The financial inclusion rate in Malawi is low. Over the past five years, the Government of Malawi has introduced policies to encourage financial inclusion. These policies aim to expand the reach of digital payments (including via mobile money), increase savings through savings groups such as Village Savings and Loan Associations (VSLAs), and improve levels of financial literacy. A team of local PEP researchers designed and conducted an experiment to understand how to improve the knowledge and use of mobile money among VSLA members. They found that VSLA members who receive financial literacy training reinforced by text message reminders are more likely to report that they use mobile money and have access to formal financial services (compared to those who do not receive the training and text messages).
Find out more about the research methods, findings and policy recommendations in the following PEP publications: