Innovation for Financial Inclusion
Freedom from Hunger is building the capacity of one MFI, ALIDé, to interface with existing mature savings groups and capture group savings in a specialized MFI account using mobile money to bridge the gap between the rural poor and access to formal financial services. The project combines a proven community-based savings model and a financial literacy curriculum using mobile-learning tools to reduce transaction costs for both clients and ALIDé. Specifically, the project will: (1) Adapt Freedom from Hunger’s successful savings group engagement strategy for MFIs (2) Equip ALIDé to identify and engage with existing, mature savings groups and collect savings deposits at scale in rural areas as part of a core business strategy. The project aims to demonstrate how technology can revolutionize community-managed savings group promotion and provide a more efficient model for delivery of savings services and financial education—and that savings-led approaches are feasible and beneficial for MFIs while providing tangible benefits to underserved populations.
- Economic Recovery and Development
- Capacity Strengthening for CSOs (general)