32% of Kenyan women farmers | 4.6 million people
driven, optimistic, planners
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SOCIOECONOMIC (SES 1-3)
Financial Behavior & Attitudes
Women Farmer Average
SAVINGS BEHAVIOR & ATTITUDES
Of female farmers, they save the most frequently, with more than three quarters saving monthly or more. Many save with a goal-based and general savings strategy, although their deliberateness may be limited by their difficult financial circumstances.
Careful Strivers' saving strategy is the most diverse across female farmers, with the majority using two or more channels every quarter - be it saving with banks and cooperatives, informal groups and friends, home savings and mobile money.
BORROWING BEHAVIOR & ATTITUDES
Virtually all Careful Strivers borrow, and nearly four-fifths do so quarterly or more, the leading rate among women farmers. They have the second strongest sense of their own dependability and highest comfort holding debt among women farmers.
They borrow through a diverse range of channels, leading women farmers in borrowing from informal groups and friends, their preferred source of credit, as well as family and mobile wallets.
by the numbers
Careful Strivers are mostly low to middle income rural married women who are active in farming or who are self-employed. Approximately 4.6 million (32% of Kenyan female farmers) fall in this segment.
Women Farmer Average
INCOME FROM FARMING
Careful Stivers are highly active financial managers across channels. They primarily manage their money through informal groups and friends, family, and mobile wallets. Across all three channels, they have the leading rates of saving and borrowing among women farmers. Driven by their sophisticated financial management, Careful Strivers are the second healthiest segment financially.
How might we create products and services for Careful Strivers that...
Promote Long-Term Savings Habits
Leverage their comfort with savings to protect some of their income for larger, future needs in the face of recurring short term challenges
Help Grow Their Small Businesses
Bundle savings and credit features to offer access to capital to support business growth
Mobile Wallet Use
Offer new tailored services at the right price that take advantage of their familiarity with tech
This Kenyan Women Farmer segment analysis was completed through the support of Mercy Corps AgriFin Accelerate and Safaricom.