Support program Refugee owned MSMEs

Sida's approval of the SDACKED project to expand to Mandera is one of the major events that have happened within the reporting period. This means that the impact of the project shall be spread wider outside the realms of the refugee ecosystem. The expansion will encompass a market systems development approach to ensure that all key player in the financial inclusion ecosystem are involved. Defining the lending process with formal banks. KCB Bank and DRC signed both the Lending Process and Revolving Fund agreements. These 2 agreements stipulate the ways of engagement during lending and how the vulnerable CSLAs shall benefit from the Revolving Fund Identifying target groups and overcoming banking access hurdles. Overall, 232 CSLAs (202 non vulnerable and 30 vulnerable) consisting of 4,033 (1,124 M: 2,909 F) non vulnerable members and 720 (145 M: 575 F) vulnerable members, were identified and recruited into the project. All the 30 vulnerable groups have been trained on the CSLA methodology. Seventy five (75) CSLAs and 21 (8 M:13 F) individual entrepreneurs have been supported to open accounts at KCB Bank. One hundred and thirty three (133) CSLAs consisting of 1,801 (464 M:1,337 F) members have been trained on formal registration which is a precursor to formal registration and obtaining a certificate either as a self help group (SHG) or CBO (community based organization). One of the key requirements (KYC Know Your Customer) for a group to open an account with KCB Bank is the registration certificate. By the end of June 2024, 47 CSLAs were formally registered by the Ministry of Labour and Social Protection,15 as CBOs and 32 as SHGs. Supporting digitization of CSLAs and the financing process. Eleven (11) SDACKED project staff (5M:6F) were trained by the digital consultant Chamasoft Limited, on the digital solution, to enhance their capacity to support in the digitization of CSLA records, learn about monitoring performance of the groups using the Chamasoft solution/platform. Due to the delays in getting integration rights from KCB Bank Digital Financial Services (DFS) department, the SDACKED project team opted to advising Chamasoft Ltd to upload all the ledgers of the CSLAs so that the officials of these groups can learn the process and in return train their members to understand and appreciate the process. This is in anticipation for integration with KCB Bank. Training to support refugees and hosting communities to prepare for lending. One hundred and fiftytwo (152) CSLAs, consisting of 2,337 (547 M:1,790 F) members have been trained on Financial Literacy to enhance their knowledge on good money management practices. One hundred and sixty two (162) CSLAs, consisting of 2,130 (380 M:1,750 F) members have been trained on Entrepreneurship and Business Management using the International Labour Organizations (ILO) Gender& Entrepreneurship Together (GET Ahead) and Start & Improve Your Business (SIYB) tools, in readiness for uptake of loans. Advocating for the long term, sustainable financial inclusion of refugees. The project has continued its advocacy efforts under the SDACKED project. A comprehensive Advocacy Strategy has been developed and is currently being developed by the partner and will be submitted to Sida for review in 2025. This strategy reflects on Sida's and Sweden's commitment to addressing systemic barriers and enhancing financial accessibility and inclusion of refugees.

Refugees and hosting communities have enhanced financial knowledge and awareness on available formal financial services Refugees and hosting communities have enhanced access to relevant and affordable formal financial services Refugee and hosting communities increasingly use available formal finance products and services