"In Benin, the proportion of individuals with bank accounts remains low: less than 20% of the population has access to financial services," stated Maurille Couthon, manager of ADAPAMI, DID’s support project for developing, professionalizing and revitalizing microfinance in Benin. This project, carried out in partnership with 14 local organizations (including 10 microfinance institutions) and funded by the Government of Canada, has great ambitions. Upon completion, it will have allowed 500,000 new clients, mostly women and youth, to gain access to financial services.
In addition, the project aims to help 65,000 Beninese citizens improve their financial literacy so that they can make more informed decisions about the financial services available to them. The first training session, centred around keeping money in a secure place, was held in October by one of the participating financial institutions. Participants attended the session despite poor weather conditions and were eager to share their experiences. They recognized that they needed to change their current money-saving habits. Since then, these sessions have multiplied and become increasingly successful.
“Coordinating all of the project activities is our main challenge,” acknowledged Andréanne Ratté, project operations manager. “Fortunately, ADAPAMI has three national advisors that provide day-to-day, on-the-ground support to our 14 partners. I am certain that this project will make a difference for our partners and communities in Benin alike!”
Click here to watch the video that provides an overview of the project (in French only).