Improving access to financial services to low-income earners

Financial Sector Deepening Africa (FSD) has signed a Sh116.72 million grant agreement with Strathmore Business School–(SBS) to develop and deliver training to over1000 senior and mid-level executives in the financial sector in Tanzania, Rwanda and Uganda. This grant will support the expansion of the programme into Tanzania and Rwanda until the end of 2018. It will essentially be used to develop faculty, course material, case studies and limited scholarships to pioneering financial institutions for the programmes. Since 2013, SBS has trained over 200 senior and middle level managers in Uganda under the Uganda Leadership Development Academy. The expansion of these academies by 2018 will improve access to financial services to people living on less than Sh200 a day. “I thank the FSD Africa team for supporting this dream of expanding our programs, to include people who directly shape the economies of Eastern Africa. The region will only grow if we invest in the economies of cash,” remarked Dr George Njenga, Dean Strathmore Business School in his opening address. Over the next 3 years, it is expected that the target financial institutions to which these course participants belong will develop innovative products and deliver effective service to reach out to up to 5 million of existing and new customers in underserved market segments. According to Mark Napier, managing director for FSD Africa, it is very critical to always find a new approach to be more impactful. They chose the business school because of its outstanding credentials in management training, and its commitment to expand into new geographies. “We looked very hard into the Uganda Academy currently being ran by Strathmore Business School, which convinced us more that Strathmore Business School is a deliverer of skills and impact,” he says.

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