Use of mobile financial services among farmers in Africa: Insights from Kenya

The recent proliferation of mobile phones in rural Africa has also led to increased interest financial services (MFS), such as money and banking. Such are often portrayed promising tools improve agricultural finance, especially among smallholders who typically underserved by traditional banks. However, empirical evidence on the actual use MFS for activities is thin. Here, we nationally representative data from Kenya analyze payments, savings, credit farming population. We find that more than 80% farmers money, but only 15% this innovation agriculture-related payments. Mobile loans investments used less 1% farmers. Usage rates somewhat higher modern supply chains, even though them banking accessible still much important. Overall, agriculture lower commonly assumed, indicating these do not yet have a transformative impact smallholder farming. As one leaders boom Africa, general finding likely holds other African countries well.