Formal financial institutions are not always able to meet the needs of the very poor, particularly those living in remote areas. Nonetheless, poor men and women need access to small amounts of savings and credit to help smooth erratic incomes, meet planned expenses, make timely investments and cope with emergencies.
News: In 2016 AKF launched a new Digital Savings Group offering. DSGs will be a more commercially-oriented approach to savings groups, and will encourage the uptake of digital financial services more generally. For more information on DSGs click here.
Community-Based Savings Programme (CBSG)
CBSGs are self-managed groups of 15-25 people and systems are kept simple and transparent to promote independence from AKF, and maintain transparency for members. There are more than 400,000 AKF CBSG members, of which 73% were women, saving more than $13 million per year.
Check out AKF’s CBSG dashboard for the latest numbers and locations of AKF’s CBSG programme.