Barclays is partnering aid agency CARE and children’s development organisation Plan UK to help around 400,000 people across Africa, Asia and South America benefit from access to basic bank accounts.
This film explores the significant impact the partnership has had in Ghana, highlighting how financial inclusion has helped three women develop small enterprises and earn a sustainable income.
Ekuya set up her palm oil production business with a loan from her local Village Savings and Loan Association (VSLA), established by Banking on Change. Through the VSLA, local groups of people pool their savings in order to make small loans available to each other. Ekyua’s business success means she doesn’t have to worry about providing nutritious meals for her children and can afford to fund their ongoing education.
Juliana owns a beauty salon, and is using her VSLA loan to buy snacks and drinks she can sell to salon customers to earn extra income. The profits she generates from such sales help her to provide for her family, and allow her to reinvest funds into her salon business.
Felicia uses her VSLA loan to buy beans, rice, meat and fish at her local market – the ingredients for watchi, a popular local dish. She then sells her homemade watchi to local schoolchildren for breakfast and lunch, using the income to pay for her family’s healthcare and school fees.
Through a three-year, £10m commitment using the resources, skills and experience of Barclays, CARE and Plan UK, Banking on Change aims to improve the quality of life for disadvantaged communities by supporting financial inclusion and developing savings-led community finance programmes.
Banking on Change is part of Barclays community investment programme, which in 2010 invested £55.3m around the world and the time and skills of more than 62,000 employees to support disadvantaged communities, reaching more than 1.5 million people.