The Human Account is led, created and developed by Dalberg with Rockefeller Philanthropy Advisors, and funded by the Bill & Melinda Gates Foundation.

 

Local partners are Lagos Business School in Nigeria, Ashoka University in India, not-for-profit development finance company, Karandaaz in Pakistan, and research and advisory firm, Busara Center for Behavioral Economics in Kenya.

Cautious

Independents

24% of Kenyan women farmers | 3.4 million people

cautious, familial, agentic

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SEGMENT OVERVIEW

Cautious Independents,

by the numbers

Cautious Independents are mostly lower to middle income rural married women with high income volatility relying on farming and social support. Approximately 3.4 million (24% of Kenyan female farmers) fall in this segment.

Cautious Independents

Women Farmer Average

AGE (25-44)

42%

58%

SOCIOECONOMIC (SES 1-3)

80%

74%

INCOME FROM FARMING

37%

40%

Driven by their circumstances, Cautious Independents are less financially healthy than female farmers and Kenyans on average. Due to their low and volatile income, they face frequent struggles with expenses and emergencies, as well as planning and saving to build financial cushions. Their economic struggles likely constrain their ability to focus on long-term financial plans and goals.

Financial Behavior & Attitudes

SAVINGS BEHAVIOR & ATTITUDES

Although Cautious Independents save, they save the least frequently due to their high income volatility. They tend to believe that they make too little money to save for the future.

SAVINGS ACCOUNTS

Cautious Independents use fewer savings channels than all other female segments. But they still manage to save at least quarterly or more, saving with family and in the home, driven by their need for liquidity.

BORROWING BEHAVIOR & ATTITUDES

Cautious Independents are active borrowers, likely to cover any shortfalls in earnings and to meet expenses. Yet they perceive themselves as low in dependability and are less comfortable with debt than other segments.

BORROWING ACCOUNTS

Cautious Independents prefer to borrow through family sources, with over three quarters having done so in the past year. Less than a fifth borrow using mobile wallets and one-sixth do so from informal financial groups and friends.

Confident Planners

Pakistan Women Average

 

DESIGN OPPORTUNITIES

How might we create products and services

for Cautious Independents that...

Support Aspirations

to Build Assets

Offer a layaway “investment” product, positioned as a mechanism to protect savings

Smoothen High

Income Volatility

Provide income smoothing loans that provide low minimums and high flexibility

Build Self-Esteem

and Trust

Provide positive reinforcement and recognition and simplify messaging

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This Kenyan Women Farmer segment analysis was completed through the support of Mercy Corps AgriFin Accelerate and Safaricom.