Half a million rural households in Burkina Faso, Senegal, Uganda, and Zambia have taken development into their own hands

PHOTO BY JENNIFER HUXTA/MASTERCARD FOUNDATION

What is the Expanding Financial Inclusion in Africa Project?

The core goal of EFI is to help vulnerable households improve their resilience to acute and chronic shocks, by providing them with the tools and skills they need to save and borrow money, and thereby to acquire useful lump sums that can be invested in income-generating activities or to meet household needs. The EFI project does so by promoting CRS’ Savings and Internal Lending Communities (SILC) methodology.

User-owned, self-managed, accessible, transparent
and flexible.
SILC groups thrive in rural and remote settings beyond the reach of
formal financial institutions.

EFI RESULTS

842
certified PSPs

20,273
groups

Number of members
543,220

76% of members are
women

<1%
dropout rate

Average loan
$32

Annualized
member savings
$64

Return on savings
28%

IMPACT OF OUR SAVINGS GROUPS

RESEARCH STUDIES

PHOTOS BY JENNIFER HUXTA/MASTERCARD FOUNDATION

READ MORE ABOUT SAVINGS AND LOANS GROUPS IN AFRICA

EFI Shares Project Learning with Webinar Participants: A Review of the Webinar and Access to the Materials

By: CRS_EFI

The webinar audience was engaged and asked questions about the PSP methodology, the different methods used for poverty analysis, and how the poor manage to save? This blog provides an overview of the webinar that EFI presented, and provided links to resources that provide in-depth information on the content covered.

Savings Groups and Reaching the Very Poor: Insights from Expanding Financial Inclusion in Africa

By: CRS_EFI

The EFI team will share key learnings from EFI’s research agenda, including: A mixed-methods approach to developing a Pro-Poor Package and measuring poverty outreach, an innovative use of the Financial Diaries in Zambia with both SILC and comparison households, challenges of the mobile money pilot in Uganda with MNOs and Commercial Banks, and a breakthrough in post-project sustainability as a result of the PSP model.