Scale2Save case study: mobile financial services

Scale2Save Campaign

Micro savings, maximum impact.

​​​​​​​Explores the potential of mobile financial services for low-balance account holders. Part of Scale2Save's annual State of Savings and Retail Banking in Africa research series.​​

​​​BRUSSELS, 29 March 2021 – A new case study​ from Scale2Save in partnership with FinMark Trust​ benchmarks the impact and potential of mobile financial services in several low-income markets in Africa. Released this week, the study identifies key considerations for financial service providers (FSPs) aiming to either introduce mobile services or expand their mobile offerings.

The study features examples of FSPs in Africa, including smaller institutions crafting innovative and beneficial services. These show mobile financial services have potential for all FSPs and their customers. In order to meet market needs, mobile money may play a role, but providers do not necessarily need mobile money to become a mobile service provider. Mobile banking might as well be a meaningful option​.

Following two annual publications in 2018 and 2019 of the State of Savings and Retail Banking in Africa research series, this is the second in a series of case studies that focus on innovations and partnerships to deliver on financial inclusion in Africa.

Mobile money and financial inclusion

In most of sub-Saharan Africa, improving financial inclusion has been driven by the adoption of mobile money. Mobile money operators have cornered most of the growt​h in accounts. Mobile money aids gender equality: though a majority of account holders are men, the gender gap is smaller than for traditional accounts.​

Covid-19 accelerates mobile-led growth

The Covid-19 pandemic has accelerated pre-existing, mobile-led growth in digital financial services. Though lockdowns have constrained economic activity, they have encouraged a surge in mobile money transactions, as users switch to electronic payments.

Outlook for mobile money in Africa

Institutions deploying new services must look carefully at each market, the role and position of other mobile FSPs, the underlying needs of customers, and the extent to which these needs are being met. FSPs can win significant advantages for themselves and for low-income customers by positioning services to address particular customer needs and marketing products effectively.


Single European Access Point for Financial and Non Financial Information

ESBG welcomes the opportunity to comment on the European Commission's proposal to establish a European Single Access Point (ESAP).

This tool was already listed as one of the sixteen actions to carry out in the framework of the Capital Markets Union. The ESAP has been designed as a very ambitious tool with the aim of collecting financial and non-financial information. ESBG members would like to highlight the need of taxonomies regarding non-financial information. Companies already make an important effort to comply with all reporting’s required at international and national level. Although the Commission mentions in the consultation document that ESAP is a voluntary tool, ESBG believes it is very important to emphasize this feature and in a first stage it should be configured as a voluntary tool.




Scale2Save celebrates International Women's Day

Scale2Save Campaign

Micro savings, maximum impact.

In honour of International Women's Day, discover how four Scale2Save partners are empowering women and reducing the financial inclusion gender gap in Africa.

BRUSS​ELS, 8 March 2021 – International Women’s Day​​ presents an opportunity for Scale2Save and its partners to showcase their stories. That includes how partners serve and empower women through their projects.

Scale2Save project partners have provided Scale2Save with stories to be shared on the day as part of the programme’s aims to raise awareness around the need to mobilise savings among – and strengthen the resilience of – low-income populations. That includes financially excluded women​​. 

There is interest from governments, NGOs and international bodies to learn more about how financial institutions address the needs of women. For example, financial inclusion is featured as a target in eight Sustainable Development Goals.


First City Monument Bank: NigeriaPostbank: KenyaFINCA: UGANDALAPO Micr​ofinance Bank in Nigeria​