Deadline: 12-Jul-2017 at 11:59:59 PM (Eastern Time – Washington D.C.)
Financial inclusion in Senegal is low, with only 12 percent of adults having a formal financial account. Women are especially excluded from accessing formal financial services. This has led low income people to adopt informal systems of saving, such as the tontinea type of rotating savings and credit association (ROSCA) that combines features of a lottery to determine the sequence of disbursing group funds among members. CGAP intends to procure technical services to structure and test a solution that digitizes the tontine process and works as a marketplace for financial services. The objective of the project is to identify relevant lessons and share them widely in an open access format. We expect this pilot to produce lessons on digitization of tontines and on the value proposition of bundling other financial services such as credit or insurance along with it.