SomReP, STREAM and BRiCS are pleased to host a virtual peer learning session to share evidence of the impact of Savings Groups in Somalia, focused on building resilience to protracted crises, disasters and conflicts. Establishing Savings Groups in Somalia has been complex given the fragile country context. Yet, Savings Groups have reduced provision approach of handouts, increased social protection and improved access to financial services for household members - both within Somalia as well as for the displaced refugee populations who are continuously exposed to shock. Savings Groups have also improved household income, reduced inequalities, promoted greater trust between community members and promoted gender equality, empowering women to actively participate in decision making both at the household and the community level.
This webinar will share the experience of three consortiums that have adopted and promoted Savings Groups as a resilience strategy in the fragile and hostile contexts of Somalia and beyond. The session will create an opportunity for learning, discussion of good practices, and reflection on the results of a positive deviance study on Savings Groups in Somalia. The target audience for this session are sector focal points for social protection and economic development, donors, academics, and other stakeholders.