The impact of community-based savings schemes on an African community’s well-being cannot be overstated, especially in resource-poor environments. Children are fed and educated through the proceeds from initiatives such as rotating savings clubs. Supporting such initiatives in order to create a savings culture has become an economic imperative and can enable community development programs without any need for external funding.
Cassava’s savings solutions allow mobile money wallet users to form savings clubs that can earn interest – all on a mobile phone. The solutions provide an opportunity for a more disciplined savings approach and culture to build more financially independent communities.