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 Africa. As one of the largest private foundations its work is guided by its mission to advance learning and promote financial inclusion to create an inclusive and equitable world. Based in Toronto, Canada, its independence was established by Mastercard when the Foundation was created in 2006. For more information and to sign up for the Foundation’s newsletter, please visit www.mastercardfdn.org. Follow the Foundation at @MastercardFdn on Twitter.
This report addresses the following core questions:
- What is the estimated rate at which project groups are replicating?
- Why and how do replicated groups form?
- How does the performance of replicated groups compare with that of project groups?
- What do members of replicated groups report about their experience?
- What does membership in multiple groups tell us about replication and the VSLA/SILC model?
Our data collected from 20 project groups and 46 replicated groups produced the following key findings:
- We documented the existence of 1.99 replicated groups, on average, for each project group.
- Among replicated groups, more were self-formed (25) than formed with the help of an agent (15).
- Replicated groups performed similarly to project groups, with some differences that are worth y of further study.
- Members of replicated groups reported major benefits and expressed broad satisfaction with saving, borrowing, and purchasing assets. However, a few examples of unwise decision making suggest the need for ongoing training.
- Further research is needed on the phenomenon of membership in multiple groups and its implications for the VSLA/SILC model.