The Kenyan Financial Diaries project found that many poor households prioritized savings over liquidity when it came to their household budgets. Many viewed this as the way to get out of poverty and secure a longer term future.
For governments, the collection of sex-disaggregated data begins a virtuous cycle, where its availability informs stronger, evidence-based policymaking and helps regulators evaluate the effectiveness of policies intended to promote financial inclusion.
More financial service providers are changing the way they do business and adopting a customer-centric model. What does that take? Hear from heads of companies who know - who took part in the CGAP Leadership Series on Customer Centricity.
Conventional measures of creditworthiness paint an incomplete — even misleading — picture of microbusiness owners, whose success often hinges on strong local networks and unconventional business strategies.
In our last post, we shared findings from the South African, Bangladeshi and Indian Financial Diaries that built the case for formal and informal financial services serving different purposes in the portfolios of the poor. We found that the two should be viewed as complements rather than alternatives to each other.