Promoting Inclusive Markets and Financial Systems
The MasterCard Foundation works with visionary organizations to provide greater access to education, skills training and financial services for people living in poverty, primarily in Sub-Saharan Africa. As one of the largest, independent foundations, its work is guided by its mission to advance learning and promote financial inclusion in order to alleviate poverty. Based in Toronto, Canada, its independence was established by MasterCard when the Foundation was created in 2006. For more information, please visit www.mastercardfdn.org or follow us on Twitter @MCFoundation.
How SILC Member Use Their Money: A Study of SILC Fund Use in Zambia
There is much anecdotal evidence to suggest participation in savings and internal lending communities (SILC) helps members to meet key household needs. However, there is little information on exactly how members are using SILC funds and how these uses improve their livelihoods. This product-use study provides insight into exactly how members are using the three primary SILC funds (loans, social fund, and savings at share-out), how these uses are affecting livelihoods and how SILC group members perceive the funds.