FinTech solutions for sustainable agricultural value chains: A perspective from smallholder farmers

IF 4.8 Q1 BUSINESS Business Strategy and Development Pub Date : 2024-04-15 DOI:10.1002/bsd2.358
Md. Johir Rayhan, S. M. Masudur Rahman, Abdullah Al Mamun, Abu Naser Mohammad Saif, K. M. Anwarul Islam, Md. Mahabub Alom, Nusrat Hafiz
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Abstract

Smallholder farmers in developing nations face multifaceted challenges as they strive to secure fair prices for their agricultural products. With a primary focus on bolstering sustainable agricultural value chains (SAVC), this conceptual paper investigates the transformative potential of Financial Technology (FinTech) solutions. The study synthesizes insights from prior research on SAVC, hurdles faced by smallholder farmers, conventional strategies, and the untapped prospects offered by FinTech solutions in the agricultural sector. Utilizing the PRISMA strategy for comprehensive documentation retrieval, the study underscores the significance of creating a robust SAVC to empower smallholder farmers within the broader value chain landscape. It is found that Agri-FinTech solutions represent a pivotal avenue for advancing living standards and cultivating agricultural sustainability in developing nations. The integration of FinTech solutions for agri-credit mechanisms and product market facilitation catalyzes enabling pre-production financing and ensures fair prices for smallholder farmers in the post-production phase while neutralizing the value chain's exploitation potential. The study advocates for the expeditious adoption of information technology in developing countries, spotlighting the transformative role of Mobile Financial Services (MFS), which fortifies the agriculture sector, ensuring its resilience and responsiveness to the evolving demands of a globalized market. Drawing upon an evaluation of existing literature on FinTech-enhanced agricultural initiatives in developing nations, the study outlines directions for future research and creates a path for a more nuanced understanding of the strategic enhancements necessary to fortify the SAVC, fostering a sustainable and equitable ecosystem for smallholder farmers.

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可持续农业价值链的金融科技解决方案:小农视角
发展中国家的小农在努力为其农产品争取公平价格的过程中面临着多方面的挑战。本概念性论文以支持可持续农业价值链(SAVC)为主要重点,探讨了金融科技(FinTech)解决方案的变革潜力。本研究综合了先前对可持续农业价值链的研究、小农户面临的障碍、传统战略以及金融科技解决方案在农业领域尚未开发的前景的见解。该研究利用 PRISMA 战略进行全面的文献检索,强调了在更广泛的价值链格局中创建一个强大的小农户融资和资产管理中心以增强小农户能力的重要性。研究发现,农业金融科技解决方案是提高发展中国家生活水平和促进农业可持续发展的重要途径。将金融科技解决方案与农业信贷机制和产品市场便利化相结合,可促进生产前融资,确保小农在生产后阶段获得公平的价格,同时中和价值链的开发潜力。本研究倡导发展中国家尽快采用信息技术,强调移动金融服务(MFS)的变革作用,它加强了农业部门,确保其复原力和对全球化市场不断变化的需求的响应能力。本研究通过对发展中国家金融科技促进农业举措的现有文献进行评估,勾勒出未来研究的方向,并为更细致地了解加强小农农业和农村发展所需的战略改进、为小农培育可持续和公平的生态系统开辟了道路。
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来源期刊
Business Strategy and Development
Business Strategy and Development Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)
CiteScore
5.80
自引率
6.70%
发文量
33
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