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The overall objective of the regional project “Rural Development in Eastern Africa through Institution Strengthening of the Microfinance Sector” is to contribute to permanent, inclusive and sustainable economic growth in Eastern Africa (SDG 8). The aim is to promote the region’s rural development through strengthening the microfinance sector.
Through institutional professionalization of microfinance umbrella organizations and microfinance institutions, Sparkassenstiftung creates prerequisites to offer banking and financial services adequately and sustainably. Thereby, MFIs and SACCOs operate more efficiently and can expand their ranges of services which ultimately contributes to higher financial inclusion.
Particularly, it is achieved by management consulting, support of partner organizations in the fields of strategic and business planning and comprehensive capacity development measures. Furthermore, Sparkassenstiftung supports partner organizations in the introduction of “Shared Services”, for example consistent banking software or external audits. Our advisory services focus particularly on improving our partner organizations’ financial autonomy.
One main project focus is on digitalization. In recent years, mobile banking solutions and cashless payments have experienced rapid growth rates in Eastern Africa. Therefore, it is increasingly important to accompany these developments with targeted advice and training measures as well as with new product development.
In Rwanda, one project component is the professionalization and consolidation of Umurenge Savings and Credit Cooperatives (SACCOs) and the establishment of a Cooperative Bank in collaboration with partner organizations and stakeholders.
This regional project is sponsored by the German Federal Ministry for Economic Cooperation and Development (BMZ).