Connecting the World’s Poorest People to the Global Economy

The importance of expanding access to financial services for the world’s poorest people is increasingly recognised, but despite the growing international attention to the issue, numerous barriers remain. A key challenge has been finding cost-effective ways to connect the millions of people who participate in informal community savings groups to banks and other financial institutions. Over the past four years, CARE has tested eight innovative models for linking informal savings groups with companies in five African countries, with exciting results that could help connect the developing world’s remaining “unbanked” populations with the formal global economy.