Financial Literacy and Institutional Strengthening of the Microfinance Sector in Mozambique

Promoting Financial Literacy in Mozamqiue


Local project partner
KUKULA (local NGO),

German project partners
Stadtsparkasse Wuppertal

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

01.09.2016 - 31.12.2022

Mozambique is one of the least developed countries in the world but has enormous economic potential. The informal sector plays an important role in the daily lives of many families in Mozambique, especially in rural areas. Large parts of the predominantly poor, rural population still lack access to financial services and have an extremely low level of (financial) literacy.

Informal savings communities are nevertheless deeply anchored in Mozambican social structures. Financial reserves are mostly managed in informal groups called "Xitique" (rotating savings and credit associations) and Accumulating Savings and Credit Associations (ASCAs). These informal savings groups are particularly widespread in rural and remote areas of Mozambique, where they cover the lack of formal financial services.

The overall objective of the project is to contribute to poverty reduction in Mozambique and to the achievement of the Agenda 2030. The specific project objective is to improve the financial inclusion of the poor, rural population, and micro-entrepreneurs.

The above objectives are met through the following outcomes:

  1. the financial literacy of micro-entrepreneurs and members of savings groups is improved.
  2. the partner institutions Kukula, Ophavela and a third partner institution are institutionally strengthened.

Project Tasks

  • Provide management advice to selected savings and credit groups.
  • Gradual transition of members to the formal financial sector.
  • Implement financial education and savings mobilization activities.
  • Implementation of educational measures for micro-entrepreneurs.
  • Provide business model/strategy/management advice to partner institutions.
  • Supporting partner institutions in expanding the range of services.
  • Adaptation of Business Games to the Mozambican context and provide training of master trainers.
  • Selection of local trainers as multipliers, design of training measures (training-of-trainers).

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

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

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