| Jun 1, 2022
Taking it to the Bank
For mothers to succeed in their income-generating projects, they need a strong foundation in financial literacy. Otherwise, we’re asking them to handle a sizable responsibility without demonstrating sound financial management.
Our new financial literacy initiative launched a pilot run just a few weeks ago. Our staff held a training day for volunteer Reps to learn about the concept of financial inclusion, the purpose of the system, and how to implement the initiative’s procedures with our mothers. These training sessions are especially important because Reps provide one-on-one mentorship for the mothers, making sure they each have a committed support system as they navigate Egypt’s banking system.
Reps’ training sessions also serve to create a system of problem-solving and communication between Reps and the banks with which we work. If a problem arises along the way for any mother, their Rep will be able to guide them through it. Smooth sailing all throughout!
The following day, mothers who participate in the program across Egypt were invited to workshops explaining the financial inclusion system. We received positive feedback from mothers and Reps – all were enthusiastic about this new initiative!
This project grants serious empowerment for women. Mothers become more independent and gain the ability to enact change in their communities with a bank account. Women are learning critical skills like budget management, how to use an ATM card, and other principles of financial literacy. For many of our mothers, this is the first time they have had an ATM card and unmitigated access to their own finances.
As always, thank you for your support in helping more of Egypt’s widowed mothers become fully capable of managing their household’s finances.