Worldwide, 1.7 billion adults have inadequate access to formal financial services and do not hold accounts with a financial institution or mobile money provider. This leaves them unable to access reliable credit. Most of them have low and unpredictable incomes, and lack the resources to cope with unexpected household or livelihood needs, or to invest in a better future.
Our work promotes financial inclusion through partnerships with microfinance institutions and with banks that support small to medium enterprises (SMEs).
We also seek partnerships with financial intermediaries beyond traditional financial institutions, such as Fintech companies that target underserved communities with innovative financial technologies and business models.
Our target audience – low-income people – benefits from Oikocredit’s work both through the provision of financial services through microfinance partners as well as job creation and the provision of loans for small and medium businesses through SME banking partners.
Global Findex Database 2017: https://globalfindex.worldbank.org/