As climate risks intensify, vulnerable populations in countries like Nigeria and Bangladesh face growing challenges to their livelihoods. Frequent and unpredictable disasters, such as droughts, floods, and cyclones occur with increasing frequency and unpredictability, rapidly eroding household resilience. Traditional climate interventions often overlook financial strategies at the household level. CGAP recognized this gap and partnered with MSC and Decodis to explore how low-income communities cope with these shocks and the role financial services play in their response.
MSC and Decodis conducted a comprehensive demand-side study in Nigeria and Bangladesh to generate firsthand insights into how vulnerable households experience and respond to climate events. The study used a mix of qualitative and quantitative research methods in both countries to capture detailed insights into financial behavior during and after severe weather events. The research documented how households prepare for and recover from climate shocks, the financial tools they use, such as microfinance, remittances, and mobile money, and what services they wish they had to support adaptation. MSC and CGAP then held a series of workshops to discuss the findings.
The research offered rich insights into the lived experiences of climate-affected communities and how they build and lose resilience between events. It highlighted gaps in financial services and guided stakeholders on how to design responsive climate-aligned financial products. These insights are shaping CGAP’s broader efforts to align financial inclusion strategies with climate adaptation goals.
Consultative Group to Assist the Poor (CGAP) commissioned the project.
The eastern Indian state of Bihar offers significant potential to use aquaculture and fisheries as a means to improve nutritional outcomes, enhance food security, and create diversified and sustainable livelihood opportunities, particularly for women-led community groups. MSC recognized this potential and conducted an in-depth baseline study to inform strategic interventions and guide investment in the state’s fisheries sector.
MSC employed a mixed-methods approach that combined quantitative and qualitative research tools for actionable insights. The study covered 12 districts in Bihar and included a quantitative cross-sectional survey of more than 1,200 fish-farming households, focus group discussions (FGDs) with both men and women, and key informant interviews (KIIs) with sector experts and community leaders.
The study seeks to understand in detail the current state of aquaculture, women’s empowerment in the sector, and the health and nutrition profiles of households engaged in aquaculture and fisheries livelihoods. MSC used baseline findings to align and contextualize the interventions under this investment. These tools are now being used in the endline assessment to track changes and progress in the parameters. A final assessment is underway to evaluate the program’s progress and achievements against its objectives.
The Gates Foundation commissioned the project.
Women-led micro and small enterprises (wMSEs) in Kenya’s open-air and cross-border markets face constant barriers in accessing and using digital financial services (DFS). These include limited access to tailored financial products, inadequate digital infrastructure, and restrictive gendered social norms.
To address these challenges, MSC implemented an action research program to identify practical pathways to increase DFS adoption among wMSEs. The project sought to uncover how digital financial solutions could meaningfully improve women entrepreneurs’ economic and financial lives in these informal trade environments.
In collaboration with financial service providers, MSC built and tested use cases that highlighted the potential of digital solutions such as savings, credit, payments, and insurance, for wMSEs. We pilot tested and refined products to generate practical insights for scale-up. As a result, one partner is now pursuing regulatory approval to launch DFS products tailored to this segment, while another has successfully rolled out cross-border payment services based on MSC’s findings.
This project supports the Bill & Melinda Gates Foundation’s Financial Services for the Poor (FSP) vision of improving women’s access to and usage of DFS by 2030. The insights help FSP refine its investment strategy and shape future interventions that expand financial inclusion for women entrepreneurs.
The Bill & Melinda Gates Foundation commissioned this project.
MSC conducted a scoping study to provide the Bangladesh Bank with relevant insights to support the cashless agenda and build strategies to achieve targets in the Smart Bangladesh Plan 2041.
MSC used the Payment-Ecosystem Profile Framework (PEFP) to assess Bangladesh’s economic and digital activities thoroughly, through the lens of the country as a microcosm in terms of digital readiness, inclusivity, infrastructure, literacy levels, and the availability of digital channels. We used rigorous secondary data analysis and qualitative methods to identify and profile distinct customer segments within the microcosm.
We conducted stakeholder consultations, including workshops and focused group discussions, which played a pivotal role to shape pilot initiatives tailored to the Bangladesh Bank’s solutions. We facilitated a pilot on the microcosm to test and refine the identified solutions. We identified detailed insights and actionable recommendations derived from user segmentation, qualitative insights, and pilot testing, all of which contributed to Smart Bangladesh initiatives in Singair.
Based on the pilot result, the Bangladesh Bank can revise or adopt draft policy guidelines, run concept tests, work with relevant departments, and guide the Government of Bangladesh to achieve different aspects of the Smart Bangladesh agenda.
The Gates Foundation commissioned the project.
MSC collaborated with NITI Aayog and TransUnion CIBIL to explore women’s participation in India’s retail credit market and shape inclusive financial strategies. The project sought to highlight trends in credit uptake, product preferences, and the growing financial agency among women.
MSC conducted rigorous market research using credit bureau data and secondary sources to analyze borrower segments, identify systemic barriers, and map emerging credit behaviors. We complemented this with qualitative insights to understand demand-side realities and challenges faced by women-led enterprises.
The study found a 22% CAGR in women who seek credit since 2019, with 60% of borrowers from semi-urban and rural areas, and a 42% rise in women self-monitoring their credit. Insights from the study informed actionable recommendations to enhance credit access and support systems for women borrowers and entrepreneurs.
The report was commissioned by NITI Aayog and TransUnion CIBIL.
Women-owned microbusinesses (wMBs) play a pivotal role to drive economic activity, job creation, and community resilience across emerging markets. While these markets now see a rise in women’s entrepreneurial participation, wMBs often continue to face entrenched barriers, which range from restrictive gender norms and limited digital infrastructure to poor access to finance.
MSC assessed the landscape of wMBs across 17 emerging economies in Asia, Latin America, and Africa and designed a contextualised financial health framework tailored to their needs.
We conducted secondary research to identify trends, analyzed learnings from the literature review, and collected data to understand recurring themes. This included key economic, financial, and policy indicators relevant to the financial health of wMBs. We then conducted country-level findings, which were further strengthened by a committee of subject experts to ensure contextual relevance. The country-level research fed into the development of the financial health framework and design of recommendations to implement the framework with illustrative examples to improve the financial health of wMBs.
These recommendations are based on the stakeholders, such as the government, financial service providers, and enterprise support organizations. Once implemented, the framework can drive more contextualised financial products, targeted capacity-building programs, and improved risk assessment tools for wMBs. This will eventually impact the lives of wMBs across all emerging markets, which is almost 30% of microbusinesses in emerging markets.
JP Morgan Chase & Co. commissioned the project.