Financial Inclusion and Access to Finance for Agrifood SMEs in the Central African Republic: Determinants and Constraints

Abstract

This study analyzes the determinants associated with external financing for small and medium-sized enterprises (SMEs) in the agri-food sector in the Central African Republic, with a focus on financial inclusion through credit. It is based on a cross-sectional quantitative survey conducted in June 2026 among 234 SMEs, randomly selected from a population of 600 enterprises located in Bangui, Bimbo, and Bégoua. The self-reported data were analyzed using a multiple linear regression model estimated via ordinary least squares, incorporating HC3 robust standard errors. The model yields an adjusted coefficient of determination of 0.720. The results indicate positive associations between the share of external financing and access to credit (+11.86 percentage points), the availability of collateral (+16.32), and the frequency of credit usage (+2.17). Conversely, liquidity (-4.32) and information asymmetry (-2.88) show negative associations. However, these findings should be interpreted with caution, given the cross-sectional and self-reported nature of the data, as well as the conceptual overlap between access to credit and external financing, which precludes the establishment of causal relationships. Further examination is warranted regarding guarantee mechanisms, financial reporting, and credit services tailored to the needs of agri-food SMEs, without presupposing their effectiveness.

Classification JEL : G21, G32, O16

Paper type: Empirical Research