Group Savings from Theory to Practice: UGAFODE's Groupsave - Considerations for financial service providers

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Title
Group Savings from Theory to Practice: UGAFODE's Groupsave - Considerations for financial service providers
Author
MEDA; UNCDF; Justina Li; Jennifer Ferreri
Year
2018
Abstract
This document explores the challenges and opportunities of transitioning informal savings groups in Uganda into formal financial systems, focusing on low-income rural communities. It examines UGAFODE, a microfinance institution, and its efforts to mobilize savings and provide broader financial services through the introduction of GroupSave, a new product aimed at offering a safe place for group savings. The document highlights the support UGAFODE received from partners like UNCDF’s MicroLead program, MEDA, and others to develop and pilot the product, along with the barriers encountered, such as low customer adoption and dormant accounts
Resource Subject
  • Finance and Banking
  • Financial Inclusion
  • Financial Services
Keywords/Access Points
UGAFODE; microfinance; mobilize savings; financial services; GroupSave; UNCDF’s MicroLead program; MEDA; barriers
Geographic Locations
  • Uganda
Language
  • English
Special Collections
  • Knowledge Exchange Resources
Archival Record ID
MFA.2024.0871