Antonique Koning, a microfinance specialist at CGAP, blogged about our work on selling monetary inclusion for low-income girls in Nigeria via the usage of financial savings merchandise and modern outreach and supply methods. Excerpt beneath:
Whereas most of those girls are conversant in the services and products of banks, many don’t contemplate them acceptable for his or her wants. And even when they’ve a checking account they usually choose the agility and comfort of casual mechanisms which might be widespread in Nigeria, like financial savings collectors (e.g. alajo, akawo) or financial savings teams (e.g. Esusu). In partnership with Ladies’s World Banking, Visa and EFInA, Diamond Financial institution developed a easy financial savings product referred to as “BETA” that borrows some options from these casual companies: the service is supplied on the doorstep by a service workforce, there are not any minimal balances or hidden charges, and weekly prizes are awarded. “BETA” affords a low value banking service with out requiring the standard paperwork, ID and references. Account opening is instantaneous. With a photograph and fundamental information captured via a cell phone software shoppers obtain their account quantity and PIN by way of SMS and a starter pack with ATM card.
Hyperlink: “Banking on Together with Ladies in Nigeria“
