01.09.2016

Mozambique | Promoting financial literacy


Training measures in Mozambique are geared primarily to the rural population and women.

Country
Mozambique

Local Project Partners
n.a.

German Project Partners
n.a.

Donator
Germany’s Federal Ministry for Economic Cooperation and Development (BMZ)

Duration
09/2016 - 08/2018


Mozambique is one of the most underdeveloped countries in the world. But it also has enormous economic potential. The informal sector plays an important role in the every-day lives of many families in Mozambique, especially in rural regions. Large swathes of the mostly poor rural population are still without access to financial services and have an extremely low level of financial literacy.

The project, therefore, aims to promote financial inclusion – amongst the people but also amongst microentrepreneurs – with a view to reducing poverty, particularly in rural areas. Education, and financial education in particular, are important if people are to improve their economic situation. For this reason, the project is working to enhance people’s basic financial literacy and so create a basis for their participation in the formal financial sector.

Training measures conducted as part of the project are geared primarily to the rural population and women. Microentrepreneurs are also a key target group, as the promo-tion of entrepreneurial literacy is regarded as a vital impetus for their development. However, training also extends to the staff of (micro) financial institutions, who, once sensitised to the importance of financial literacy, can act as multipliers.

Sparkassenstiftung is thus building on its experience gained with a project that intro-duced World Savings Day to Mozambique in 2014 and 2015 in order to promote finan-cial literacy in Mozambique.

The project started in September 2016. Its first activity centred on an extensive analysis of the ongoing situation and the need for financial education in Mozambique. Project activities are set to develop a comprehensive programme for promoting financial and entrepreneurial literacy, using practice-oriented materials that customized to the target groups, including the business simulations, developed by Sparkassenstiftung. Prepara-tions have already been made to adapt the micro business game to the Mozambican context, including a version in Portuguese, Mozambique’s official language. In this way, local people can be trained as multipliers of financial literacy.

 

 


Sparkassenstiftung für internationale Kooperation e.V.
Simrockstraße 4, 53113 Bonn

Phone: +49 228 9703-0
Fax: +49 228 9703-6613 or -6630

» E-Mail