Cocoa Farmers Willing to Use Mobile Money
- Two thirds of the cocoa farmers (67%) surveyed expressed a willingness to adopt a mobile money solution for their financial transactions.
- Seventy-five percent (75%) of the farmers believe mobile money would help save them time and offer a convenient way to conduct their financial transactions.
- Eighty-six percent (86%) of farmers willing to use mobile money are willing to use agents for cash-in/ and cash-out transactions.
Perceived Benefits of Mobile Money
- Ninety-eight percent (98%) of the farmers receive payment for their cocoa sales in the form of cash.
- Ninety-seven percent (97%) of cocoa famers pay their bills with cash.
|Farmers who Save|
- Less than half of the farmers (46 %) reported that they currently “keep” or save cash (using either formal or informal channels).
- Of those famers who save, more than half of the farmers (54%) save in banks or BPRs (rural credit unions). Other farmers (46%) save in semi-formal and informal channels. Ninety-nine percent (99%) of farmers who save in banks also save in semi-formal and informal channels.
|Sources of Loans for Farmers|
- Only thirty-six percent (36%) of farmers report that they borrow money and then generally borrow from a bank only when the loan is subsidized by a program of the Government of Indonesia.
- Women farmers are more likely to borrow from PNPM, a government community development program.
- Farmers who borrow from banks continue to borrow because they now are familiar with banking process and have an established credit history.
- Two-thirds (66%) of the farmers reported that they never received money from their family members/friends.
- Less than one third of the farmers (27%) sent money to their family members or friends (living within or outside the country).