FinTech Solutions Supporting Sustainable Agriculture - Lessons from Africa: FinTech Solutions Supporting Sustainable Agriculture

Glavanits, Judit [Glavanits, Judit (Jogtudomány), szerző] Deák Ferenc Állam- és Jogtudományi Kar (SZE); Szabo, Tamas [Szabó, Tamás (jog, nemzetközi m...), szerző] Állam- és Jogtudományi Doktori Iskola (SZE)

Angol nyelvű Konferenciaközlemény (Könyvrészlet) Tudományos
    Azonosítók
    This paper explores the transformative role of FinTech solutions in enhancing agricultural productivity and financial inclusion in Sub-Saharan Africa, a region confronted by myriad challenges including fragmented economies, limited capital, climate adversities, and restricted access to financial services. Drawing upon empirical examples, it delves into the potential of crypto-assets and blockchain technology to address these issues, spotlighting the rapid growth of the FinTech industry as a disruptive force capable of revolutionizing financial accessibility for rural communities. Through a comprehensive literature review and case studies, the study highlights innovative FinTech applications, such as mobile money services, which have significantly contributed to financial inclusion among smallholder farmers, facilitating access to savings, loans, and insurance products. The paper presents two pioneering initiatives from Kenya - the blockchain-based insurance model, Etherisc, and Agri-wallet, a digital wallet solution, demonstrating their effectiveness in mitigating risks associated with agriculture and enabling efficient financial transactions; and a central information-operator from Ghana, the Esoko. Furthermore, it identifies existing barriers to the wider adoption of FinTech solutions, including infrastructural deficits, legal uncertainties surrounding smart contracts, and the limited penetration of internet services, underscoring the imperative for enhanced digital infrastructure and regulatory frameworks to maximize the benefits of digital technologies for sustainable agriculture. The findings suggest that, despite challenges, the integration of FinTech in agriculture presents a promising avenue for boosting productivity, ensuring food security, and fostering economic resilience among rural populations in Africa. The paper calls for concerted efforts by stakeholders to address the digital divide and create enabling environments for the deployment of innovative financial technologies, paving the way for a more inclusive and sustainable agricultural sector.
    Hivatkozás stílusok: IEEEACMAPAChicagoHarvardCSLMásolásNyomtatás
    2025-02-08 04:01