Transforming agribusiness in developing countries: SDGs and the role of FinTech

Abstract

Transformation of agribusiness is critical in light of the Agenda for Sustainable Development. FinTech and the integration of FinTech with other (green) technologies as well as with digitized agriculture plays an important role when it comes to, for example, SDG 12, specifically, responsible production, as it can mitigate trade-offs and enhance synergies between environmental and social SDGs, for example, 1 and 15, increasing profitability without additional use of natural resources. Important limitations and risks need to be addressed, however, for developing countries to fully benefit from the potential that FinTech holds in this context. Mitigating factors include massive infrastructure investments and large-scale capacity building. Rigorous research on economic sustainability and cost-effectiveness of newer FinTech models is needed to make sound policy recommendations.