Cocoa Bean Traders as Saving Agents


Using a cocoa bean trader as saving agent to collect savings and deposit them on individual farmers’ bank accounts or make a branchless banking deposit transaction is a promising model to increase savings amongst farmers. The biggest constraints are trust in the product/service, literacy to use it and the question why a trader should act as an agent. Specific incentives have to be set, e.g. commissions paid and/or the outlook to higher business volumes in the future. Farmers need a bank account (in a branch or branchless), what might bear costs. More important is that farmers must be motivated to save and the trader could function as easily accessible intermediary to do so.

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