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.
Savings Groups and their Role in Child Wellbeing: A Primer for Donor
Savings groups (SGs) are a type of economic strengthening (ES) intervention for poor households. They are now very widespread in their outreach and implemented by nearly all major development organizations. CARE implements savings groups in 38 countries, with over 4 million group members. Catholic Relief Services has 1.35 million members in 37 countries, while Plan International reaches 1.16 million members in 26 countries. Oxfam’s Saving for Change program has 650,000 members in 12 countries. In total, there are nearly a million members in Asia, 340,000 in South America, and 9 million in Africa. Worldwide, savings groups reach over 10 million members in 70 countries.
This document incorporates findings from recent impact evaluations and other research on savings groups with promising practices from field implementation. The document draws on research from the STRIVE (Supporting Transformation by Reducing Insecurity and Vulnerability with Economic Strengthening) program, as well as from other projects.