Our goal: to support 50 million women and girls—and 65 million people overall—to join Savings Groups by 2030.
When fully scaled, this program will enable women to mobilize an estimated $15 billion each year, start new businesses, and gain access to more advanced financial services, all while building stronger communities by working together.
Background
The countries selected for this project—Malawi, Tanzania, and Nigeria—face many challenges, including:
- Chronic hunger and food insecurity
- High rates of HIV/AIDS
- Frequent natural disasters made worse by a changing climate
- Limited education, particularly for women and girls
- Youth unemployment despite growing economies
Savings groups offer powerful solutions to these issues, especially when adapted for young people and their specific needs.
Approach
With support from the Arthur M. Blank Family Foundation, CARE is focusing on three key strategies:
- In Malawi, we’re building on our successful work with Youth Savings and Loan Associations (YSLAs) to support education and economic growth for young people.
- In Tanzania, we’re combining financial services and entrepreneurship training to help young people start and grow businesses.
- In Nigeria, we’re helping women gain market access and strengthen their ability to respond to shocks and setbacks, building lasting economic resilience.
