Savings and Entrepreneurship Project

This project covered 852 beneficiaries - adults 388 users, children and young people 464 users, (Santander adults 306, children and young people 193, Guajira adults 82, children and young people 271).

The active cycle of the project is 10-months.
GEMA Adult Savings Groups: #28 groups (Santander 21 and Guajira 7)
Savings groups for children and young people YES: # 33 groups (Santander 13 and Guajira 20).
Trainings carried out for groups of adults: 4 financial education workshops with 42 replications.
Trainings for the group of children and young people: 10 workshops for a total of 321 replicas (Santander 130 and Guajira 191).
Production Meetings: 967 (Santander 290 and Guajira 677).
Audits and closures made to groups: 5 for 61 groups, a total of 177 replicas.
Savings achieved in the adult groups: Gema $193,761,385 (Santander $172,616,885 and Guajira $21,144,500)
Savings achieved in the Yes groups for children and young people: $71,790,807 (Santander $50,153,900 and Guajira $21,636,907)
Savings delivered to 61 groups in total $265,552,192 (approximately $92,000 CAD)

It is supported by the articulation of the INVESTING HOPE Foundation

In Colombia, the habit of saving is not an ingrained part of our culture, and financial education is not taught in schools. This challenge is intensified in specific communities, such as rural, disabled, and indigenous communities participating in our project. Despite these difficulties, we are seeing a growing interest from more families to join the initiative. This increase is not due to external incentives but to the confidence generated by the tangible results of the process. These families have chosen to save consciously, believing in the effectiveness of the project and thus demonstrating a positive change in their financial habits, which is gradually aimed at their own support and the education of their children.