Stakeholder survey: financial inclusion of Zambian smallholder farmers
From November 2021 to June 2023, the commercial bank AB Bank Zambia (ABZ) implemented a SSNUP-sponsored project with impact investor Symbiotics to improve financial inclusion in rural Zambia. This was achieved through branch openings, staff training, improved loan assessments, agri-partnerships and radio outreach - enabling over 5,000 clients to access services, approximately 77% of whom were smallholder farmers who obtained loans via the bank’s mobile wallet platform eTumba.
In collaboration with Symbiotics, SSNUP conducted a perception survey among 285 ABZ customers to provide an in-depth understanding of the effects of the technical assistance project on both the bank and the smallholder farmers, the final beneficiaries of the SSNUP programme.
The survey came to the following conclusions:
- Agricultural loans have a clear positive impact
A striking 92% of customers who used loans for agricultural purposes report an improvement in their quality of life. Furthermore, 87% state they cannot find a suitable alternative to these services, pointing to both the effectiveness of the loan products and a gap in the market that few providers currently address.
- There is a strong demand for agricultural finance through general loan products
Nearly 45% of regular (non-specialised) loans are used for agriculture-related activities, underscoring strong demand for financial support in the sector. This trend suggests that customers often prefer general or microloan products over specialised agricultural or climate-smart loans - likely due to their greater perceived accessibility, simplicity or flexibility.
- Financial platforms are used to access credit
Access to loans emerges as the primary reason customers engage with financial services platforms. This emphasises the central role of credit offerings in attracting and retaining users, making loan access a critical component of platform relevance and usage.