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CARE Tanzania and CARE Ghana Add New Banks to the MicroLead Family
Congratulations to CARE Tanzania and CARE Ghana, which both added new banks to their MicroLead saving group (SG) linkage projects!
In Tanzania, CARE has begun working with the National Microfinance Bank to expand their SG linkage work to two districts, Hai and Rombo. These are districts where its current MicroLead partner, Mwanga Community Bank (MCB), does not have service centers. To date, NMB has linked 35 SGs in Hai and Rombo. Together with MCB, the MicroLead outreach target is to financially include 50,000 SG members in 2,000 SGs in the Kilimanjaro region by January 2017.
In Ghana, CARE has added GN Bank and Sinapi Aba Savings and Loans to their existing partnership with Fidelity Bank. “Due to network and other challenges faced by Fidelity Bank, it was obvious that we would not achieve our targets solely through Fidelity Bank,” says Noel Da’Cruz of CARE Ghana. “We therefore brought on board the other banks who have more visibility in our operational areas.”
With these new partnerships, CARE Ghana will increase the number of SG linkages and expects to exceed their linkage target of 1,200 SGs and 30,000 members.
About MicroLead
MicroLead is a UNCDF-managed global initiative challenging regulated FSPs to develop and roll-out deposit services which respond to the rural vacuum of services. With the generous support of the Bill & Melinda Gates Foundation, The MasterCard Foundation and the LIFT Fund in Myanmar, MicroLead works with a variety of FSPs and technical service providers to reach rural markets, particularly women, with demand-driven, responsibly priced products offered via alternative delivery channels such as rural agents, mobile phones, roving agents, point of sales devices and group linkages. This is combined with financial education, so customers not only have access but can effectively use quality services.
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Keywords: Tanzania, Ghana, savings, savings groups, financial inclusion, MicroLead
