Determinants of Savings and Capital Accumulation among Rural Women Farmers in Ganye Local Government Area of Adamawa State, Nigeria

This study examined the determinants of savings and capital accumulation among rural female farmers in Ganye Local Government Area of Adamawa State. A multi-stage random sampling technique was used to select 100 rural female farmers. Data were analyzed with the use of descriptive statistics and the multiple linear regression analysis. The study showed that the mean age of farmers in the study area was 37years with mean household size of 11 persons. The mean farm size is 0.74 hectares with a mean annual income of 45, 0000 Naira. The result also showed that majority of the rural farmers save or accumulate capital in non-monetary form as a strategy of saving and are motivated to save in order to increase production. The result of the multiple regression analysis showed that farm cash income, non-farm cash income, total farm output and nearness to local market had a significant positive influence on the rural female farmers volume of savings and accumulation of capital, while, household size had a significant negative influence on the farmers volume of savings. It is therefore the recommendation of the study that to further improve on rural farmers savings in the study area, the government should make credit available by empowering formal and informal financial institutions activities in rural areas. The study recommended that Government, stakeholders and policy makers should provide incentives in the form of shortand medium-term loans to enhance the productivity and income levels of the rural female farmers. Also, informal savings institution like the Asusu club should be allowed to register with the state ministry of commerce and industry

Keywords:Savings; Capital accumulation; Rural female farmers; Agricultural credit