changecorner.org ~ Transforming communities through Financial Literacy
We envision a financially inclusive country where citizens at all levels understand and utilize formal financial products. This will be actualized through financial literacy which will empower them to make informed financial decisions.
Our mission is to improve Financial Literacy for children, the underserved and financially excluded people in the society through education and peer role modelling. The poor think that the banks are a preserve of the rich – unfortunately, for these people – the only stories they have heard about banking are the negative aspects of defaulters and not the success stories of growing entrepreneurs or the benefits of compensation by insurance companies incase of an accident. There’s need for a mindset shift. This group needs to hear the success stories from familiar faces in their community. We will be actualising this at changecorner.org through strategic partnerships and trainings.
Why Saccos and Community Groups?
Communities in Africa have high social capital and this can be leveraged to increase Financial Inclusion. There’s a lot of mistrust and judgement of formal financial systems at BoP and peer learning gives new information a familiar face. It also allows for accountability amongst the peers as “we” are in ‘it’ together and in our familiar social habits.
The power of any culture comes about through the fact that assumptions are shared, and mutually reinforced. Our goal at changecorner.org is to transform the narrative about formal financial products through education, awareness and peer role modeling. This is because trust is a fundamental factor to the financially vulnerable people at the bottom of the pyramid.
Our leadership team has working experience in the Kenyan banking industry. They have also been involved in financial inclusion initiatives, digital/ alternative channels banking and bank transformation initiatives.
changecorner.org is keen on improving Financial Inclusion in our communities by championing Financial Literacy.