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Updated: 16 October 2017 (Replaced image)
BRUSSELS, 29 May 2017 – WSBI updated this week its information webpage on the Making Small Scale Savings Work programe, a partnership between WSBI and the MasterCard Foundation to help boost financial access and economic development in seven African countries.
The page includes specific information about the program, partners' information and contacts.
The Making Small Scale Savings Work program aims to establish the viablility of small-balance savings accounts.
The new program will test and apply new business models arising from economic analysis around price sensitivity and demand, targeted on low-income unbanked segments, aiming to reduce the incidence of dormancy and inactivity in banks’ customer bases.
It will help existing partner banks in three African countries – Kenya, Morocco, Uganda – reach scale and sustainability with their low balance accounts and support up to four new West African partner banks to dramatically increase savings amongst these segments in their countries – Cote d'Ivoire, Mali, Nigeria, Senegal.
The program builds on previous work aimed at doubling the number of savings accounts for low-income people at partner banks in 10 countries.
The work is important because sustained access to and use of savings mechanisms contribute to the well being of customers.
About The Mastercard Foundation
The Mastercard Foundation works with visionary organizations to provide greater access to education, skills training and financial services for people living in poverty, primarily in Africa. As one of the largest, private foundations, its work is guided by its mission to advance learning and promote financial inclusion to create an inclusive and equitable world. Based in Toronto, Canada, its independence was established by MasterCard when the Foundation was created in 2006. For more information and to sign up for the Foundation's newsletter, please visit www.mastercardfdn.org. Follow the Foundation at @MCFoundation on Twitter.