PROJECT
Safe and Smart Savings Products for Vulnerable Adolescent Girls in Kenya and Uganda

With increasing attention being given to adolescent girls’ economic empowerment, we have seen—and expect to see on a larger scale—adolescent girls saving small amounts of money, planning for future financial goals, and preparing for unexpected emergencies. However, to date there are no formal, accessible ways for girls to save their money in East Africa, which increases their risk and vulnerability. Girls without safe, planned places to store their savings have been robbed; suffered harassment by family members, boyfriends, husbands, and others in their communities; and become targets of sexual violence. Having access to savings accounts can help alleviate some of these consequences as well as facilitate the savings process. This can increase adolescent girls’ economic stability as they move toward adulthood. Additionally, girls are not routinely taught basic savings and budgeting skills, without which their ability to save successfully and wisely manage their money is compromised. With the push to encourage girls to take charge of their finances, they need these skills to adequately prepare them to do so.

Through this grant we plan to tap into microfinance institutions and commercial banks in Kenya and Uganda that have already begun to develop ways for low-income clients to save money. We will work closely with them to develop appropriate products and services for adolescent girls, delivered in the context of a program that encourages their engagement and empowerment.

With this project, beginning in June 2008, the Population Council is partnering with MicroSave as well as financial institutions from Kenya (K-Rep Bank and Faulu Kenya Limited) and Uganda. The proposed activities build on the current work that’s been done, including the development of a financial literacy curriculum for adolescent girls in Kibera (in Kenya) and a market research study on savings products for adolescent girls in Kibera.

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Locations

Kenya, Uganda

Duration

June 2008–May 2011

Population Council researcher

Karen Austrian

Non-Council collaborators

Corrinne Ngurukie (MicroSave)

K-Rep Bank

Faulu Kenya Limited

Donor

Nike Foundation

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See Also

• Kenya
• Uganda
• Transitions to Adulthood
• Livelihoods

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