Empowering women agriculture entrepreneurs: banks' role in achieving sustainable development goals

Adefare, Tomisin; Adeola, Ogechi; Mogaji, Emmanuel; Phong Nguyen, Nguyen; Alaba Mogaji, Stephen

Abstract

Purpose
This research aims to explore the role of banks in supporting women agriculture entrepreneurs (WAEs) to contribute towards achieving the Sustainable Development Goals (SDGs). It focusses on the experiences of women entrepreneurs in the agriculture sector, recognising their vital role in driving economic growth and achieving the SDGs.

Design/methodology/approach
The study utilises the role congruity theory and the feminist agri-food systems model as its theoretical framework. Qualitative data from 35 WAEs and 7 bank managers (BMs) responsible for agricultural financial services and business development are collected and thematically analysed to achieve the research objectives.

Findings
Although BMs claim they offer specialised financial products with dedicated support teams, WAEs express scepticism due to fears of unfavourable deals and excessive requirements. WAEs need more understanding of SDGs but recognise their substantial contributions. BMs acknowledge the need to enhance efforts, improve communication of offers and integrate SDGs across all business operations beyond agriculture and women-centric initiatives.

Practical implications
Banks must prioritise gender sensitivity and inclusivity for WAEs, offering tailored financial products and flexible loan structures. Microfinance and strategic marketing can enhance outreach. WAEs benefit from forming associations, accessing support networks, collaborating with banks, government agencies, non-governmental organisations and agricultural associations for mentoring and networking, and achieving the SDGs and sustainable agriculture.

Originality/value
The study connects WAEs and banks in achieving SDGs.

Citation

Adefare, T., Adeola, O., Mogaji, E., Phong Nguyen, N., & Alaba Mogaji, S. (2024). Empowering women agriculture entrepreneurs: banks' role in achieving sustainable development goals. International Journal of Bank Marketing, https://doi.org/10.1108/IJBM-03-2023-0128

• Journal Article Type: Article
• Acceptance Date: Dec 11, 2023
• Publication Date: Jan 5, 2024
• Deposit Date: Jan 10, 2024
• Publicly Available Date: Jan 16, 2024
• Journal: International Journal of Bank Marketing
• Print ISSN: 0265-2323
• Electronic ISSN: 1758-5937
• Publisher: Emerald
• Peer Reviewed: Peer Reviewed
• DOI: https://doi.org/10.1108/IJBM-03-2023-0128
• Keywords: Women entrepreneurs; Agriculture; Banks; Emerging economies; Developing countries; SDGs
• Publisher URL: https://www.emerald.com/insight/content/doi/10.1108/IJBM-03-2023-0128/full/html