Financial education is an essential part of smallholder empowerment. Education is a door-opener to financial inclusion, an important aspect of agricultural development. The Syngenta Foundation for Sustainable Agriculture, together with Ebdaa Bank, recently examined the financial habits and attitudes of 150 farmers across four states in Sudan. Funding for this first-ever such assessment and a related financial education initiative comes from the Arab Gulf Programme for Development (AGFUND) and the Swiss Capacity and Building Facility (SCBF).
One of the main findings of the survey is that most participants understand the need to track their savings but declare not usually knowing how much money they have available for daily spending. When unexpected expenses do arise and participants are unable to cover them, they usually turn to friends or family for support, despite being clients of financial institutions. For more information, please read the press release here and download the full report below.