A common barrier identified to financial inclusion and effective microfinance is low levels of financial literacy, leading to a lack of trust of financial institutions and of understanding how to build a sustainable business from a loan. Tailored training helps to overcome this educational gap to financial inclusion.
At Deki, our goal is to help those who are most vulnerable and impoverished. To this end, we implement an assessment for all of our prospective loan applicants to measure their current level of poverty. This is achieved by using the Poverty Probability Index. These measures vary from country to country, but encapsulate key factors which indicate whether an individual is living in poverty.
Women play a critical role in achieving a world full of opportunity, not poverty, but they face persistent obstacles and high levels of financial exclusion, limiting their ability to lift themselves, their families and their communities out of poverty. This is why 79% of Deki entrepreneurs in 2018 were female.
Deki provides micro-finance for first time borrowers, who otherwise would have no access to financial services, which unfortunately can be risky. Deki’s due diligence and safeguarding processes are in place to mitigate risks as much as we can. We aim to partner with organisations who have experience of working with these beneficiary groups, and share the same vision and mission with Deki – to help people lift themselves out of poverty for good.