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 study aimed to evaluate the current FE curriculum used by SaveAct and its delivery to SCG members to help SaveAct in identifying and adapting the program to be more effective through a design and implementation evaluation.
This comprehensive report presents the consolidated findings gathered during field research and an assessment of SaveAct’s FE against global best practices. These serve to inform comprehensive recommendations and an implementation plan for improvements to the organisation’s FE efforts.
SaveAct provides a savings-led savings and credit model (SCG) to rural and peri-urban communities in KwaZulu-Natal and the Eastern Cape in South Africa with the aim of smoothing household consumption, building assets and providing members with the opportunity to escape the debt spiral. The SaveAct methodology is built on three pillars, namely the establishment and facilitation of SCGs, financial education (FE) and enterprise development training. The FE is provided to members by community-based promoters (CBPs) who also facilitate the SCG meetings. The goal of the FE component is to build the capacity of SCG members to be better financial planners and directly complements SaveAct’s savings and credit model.
The report can be accessed through this link: