the Islamic commercial and social finance solutions for agricultural financing.

Keywords: Development Studies; Economics and Finance (search for similar items in EconPapers)
Date: 2022
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