The Fund portfolio is now complete in terms of selection and approximately 90% of financial support available through the Fund has been disbursed to the projects to date.
Based on the diverse business models, it is clear that some projects are further along than others in terms of generating development impact.
The total number of customers reached has more than doubled in the first half of 2018, as the portfolio began to mature and the majority of participants moved into full implementation. In this regard, self-reported figures from the participating projects as at June 2018, indicate that over 950,000 customers have used at least one financial product or service made available with Fund support. This is significant, and in all likelihood, the Fund has already met its initial numbers target of 1,000,000 people with better financial access given not all projects have completed reporting in the period.
The number of customers who participated in financial literacy capacity building in 2017 was just over 215,000. In the first half of 2018 alone, this figure is approximately 146,000. This means in total, over 360,000 customers using a financial product or service supported by the Fund, have received some kind of capacity building/literacy training to date. This is another encouraging statistic, and will in future result in better and more frequent use of products and services, for the benefit of households.
While the Fund is not focused on job creation, jobs created directly within the Fund supported program are tracked. This excludes any jobs created as a result of the Fund intervention at the beneficiary level, for example if a farmer employed additional help during the harvest season. As participants would have to collect this information from their beneficiaries in order to report it, measurement of employment creation at this level is costly and often inaccurate.