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Promoting Inclusive Markets and Financial Systems

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Current and Potential Partners: Case Studies

CASE A. (FINCA Uganda)
  • Current Partnerships
FINCA Uganda has close relationships or informal partnerships with local community leaders and opinion leaders. Involvement with these entities gives FINCA access to parents, guardians/mentors, and finally youth, both in and out of school. When community leaders got to know FINCA’s work and how its project can help youth, they saw the project as a benefit to the community and offered support. Steps to create these partnerships:
      • Clear marketing and awareness-raising. This may require meetings at many different levels.
      • Facilitation for community leaders’ involvement should be considered.
      • To  make the terms of the partnership explicit, a memorandum of understanding (MOU) may need to be created.
  • Potential Partners
New partnerships are being studied, particularly with the government and with youth-serving organizations that cater to both out-of-school and in-school youth within FINCA’s target group. Steps toward realizing these potential partnerships:
      • Lobby for the government’s support through prominent people who influence policy. This will ensure that initiatives specifically addressing youth issues are not generalized when regulations are made.
      • Build awareness of youth organizations within the community to achieve buy-in for the project or product.
      • Use facilitation to get potential partners interested in pushing forward the project’s initiatives within the community.
      • Develop formal MOUs addressing both partners’ interests.
  • Challenges: The reason why some youth organizations are not interested in getting involved with a financial organization’s youth projects can stem from the bad reputation of other financial institutions. As a result, this organization now has as a major task in differentiating itself from other financial institutions and from past practices.
CASE B. (FINCA Uganda)
  •  Current Partnerships
FINCA also has partnerships with local leaders who mobilize other key stakeholders, such as parents, to buy into FINCA’s initiative of providing savings services to their teenage girls. The local leaders endorse FINCA’s activities and build positive advocacy for the project within their communities. They have also been able to create awareness and relevance of FINCA branches within their communities, something that has enhanced FINCA’s corporate image. The major challenge of this partnership is that these local leaders often come to expect considerable remuneration for mobilizing other stakeholders.
  • Potential Partners: FINCA is considering partnering with NGOs or church youth to scale up outreach.
CASE C  (Freedom from Hunger)
  •  Current Partnerships:
Freedom from Hunger has partnerships with two cooperatives inEcuadoras well as the Plan International –Ecuadorprogram. The cooperatives are the entities that will be providing formal financial services to youth (mainly in the form of savings products). Each partner adds value in different ways:
      • Plan contributes its expertise working through a community-based approach with youth and adolescents in Ecuador.
      • Freedom from Hunger provides its methodology of integrated services and expertise in financial education.
  • Steps followed to reach good partnerships:
- Spend time from the beginning to truly understand the expectations of the partners, as well as their constraints. - Spend time with the organization, visiting with their clients and their staff. CASE D (Enlace) Potential Partners: In El Salvador, Enlace and Catholic Relief Services are looking for an alliance with an NGO or government organization. The objective of such a partnership would be to provide affordable and effective financial literacy training to some of the stand-out youth in savings groups. The steps they are following are:
      • Look for the curriculum format that is most appropriate for youth in El Salvador.
      • Analyze the extent to which such training is effective in helping students budget their savings or manage micro-businesses.
      • Develop a system to identify which youth would qualify for training.
CASE E (Hatton National Bank)
  •  Current Partnerships:
HNB has been very closely working with public and private schools to inculcate the habit of savings in children at very early age. Partnerships with schools have been a strong link for communicate with youth.
  • Potential Partners:
HNB seeks to partner with the Central Bank of Sri Lanka and the Ministry of Education, which it hopes will officially endorse financial education/savings at the primary education stage. This would bring better results both in quality and in volumes, and create an official avenue for institutions to provide financial education through schools.

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