Programme partner banks and experts shared project successes reached so far
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>> Read: Scale2Save research on African young people
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BRUSSELS, 28 November 2019 – Some 40 people from three continents came together in mid-October in Washington for the one-and-a-half-day Scale2Save Peer Review Workshop. Designed to help make small-scale savings work for millions of people in Africa, project partner banks and experts shared successes reached so far and the challenges ahead.
Day 1 looked at the need for more client activity. It began with stocktaking and benchmarking of the projects within the Scale2Save programme. It also included a talk on achieving targets set out by the nine innovative projects in six countries - Morocco, Senegal, Côte d'Ivoire, Nigeria, Unganda and Kenya.
Day 2 featured breakout sessions on change management with senior bank executives (see picture at right) from participating project banks and guest speakers from WSBI members TPB Bank pls and Fedecredito as well as on the drivers of the business case with project managers. Executives learned that legitimacy and quick wins are key for driving change, project managers learnt that the viability of small scale savings needs to take into account the entire business model of the financial service provider. Senior managers looked at how pricing models boost demand, drivers for viable business model for low-income people. They also explored the role technology plays in serving this group. They also looked at ways product bundling and channel mix to make their business models viable.
A “fishbowl" exercise followed, looking back at exchange during the World Bank UFA Roundtable held the day prior, Scale2Save research on African young people and a soon-to-be-released update of “Retail Banking in Africa". A rich discussion, the young people research drove much of the debate. Participants also looked at children having access to accounts, through a structured programme with schools and parents.
Scale2Save Programme Director Ian Radcliffe (pictured left, second from right) closed out the event, saying there is pressing need for more activity on accounts within Scale2Save projects. Challenges persist on that front, but ideas shared at this workshop can help address them.
Below is a learning series comprised of four briefs linked below that summarise key discussion items and learnings from the Scale2Save Peer Review Workshop held in October 2019 in Washington, D.C.
Itad developed these briefs in collaboration with Scale2Save as part of the Savings Learning Lab activities.
>> Brief 1: Account activity: Drivers and strategies
>> Brief 2: Cost and income drivers for sustainable business models
>> Brief 3: Current financial service provision for young people and what needs to be done moving forward
>> Brief 4: Change management