Transforming Communities in Necoclí through Financial Education
Through virtual and face-to-face financial education, we seek to improve the knowledge of family and personal finances of the inhabitants of Necoclí so that the communities are better trained and make better decisions regarding managing their resources, investments, and acquisition of financial products.
Necoclí, on the Caribbean coast, is one of the eleven municipalities that make up the subregion of Urabá, located in the department of Antioquia.
It has a population of 42,000 inhabitants. Very close to this municipality, we find “El Rosario” Farm, which has been Luker’s anchor crop in the region since 2011. It has 517 hectares of cocoa, produces between 130 and 267 tons annually, and works with six associations in the area.
Revolutionizing Financial Education for Empowered Communities
We provided virtual training of approximately 10 hours, through which people could access online at the times that best suited them. Additionally, we held three in-person sessions that lasted 4 hours each to present the project, provide in-person training, address concerns, and propose financial services.
They received their training through different modules:
INCOME: become aware of the positive impact that proper financial management can have on the quality of life of the family.
EXPENSES AND PRODUCTION COSTS + CASH FLOW: identify the different types of expenses to motivate participants to make informed financial decisions.
FINANCIAL SERVICES: to identify the advantages of the financial sector to make the best decisions on which of its products to purchase when required.
DIGITAL TOOLS: to present mobile finantial applications and digital services.
were part of the project
of financial knowledge
*Based on surveys conducted at the start and end of the project.