Mobile Savings for Women Entrepreneurs

Women in developing countries often lack access to formal savings accounts, creating challenges for female entrepreneurs. TechnoServe, in partnership with Vodacom, the World Bank and the Center for Global Development, is currently implementing a $2 million, two-year program funded by ExxonMobil Foundation in Tanzania and Mozambique. Business Women Connect, which began in October 2015, has two objectives. First, it aims to increase business income and economically empower female micro-business owners in Tanzania by introducing them to mobile savings and conducting business training. Secondly, using a randomized control trial led by the World Bank, the project will rigorously evaluate the impact of these interventions. Business Women Connect will work with approximately 5,000 businesswomen in the Mbeya and Dodoma Regions of Tanzania. The project will also undertake a market diagnostic of the mobile savings sector in Mozambique and the potential to replicate the program in that market