At the end of March, Sofie Blakstad presented the work that we’re doing in Niger, alongside Line Gamrath Rasmussen from CARE Denmark, at the Financial Inclusion Summit in Oslo.
Here’s the video of the session:
Here are the slides that were presented:
Want to read more about the project we’re doing in Niger or our work on financial inclusion? Why not read this other content on the site:
- Connecting with the female entrepreneurs in Niger
- What is Financial Inclusion and why is it important?
- hiveonline Community Finance solutions
hiveonline is working with CARE in Niger to bring access to financial services to unbanked communities. CARE created the Village Savings and Loans Association (VSLA), started in Niger in 1991, which now has 600,000 members in Niger and 10 million worldwide.
VSLA groups of 10-20 members, mostly women, contribute a small amount to a savings pot every week. That fund is then used to lend to members and support a social fund for emergencies. The amounts saved are small, so not large enough to boost the women’s business ambitions. Microfinance Institutions struggle to lend to these women because of logistical and KYC challenges. The women manufacture goods such as cosmetics and foods to sell on local markets, and would like wider market access.