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OUTCOMES AND RECOMMENDATIONS AFRACA Southern Africa Sub regional Workshop of “Rural Finance Intermediation for Growth and Wealth Creation in Africa” , . O rganized by the African Rural and Agriculture Credit Association Held 4-6 November 2009, in Harare, Zimbabwe. RECOMMENDATIONS Categories.
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OUTCOMES AND RECOMMENDATIONS AFRACASouthern Africa Sub regional Workshop of “Rural Finance Intermediation for Growth and Wealth Creation in Africa”, Organized by the African Rural and Agriculture Credit Association Held 4-6 November 2009, in Harare, Zimbabwe
RECOMMENDATIONSCategories • Policy • Capacity building • Communication and social marketing • Research and knowledge management
Major Outcomes • The role of Govt in rural finance • Invest in social & economic infrastructure • Economically viable and smart subsidies • -at least 10% of GDP to invested in agriculture & rural sector • Legal framework that works • Policy clarity, that dont disrupt activities • The experiences and case-studies from other countries • especially, the Swaziland Sugar Cane model, which has been replicated successfully were eye-opener
Policy Recommendations • Role of Government • - infrastructure, roads, dams, irrigation • Agriculture is the backbone of economy and livestock backbone of agriculture • Promotion of inclusive financial system and incentives to with it • Micro-Meso-Macro Sector Risk Mitigation • -Risk mitigation policy and strategy along the Agricultural multiple peril insurance(weather, yield, price) • Central Banks • To provide information on development partners support for institutions willing to operate in rural areas • To be encouraged to come up with innovative products suitable for women and young entrepreneurs • MFI • To promote themselves and get involved in community banking
Capacity Building • To give financial education to the beneficiaries • To ensure that beneficiaries are effectively linked to markets and technical support services • To capacitate all the institutions, Central Bank Commercial Banks, MFIs and Govt on credit systems and technical support
Communication and social marketing • To promote farmers links to networks in particular those providing info on appropriate technology, prices
Research • To carry out research around community banking to find out what policies will promote local banking for local development • To create and maintain data base to enable lobbying of goverments • To develop appropriate technologies