Financial Inclusion for Refugees (FI4R) Results of Round 3 Diaries

The report finds that COVID-19 significantly reduced refugee incomes from employment and self-employment, leaving non-employment income as the primary source of support. While there is openness to digitizing savings groups to improve speed and safety, significant barriers remain, including low smartphone ownership, high transaction costs, and fears that digital tools may undermine group cohesion and meeting attendance.

• The COVID-19 pandemic caused a decline in refugee livelihoods, specifically reducing income from regular employment due to school closures and decreasing self-employment revenue because of travel restrictions and reduced customer spending.
• Non-employment income, consisting of support from governments, NGOs, and aid agencies, remains the primary source of income for refugees, as it provides more consistent support than seasonal or short-term work.
• There has been a general decrease in the use of financial instruments due to reduced cash flow, with the exception of shop credit. Cash remains the preferred mode for most transactions, including savings in ASCAs and ROSCAs.
• Refugee households experienced increased vulnerability during the study period, with 53% of respondents reporting hospitalizations and half of the households having children sent home from school due to COVID-19 or lack of fees.
• While refugees value the speed, safety, and privacy of digital financial services, adoption is hindered by low smartphone ownership (27%), high mobile money charges, and poor network availability.
• There is a perceived risk that digitizing savings groups could negatively impact social dynamics, potentially leading to decreased meeting attendance and difficulties in sharing out funds due to transaction fees.

APA

FSD Africa (2021). Financial Inclusion for Refugees (FI4R) Results of Round 3 Diaries. https://fsdafrica.org/wp-content/uploads/2025/05/FI4R-Diaries-Round-3-Insights-Digitization-of-saving-groups-1.pdf

Chicago

FSD Africa. Financial Inclusion for Refugees (FI4R) Results of Round 3 Diaries. 2021. https://fsdafrica.org/wp-content/uploads/2025/05/FI4R-Diaries-Round-3-Insights-Digitization-of-saving-groups-1.pdf.

Wikipedia

{{cite report |author=FSD Africa |title=Financial Inclusion for Refugees (FI4R) Results of Round 3 Diaries |date=4 August 2021 |url=https://fsdafrica.org/wp-content/uploads/2025/05/FI4R-Diaries-Round-3-Insights-Digitization-of-saving-groups-1.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{fsdafrica2021financial, author = {{FSD Africa}}, title = {{Financial Inclusion for Refugees (FI4R) Results of Round 3 Diaries}}, institution = {FSD Africa}, year = {2021}, month = aug, url = {https://fsdafrica.org/wp-content/uploads/2025/05/FI4R-Diaries-Round-3-Insights-Digitization-of-saving-groups-1.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }