Across rural Africa, communities lack the understanding and tools necessary to increase economic prosperity.
Too often, the only source of desperately needed quick cash is high-interest micro-loans. Availability of financial education is limited and loan proceeds are typically consumed instead of invested. The result is no additional income, loan defaults, loss of collateral and a further fall into poverty.
To mitigate these effects we train rural households and businesses, mostly living below $3.20 per day, to save and invest in childhood education, farming, business and other income generating opportunities.
The result? 50% of SmartMoney customers invest an average 15% of their annual income in new income generation.