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Participatory Savings And Borrowing For Start-Up And Recapitalization Needs: Farmers Experience In Nigerian Agricultural Cooperatives And Rural Development Bank (Nacrdb) Abia State, Nigeria


CO Emerole
IC Nwosu
Jc Olajede

Abstract



This study of Farmer cash savers and borrowers was conducted in 5 branches of a formal small farmer-centered credit institution- the Nigerian Agricultural Cooperatives and Rural Development Bank(NACRDB) in Abia State, Nigeria. Thirty-two (32) farmers who had mandatory savings with the bank were involved. The savings rate across the branches averaged 8.33% but the borrowing rate was as high as 75.18% across the bank branches. A relatively higher proportion of the loans served re-capitalization purposes than start-up needs of the participants/beneficiaries .Experienced farmers with on-going projects were more prepared to manage credit facilities and should be considered for more loans whenever they meet up with the conditions for such new contracts.

Keywords: Participation, Start-up needs, Re-capitalization needs.

Journal of Agriculture and Social Research Vol. 8 (1) 2008: pp. 89-94

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eISSN: 1595-7470