Browse by Theme: Financial Inclusion

Since 2011 the Ugandan government has taken steps to double the number of adults accessing formal financial services from 28% in 2009 to 54% in 2013. However, 2.6 million adults remain excluded (15% of the adult population). This CARE International policy brief sets out how Uganda can capitalise upon existing good practice and innovation to become a leader in increasing access to formal finance in the East African region.

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A short, step-by-step guide to linking informal savings groups to formal financial services, including principles, recommended stages, examples and how-to advice.

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This paper outlines CARE’s recommendations towards the G20 summit on 15-16 November 2014. The briefing paper focuses on issues of gender equality, climate change, financial inclusion, the Sustainable Development Goals, and the fight against Ebola.

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This report provides a comprehensive overview of the EMPHASIS (Enhancing Mobile Populations’ Access to HIV/AIDS Services Information and Support) project, a 5-year project implemented in India, Nepal and Bangladesh addressing cross border mobility-related vulnerabilities, using an HIV lens and with a specific gender focus.

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Despite the many benefits that CARE’s Village Savings and Loans schemes bring to poor communities, they are not a panacea. As groups mature they seek the security of a bank account, or wish for larger loans than the group can provide. This report looks at eight different models that CARE has explored to connect savings groups with formal financial services. Including Barclays, Vision Finance, Vodacom and Mwanga Community Bank, Orange and Equity Bank and Jubilee Insurance.

High uptake of savings, credit and insurance products have allayed concerns that products might prove too expensive for very poor communities. A total of 4,200 groups, or 105,000 individuals have been linked to the new products developed. Businesses too are benefitting, with increased customer bases and strong repayment rates. The report does recognise however, that overall transaction costs of linking savings groups to formal institutions remains high, albeit mobile banking offers opportunities to reduce this cost. The report also recommends that customer protection must be maintained. It outlines a set of ‘Linkage Principles’ that CARE has designed to help guard their interests.

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This report by Banking on Change partners Barclays, CARE International and Plan UK examines the barriers to financial inclusion in developing countries. It also looks at the potential boost to the global economy that large-scale financial inclusion represents, estimating that developing countries could receive a yearly savings boost of up to $145bn if the 2.5 billion adults worldwide who are ‘unbanked’ participate in savings-led microfinance. The report also calls for financial inclusion to be a key part of the post-2015 development agenda.

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This review focuses on the potential for the savings-led microfinance (MF) movement in sub-Saharan Africa to close an important gap in MF so that all poor people can access the financial products and services.

The three sections include (1) taking stock of where the savings-group (SG) movement fits within the larger MF sector and what different facilitating agencies (FAs) are doing in SG programming and where; (2) assessing program integration, in which SGs are implemented with other development programs, and linkage, in which SGs can opt into the formal financial sector; and (3) urging advocacy for changes in financial regulatory systems.

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