Finance Tools for the Poo

Some of the most powerful financial tools for fighting poverty are not found in banks, but in communities. This course explores how the world’s poorest people save, borrow, share risk, and build resilience through informal savings systems such as tandas in Mexico, susus in West Africa, dhikutis in Nepal, voluntary savings and lending groups largely in Africa, and self-help groups in India. Students will compare community-based finance with cash transfers, remittances, microfinance, mobile banking, and fintech to ask what truly works, what falls short, and how financial inclusion can build on local wisdom rather than simply adapt Western financial models. Our motto is: “from our ideas to theirs.” Through case examples, guest presentations, and hands-on project design, students will learn practical tools for creating initiatives that reach people at the bottom of the economic pyramid, including goal setting, methodology, selection, staffing, budgeting, monitoring, and evaluation. Working in small groups, students will design practical projects presented on the final day of class. This course is ideal for students interested in development, social entrepreneurship, public policy, philanthropy, community finance, or poverty reduction. No technical or financial background is required—only curiosity and a willingness to question conventional assumptions about finance. Taught by Jeffrey Ashe, a pioneer in microcredit—spreading solidarity group lending to more than thirty countries—and savings groups, whose work through the Saving for Change Initiative helped 850,000 poor village women gain access to savings groups. His current work focuses on promoting rotating savings and credit associations (ROSCAs) in immigrant communities through Grassroots Finance Action, which he directs. Students will have access to his books on savings groups and ROSCAs, as well as his earlier writing on microfinance