SNIF: More than 6,000 people benefited from financial education sessions in 2021

Partnerships, programs, action plans… The third edition of the report on the National Financial Inclusion Strategy (SNIF) takes stock of the progress of the various levers and actions within the framework of the adoption of the new approach to financial education.

In its latest report on the NFIS, the Ministry of Economy and Finance stresses that, despite the unfavorable context for the development of direct financial education initiatives, efforts have been made to progress in the implementation of plans of action suspended, given the pandemic crisis. The new approach to the deployment of the “financial education” lever, adopted in 2021, gave the FMEF the role of “leader”, thus strengthening its role of coordination in consultation with the actors of each lever.

With regard to the development of the partnership and collaboration axis, the report reveals the three important partnerships materialized during the last quarter of the year 2021. It thus cites the Tripartite partnership “FMEF, Ministry of Industry and Commerce and the Federation of Moroccan Chambers of Commerce, Industry and Services (FCMCIS) aiming to integrate financial education into the support and training programs carried out through their various regional structures for the benefit of different segments of the merchant target»the partnership “FMEF-Banque Centrale Populaire, covering the programs of the Group’s entities, each structure targeting specific targets and objectives” and the partnershipFMEF-Al Barid Bank, aiming at the development of relevant financial education actions by target».

In addition, the year 2021 saw the activation of the partnership between the foundation and the Mohammed VI Center for Solidarity Microfinance, allowing the coverage of an important component of the TPE objective and the contribution to one of the priority levers of the NFIS, namely microfinance. This ambitious action plan has been put in place to both develop the training of trainers in the sector on FMEF programs and multiply these programs with final objectives according to adapted formats. Namely that the levers of the strategy relate to mobile payment and dematerialization of payments, microfinance, inclusive insurance, banking offers and financing tools.

In addition, education modules have been integrated into the program’s support offer. This is a financial education offer developed and adapted to the specific needs of the “Entrepreneur” target group with variations and modifications according to the identified sub-segments. The document specifies that at the end of 2021, 1,393 entrepreneurs and project leaders, including 37% of women, benefited from financial education actions on various topics, in this case cash management, the development and management of the budget, the choice of suitable financing, the development of a credit file, the choice and use of suitable means of payment.

As for micro-entrepreneurs and people carrying out income-generating activities or
among cooperatives, 5,232 beneficiaries were reached through various actions and initiatives on skills related to setting financial objectives, budget management, making savings and its methods, cash management, the use means of payment, risk management and insurance, diagnosis of its activity/project… The number of farmers and agricultural cooperatives, beneficiaries of the program through 72 training sessions, was 1,136, of which 991 are women.

In addition, there are young people whose number has reached 3,271 young people, including 65% women, and who have benefited from training sessions organized face-to-face or remotely, in collaboration with FMEF partners. The beneficiaries of the literacy programs have, for their part, constituted a very important target since it represents the different categories, in particular women, young people, rural people… The report thus recorded 2,665 beneficiaries who followed training sessions. financial education which are part of the action plan carried out jointly by the ANLCA and the FMEF, including 36% of women and 39% of rural people.

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