Scale2Save project experts convene in Mombasa for programme's first peer review workshop
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>> Read Scale2Save 2019 report
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MOMBASA, 19 March 2019 – More than 40 banking experts from banks and organisations focused on Africa convened from 19-21 March to discuss how African banking can better address make small-scale savings work. The gathering brought experts for a three-day workshop to share learning as part of the Scale2Save programme – a partnership between WSBI and Mastercard Foundation to establish the viability of small-scale savings in Africa.
Day 1 tackled the results of a new report by WSBI on savings and retail banking in Africa that shows the struggle banks face with customer centricity – the ability to provide people with products and services that they will take up and use based on need. The Scale2Save programme report pulls data from dozens of WSBI member banks on the continent on how banks are tackling how savings by people in the region can be made more usable, affordable, accessible and sustainable through better understanding what people want from their bank to spur savings activity at local level from cities to village and everywhere in between. Three panel session scheduled look at creating value through customer experience, making digital channels work for financial service providers as well as the business case for linkage banking, a way of connecting banks and people at grassroots level.
The event kicked off with opening remarks from Scale2Save Programme Director Ian Radcliffe (pictured left) presented results of the Scale2Save report. He was followed by PostBank of Kenya Managing Director Anne Karanja, who explained the importance of finding a viable way for savings to thrive. Following Mrs. Karanja's remarks, a first panel looked at customer centricity and how best to address the gap between what customer needs and what banks provide. A second panel explored digital aspects of savings, and how importance of knowing how the poor save, use and move money. A third final panel took a deep dive into linkage banking, a way for banks to connect with savings mechanisms like village savings group
Day 2 took a first-hand look at how PostBank in Kenya is serving the poor in Ukunda County, with visits to agents and savings groups. Day 3 had breakout sessions on business models for savings groups and how best to manage third-party partnerships such as with Mobile Network Operators.
The next Scale2Save Peer Review Workshop is scheduled for October in Washington.
>> Learn about, read Scale2Save report