Country
Ghana, The Gambia, Sierra Leone, Senegal
Local Project Partner
The Gambia: National Association of Co-operative Credit Unions of The Gambia; Ghana: Co-operative Credit Union Association; Senegal: Direction de la Microfinance et de l'Inclusion Financière Sierra Leone: National Co-operative Credit Unions Association
German Project Partner
Rheinischer Sparkassen- und Giroverband (RSGV), Düsseldorf; Sparkasse Attendorn-Lennestadt-Kirchhundem
Donor
BMZ
Duration
-
MFIs and the credit union sector (CUS) in West Africa are currently facing significant challenges arising from the increasing digitalisation and complexity of the financial environment. One of the challenges is that MFIs and CUs need to adapt their existing structures, offerings and processes to rapidly changing requirements in order to increasingly meet the individual needs of their customers and members and remain competitive. Existing offerings do not adequately cover the financial needs and capacities of customers and members, as they are not tailored to the specific requirements and capabilities of different target groups such as MSMEs, women and young people.
The project activities serve to provide sustainable support to the financial sector (MFIs and CUs) in West Africa through digital transformation. They include the development and introduction of digital solutions (processes, products and services) for MFIs and CUs, as well as accompanying practical training measures for both the supply and demand sides.
Tasks
The regional project aims to promote MFIs and CUs in a targeted manner, including through digitalisation measures in the project countries of Ghana, Gambia, Senegal and Sierra Leone. The overarching goal is therefore to strengthen and secure the competitiveness of MFIs and CUs in a sustainable manner in order to make a fundamental contribution to improving economic and social development in West Africa. In order to achieve the overall objective of the project, digital solutions and platforms are being introduced, among other things, for the introduction of internal processes, the development of sustainable financial products and services for MSMEs, women and young people, and modern forms of further training. Supported by intensive exchange between the project countries (South-South exchange), best practices and experiences are shared and utilised in the region, thereby sustainably promoting the development of MFIs and CUs through ‘lessons learned’ and ‘ownership’.
