SEDPI Bags USAID Project

The Social Enterprise Development Partnerships, Inc. (SEDPI) recently bagged a United States Agency for International Development (USAID) funded project on June 14, 2013. The project is on the conduct and development of financial education support on mobile money services entitled Scaling Innovations in Mobile Money (SIMM). for the The Development Alternatives International (DAI) is the implementing partner of USAID-funded SIMM.

Scaling Innovations in Mobile Money (SIMM) is a 2-year USAID project that started on April 25, 2012 in order to scale the uptake of mobile money adoption and usage in the Philippines.  President Aquino and USAID Administrator agreed to implement SIMM in Washington, DC on June 8, 2012.

Major mobile money products in the market are BanKO (owned by BPI, Globe and Ayala Corp.), Globe’s G-Cash and Smart Money.  Uses are sending/receiving money, paying bills, buying pre-paid load and other goods using the mobile phone.  Consumer benefits include reduced costs and increased convenience and security.

SIMM will partner and build on existing training platforms of government agencies, partner organizations from businesses, cooperative and other microfinance institutions and NGOs to further develop financial literacy training programs and materials including special discussions on mobile banking, consumer protection and awareness, product uptake and improved product use, and personal development for improved livelihoods.

DAI engaged SEDPI to develop and conduct financial education, particularly for micro finance institutions, small medium enterprises, government, and other low income households as the target beneficiaries of the project.  SEDPI will be delivering the following services: conduct and development of financial education on the adoption of mobile money; training of trainers on financial education for the adoption of mobile money; develop practical training materials such as comic books and videos on financial education with special focus on adoption of mobile money; and provide follow up support on the rollout of the program.

With the program, SEDPI hopes that it could contribute to the advancement of financial literacy of Filipinos. SIMM is SEDPI’s first engagement with USAID and DAI.