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Savings Groups (SGs) are a simple financial intermediation model where members of a group contribute an agreed minimum amount of savings during regular meetings. FSD Kenya has been supporting savings groups since 2008 through the Community Savings & Loans (COSALO) project in partnership with CARE Kenya and later with Catholic Relief Services (CRS) under the private sector partnership (PSP) strengthening project. The project has so far registered some impressive results with about 356,000 members reached in 13,400 SGs by December 2013. Notably, an interesting smart-phone based accounting system was introduced to ease and secure the financial records of participating groups. The app was piloted with six groups and later rolled out to about 60 SGs by the end of 2013. The project is also working on SG linkages with formal financial service providers. Click to read more on this - http://bit.ly/1hT4FML