Zooming in on Informal Savings Mechanisms in Zambia
The intention of this report was to provide the reader with new insights regarding users of informal savings mechanisms (ISMs), how they perceive their groups and formal financial service providers (FSPs), and what drives their decisions to use one service rather than another.
The study of ISMs and their users was conducted in three provinces of Zambia in 2019. It is qualitative rather than quantitative – that is, it was not designed to answer questions of how many or how much, but rather why. The study is primarily intended for financial service providers, though the authors expect it to be of interest and use to a wider audience, including donors, and regulatory and facilitating agencies.