Madagascar Zambia Togo

Improving access to financial services through postal savings banks

Togo, Zambia, Madagascar

Local project partners
Société des Postes du Togo (SPT)
National Savings and Credit Bank (NATSAVE)
Caisse d’Epargne de Madagascar (CEM)

German project partner

German Federal Ministry for Economic Cooperation and Development (BMZ)

01.11.2016 - 30.04.2022

Despite some success in improving access, a large proportion of the population in sub-Saharan Africa is still excluded from using formal financial services. For example, only about 24% of adults have a bank account (in South Asia, the figure is 33%). Banks are predominantly present in urban areas and economic centers. For example, the concentration of bank branches in sub-Saharan African capitals is 50%. In contrast, 80% of post offices are located outside the three largest cities in each country. This pattern also applies to Zambia, where only a good third of bank branches are located outside the economic centers. The savings bank there, NATSAVE, is a positive exception with a high presence in rural areas.

The core problem is that access to financial services is limited by inadequate banking infrastructure (branches, agencies, and other access points). Especially in areas outside the economic centers and for the poorer, older, and inadequately educated population in many countries of Sub-Saharan Africa. The consequences of this lack of access include failure to realize economic potential, continued poverty, and reduced social participation (health, education, etc.).

The overall objective of the project is to contribute to improving access to financial services outside the economic centers of the participating project countries.

Project Tasks

  • In the project countries (Togo, Zambia and, since May 2019, Madagascar), the aim is to strengthen the capacity of the Post (Postal savings bank) to effectively harness its distribution networks (branches, agencies, etc.) to improve access for the general population and micro-enterprises.
  • To this end, a vocational training concept will be developed for employees working in sales and multipliers will be trained.
  • In addition, the management of sales and the branch network is to be improved, e.g., through better information or management training.
  • The South-South dialog of the postal savings banks is strengthened and cooperation with other institutes is investigated.

Deutsche Sparkassenstiftung für internationale Kooperation e.V.
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Phone: +49 228 9703-0
Fax: +49 228 9703-6613 or -6630

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