Cenfri's Hennie Bester expands on this new approach:
The traditional focus in the measurement of financial inclusion is on access to a single financial service from a formal financial institution. However, the evidence from the first six MAP pilot countries is highlighting that this approach to measurement does not accurately reflect how adults, including the poor, live their financial lives. For instance, MAP Malawi (Thom et al. 2015) revealed that a typical household receives remittances physically delivered by family members or friends to pay for school fees, saves ‘under the mattress’ to meet monthly living expenses, and is a member of a village savings and loan association (VSLA) to access credit in the event of an emergency.While the evidence in financial inclusion research is highlighting that people use a portfolio of financial services, however, measurement has not caught up.
The MAP Global Insights series attempt to consolidate and synthesise the learnings from the first six MAP pilot countries which have been conducted in Thailand, Myanmar, Swaziland, Mozambique, Lesotho and Malawi.