February 2025

Mohammad Anas Wahaj | 28 feb 2025

Prof. Kumud Shukla and research scholar Senamiso L. Ndlovu, both from Galgotias University (UP, India), advocate Zimbabwe's agricultural sector to utilize India's success with technology led agricultural and financial solutions. As smallholder farmer's constitute 80% of the farming population, agricultural sector is crucial to Zimbabwe's economy. But it struggles in many fronts and particularly in financial services with inefficiencies, limited access and high operational costs. Prof. Shukla and Ms. Ndlovu suggest, 'By leveraging digital innovations such as mobile banking, cloud computing, data analytics, and blockchain technology, Zimbabwe can streamline microfinance processes, reduce transaction costs, improve risk assessments, and enhance transparency.' They point out challenges that hinder Zimbabwe's agri-fintech growth - weak digital infrastructure, scarce financial resources, lack of knowledge and information and inconsistent government policies. Smallholder farmers suffer with lack of agri-fintech in many ways, including - restricted market access, sky-high transaction costs and stagnant agricultural growth. Researchers suggest using India's experience in tackling of similar challenges through a combination of government initiatives [Digital Agriculture Mission (DAM), National e-Governance Plan in Agriculture (NeGPA), Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)], private sector innovations [Rise of Agritech Startups, Fintech for Farmers, Agri-Input Tech], and public-private partnerships. Zimbabwe can transform its agricultural microfinance sector through - (1) Making technology affordable and accessible. (2) Empowering farmers with digital literacy considering it as a national priority. (3) Encouraging public-private synergy to scale agritech adoption. (4) Strengthening Farmer Producer Organizations (FPOs), as they can empower smallholders by improving their bargaining power and access to financial services. Read on...

Krishi Jagran: What Zimbabwe Must Do: Key Takeaways from India in Microfinance
Authors: Senamiso L. Ndlovu, Kumud Shukla

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