Selling benefits of savings, one group at a time
As part of the MicroLead project, MEDA worked with UGAFODE Microfinance in Uganda to provide a safe and regulated savings environment for their clients.
Jokas Nuagabe, 34, is a sales and marketing officer at UGAFODE Microfinance Limited. Jokas currently lives in Kampala with his wife, Gloria, and two children. Jokas was born in Ntungamo and moved to Kampala 10 years ago to work in commercial banking.
One year ago, Jokas made the shift to microfinance and UGAFODE. He is the savings supervisor and a key member of the team developing and launching UGAFODE’s savings product for informal savings groups called GroupSave.
Jokas has learned how to sell savings products to UGAFODE’s target market, the rural poor. He had limited experience with targeting savings customers, but training by 17 Triggers and MEDA focused on the customer journey and savings mobilization have “increased my understanding of savings.”
While introducing the GroupSave product to potential customers, Jokas has come to appreciate the challenges of working with rural savings clients. He has assisted customers with filling out account opening forms, since many of them are illiterate, as well as educating customers on the terms and correct documentation to open their first bank account.
Learning how to engage with UGAFODE’s rural customers has allowed Jokas to assist in signing up 3,000 new customers. Many of these were keeping their savings in unsecured metal boxes, but they are now saving with a formal financial institution.
Jokas is part of the team that is slowly reaching unbanked Ugandans and providing them with an alternative to hiding money under their mattress.