Research Brief - Practices and Possibilities in Savings Groups

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Title
Research Brief - Practices and Possibilities in Savings Groups
Author
Anne Marie van Swinderen; George Muruka; Grace Njorooge; Tricia Williams
Year
201409
Abstract
This article, commissioned by the Mastercard Foundation, explores the practices and possibilities of savings groups in Sub-Saharan Africa. It highlights that these member-owned, informal entities provide crucial basic financial services to individuals often excluded by mainstream institutions, with NGOs playing a significant role in their proliferation. The research reveals that savings group members have diverse financial needs and a strong interest in linking with formal financial institutions for deposit safety and access to credit. While many groups are already linked or desire to be, accessibility remains a challenge due to travel distances. The study also examines the potential of technology to drive innovation in areas like record-keeping and training, noting the willingness of members to pay for such solutions, although basic challenges like power access need consideration. Overall, the article emphasizes understanding and responding to the needs of savings group members to enhance financial inclusion.
Resource Subject
  • Savings and Loans
Keywords/Access Points
Savings Groups; Financial Inclusion; NGOs; Technology; Financial Linkages; Member Needs; Sub-Saharan Africa; Innovation
Geographic Locations
  • Africa
Language
  • English
Special Collections
  • Foundation Publications
Archival Record ID
MFA.2024.0772