Financial literacy project in Benin

Did you know that Desjardins - and you, member! - is encouraging financial literacy in Canada and around the world? ADAPAMI, a microfinance project in Benin, is a great example.

Microfinance for youth and women

Launched in January 2017, ADAPAMI is a project to develop, professionalize and revitalize microfinance in Benin. The goal is to improve the economic situation of underprivileged communities, including youth and women, by promoting and fostering skills development and knowledge among key players in the microfinance sector.

The project target is to increase access to financial services for 500,000 Beninese, including 335,000 women, and to provide eco-friendly financial services that are suitable in the economic context.

“ADAPAMI is a project about financial inclusivity”, says Maurille Couthon, Project Director. “Less than 20% of Beninese have access to financial services.” In the next 5 years, the project will improve financial skills and knowledge for 65,000 Beninese and encourage them to make smart financial decisions about the financial services they are able to use.

Learning practical skills that matter in everyday life

In 2 years, almost 11,000 people have been trained at 10 local financial institutions.

Training sessions on financial literacy cover 6 different but complementary topics:

  • Keeping money somewhere safe
  • Managing money well
  • Living within your means
  • Getting easy credit from decentralized financial systems
  • Turning informed decisions into better sales
  • Respecting family and business commitments

“The challenge is getting people to change their relationship to money and creating new financial habits. So, we need good trainers and several follow ups with the learners once the training is done, particularly with women. We’re lucky to have a team of 3 national advisors supporting 14 local partners on the ground every day”, says Nathalie Desautels, ADAPAMI Operations Coordinator. “This project will make a difference, for our partners and for the people we’re helping!”

The project is financed by Global Affairs Canada and operated by Développement international Desjardins (DID).