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Reaching Informal Savings Groups with Formal Financial Products: A Study’s Unexpected Findings Reveal the Challenges of Digitizing Transactions
Formalizing the financial activities of informal savings groups has long been a priority in financial inclusion. Since 2015, the Savings at the Frontier program has worked to deepen the relationships between these groups and formal financial service providers, on the assumption that this would lead group members to open individual accounts and reap the benefits of digital transactions. But as Raksha Vasudevan explains, the results of a program evaluation have challenged these assumptions. She explores these findings, and their implications for efforts to digitize informal savings groups.
- Categories
- Finance, Impact Assessment, Technology
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The Low-Hanging Fruit of Energy Access: Unlocking the Potential of Energy Efficiency Solutions for African Businesses
You’ve likely heard plenty of discussion of the approximately 600 million people who lack basic access to electricity in sub-Saharan Africa. But Adam Fitzwilliam at Camco Clean Energy points out that it's not just individuals who are energy poor: The region's business sector also needs access to reliable, renewable electricity. He explains why focusing on energy efficiency is one of the most cost-effective ways to address energy demand in the commercial and industrial sector, and explores why these efforts haven’t taken off yet in most sub-Saharan African markets.
- Categories
- Energy, Environment, Finance
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Using Blended Finance to Navigate the Pandemic: How an Innovative Funding Vehicle is Helping SMEs Survive COVID-19 and Advance the SDGs
Emerging economies' progress toward the Sustainable Development Goals (SDGs) is behind schedule, and COVID-19 has set their efforts back even further. Margi Goelz at Georgetown University and Bridget Bradley at Tetra Tech discuss the value of blended finance in closing these countries' estimated $2.5 trillion annual SDG funding gap. They explore how an innovative blended finance facility has helped a Kenya-based energy company navigate the pandemic and contribute to the SDGs, and how this approach can support other small- and medium-enterprises (SMEs) in emerging markets.
- Categories
- Coronavirus, Energy, Investing
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Getting Children Back to School: Lessons Learned from Uganda as it Ends the World’s Longest COVID-19 Shutdown
Uganda recently reopened schools after the world’s longest COVID-19 shutdown. Due to limited access to online education, most young people had not been learning for nearly two years – and officials estimate that roughly a third won't ever return to school. Atul Tandon and Andrew McCusker at Opportunity International explore the impact of pandemic closures on low-cost private schools in the country, discuss the particular risks of school closures for girls, and share three key lessons that can help schools successfully reopen and bring students back to the classroom.
- Categories
- Coronavirus, Education
- Tags
- COVID-19, gender equality, youth
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Financial Inclusion that Works for Women: The European Microfinance Award 2022
Lending to women clients has been at the center of microfinance since its modern inception. And as Joana Afonso, Gabriela Erice, Sam Mendelson and Daniel Rozas at the European Microfinance Platform point out, there has undoubtedly been progress in promoting women’s financial inclusion. But they argue that a myopic focus on outreach too often undermines the sector's understanding of the specific barriers women face. They discuss how the 2022 European Microfinance Award's focus on “Financial Inclusion that Works for Women" aims to encourage more effective gender strategies.
- Categories
- Finance
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Boosting STEM Training for African Women: Why Tech-Related Skills are Key to the Continent’s Progress
As the world becomes more reliant on digital technology, the importance of STEM (science, technology, engineering and mathematics) training is growing. But as Rachita Sharma at Girl Power Talk explains, there's a wide STEM skills gap between men and women – including in sub-Saharan Africa, where women’s lack of technical skills is undermining their capacity to achieve their economic potential. She explores some of the challenges that are preventing African women from pursuing STEM-related job skills or careers, and discusses some solutions to these issues.
- Categories
- Education, Technology
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Access Alone is Not Enough: Why a Holistic Approach is Necessary to Develop Lasting Energy Solutions
With about 800 million people lacking reliable electricity, energy access is one of the defining issues – and opportunities – of our time. According to Peter Weston at Energy 4 Impact and David Nicholson at Mercy Corps, that's what drove the recent merger of their two organizations. But as they explain, to unlock the full impact of energy access, it's important to ensure that people, businesses and communities can capitalize on it. They explore how a comprehensive market system approach can produce energy solutions that work for farmers, entrepreneurs and others.
- Categories
- Agriculture, Energy, Environment
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Deconstructing the Monolith: Why Understanding Women’s Individual Needs is Key to Closing the Gender Gap in Financial Inclusion
How can financial service providers tailor their products to boost women's financial inclusion? Scott Graham and Anahit Tevosyan at FINCA discuss the findings of a survey of 2,800 financial consumers in the DRC, which showed – perhaps counterintuitively – that focusing on gender as the defining characteristic of a female client is exactly the wrong approach. They explore why it's necessary to “deconstruct the monolith” of female clients by digging into sub-segments of the market to understand their specific needs and constraints.
- Categories
- Finance
