In September 2021, Fert called on the CERCAM, the Research and Study Center of the Crédit Agricole du Maroc, to provide financial education training to farmers in the Rich District in Morocco.

Fert, in collaboration with IECD Morocco, is supporting 450 fruit growers in the Rich district in improving the technical conduct of their orchards. After four years of support, the farmers’ practices have changed and their yields have improved. Today, the agricultural advisors raise farmers’ awareness of technical and economic issues in order to reason their choices and better manage their farm.

Financial education training was therefore offered to producers who were not well informed about financial and banking issues.

Farmers away from the banks

Most farmers do not have bank accounts, they are often suspicious of these institutions and do not see the benefit of using them. They have no knowledge of the savings and credit systems that could enable them to invest in their farms. They also do not generally have a good grasp of the financial aspects of their activity: they do not draw up a cash flow plan and do not ask themselves about the profitability of their practices.

Financial education lessons by the Crédit Agricole du Maroc Group

Originally, the Research and Study Center of Crédit Agricole du Maroc (CERCAM) was a center of expertise and reflection whose mission was to deepen and develop the knowledge of the Crédit Agricole du Maroc Group on the rural and agricultural world. Today, CERCAM supports rural development with a financial education program for agricultural and rural populations in order to strengthen their management capacities.

These training sessions, which last 2 to 3 hours, aim to demystify the banking institution, to be able to estimate and prioritize his/her investment objectives, to draw up a budget and to know the banking products and the savings methods adapted to his/her needs. The objective of the training is not to encourage farmers to open a bank account or to borrow money, but to provide them advice on how to solve the cash flow problems of their farm.

During the training, participants were exposed to several case studies. For example, they learned how to analyze each expense and loss from the activities in order to understand the origin of the unprofitability of their farm. This interactive approach helped create a climate of confidence and a better understanding of the farmers’ problems.

First participants appreciated these trainings. Other trainings are planned in the villages of the Rich district to benefit about 200 farmers.

Fert operates in Morocco in collaboration with IECD Morocco.

published on October 15, 2021.