Microfinance & Gender: Some Findings from the Financial Diaries in Malawi
Microfinance institutions often target women, either exclusively or with particular products and service-delivery mechanisms. A major Financial Diaries study recently concluded by Microfinance Opportunities (MFO) examined financial behaviors among hundreds of low-income Malawians, including a large number of women.
MFO carried out the Diaries study in cooperation with The IRIS Center at the University of Maryland-College Park under a grant from the Bill & Melinda Gates Foundation. It found clear patterns of gender-specific income streams, spending patterns, and banking preferences.
These findings have operational implications for providers, including Opportunity International Bank of Malawi (OIBM), whose branchless banking innovation—a full-service "bank on wheels" mobile van—was a central focus of the study. OIBM uses its banking van to bring its bank to the people, serving places without OIBM bricks-and-mortar branches (or, with the exception of a couple of larger towns, any other banks' branches).
