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baby bank dedicated maternal savings program via M-Pesa

baby bank dedicated maternal savings program via M-Pesa. Eva Hoffmann, David Rizk, Amber Saloner. meet Rose. she lives in Nairobi. (the average fertility rate in Kenya is 4.92 births per woman*). with her husband and two kids… and she’s expecting one more.

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baby bank dedicated maternal savings program via M-Pesa

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  1. baby bankdedicated maternal savings program via M-Pesa Eva Hoffmann, David Rizk, Amber Saloner

  2. meet Rose

  3. she lives in Nairobi

  4. (the average fertility rate in Kenya is 4.92 births per woman*) with her husband and two kids… and she’s expecting one more *World Bank, World Development Indicators

  5. she already lost a child

  6. lost a child

  7. and wants to deliver this child safely

  8. but

  9. every minute a Kenyan woman or child dies from pregnancy-related complications * *USAID Maternal and Child Health report

  10. every hour

  11. every day

  12. Rose needs a plan …why?

  13. Rose wants clinic appointments

  14. Rose wants malaria medication

  15. Rose wants blood pressure testing

  16. Rose wants delivery in a clinic

  17. but&

  18. healthcare is expensive!

  19. clinic appointments? 20 Ksh. (20 Ksh is roughly 25¢ US, or about an hour of her family’s wages)

  20. malaria medication? 300 Ksh. (two days’ wages)

  21. blood pressure testing? 80 Ksh. (half a day’s wages)

  22. delivery in a clinic? 1500-4000 Ksh. (10 to 25 days’ wages)

  23. Rose and her children sell fruit

  24. the family earns 150 Ksh./day

  25. if Rose saves 15 Ksh. each day…

  26. if Rose saves 15 Ksh. each day… ….it will take over 9 months to save 4000 Ksh.

  27. Rose needs a tool to help her save money…

  28. Rose needs a tool to keep cash secure

  29. Rose needs a tool to make depositingeasier

  30. Rose needs a tool to make saving a habit

  31. and there already is one! (kind of)

  32. what if

  33. what if expecting Kenyan mothers had a savings account tailored to their needs?

  34. this is how it would work (our prototype)

  35. Rose wants to save because she’s pregnant!

  36. and she wants to deliver a healthy baby

  37. (and she knows prenatal care is expensive)

  38. Rose signs up for a baby bank account at her local M-Pesa agent

  39. she chooses one of severaldefault plans to match her income & savings ability

  40. her baby bank account supplies concrete savings goals according to her savings ability (visits, medications, clinic delivery)

  41. Rose chooses to automatically save 7%of payments she receives on M-Pesa

  42. SMS texts help Rose track her progress and remind her to save more

  43. informational texts reinforce healthy habits and Rose’s commitment to her savings goals

  44. Rose’s baby bank account accepts deposits from friends and family, even from the UK

  45. Rose receives the timely disbursementof her savings

  46. Rose’s money is sent directly to the doctor - she never has to pocket the cash!

  47. but this is only one baby bank scenario

  48. we considered many others

  49. we considered many others

  50. we talked to the experts Sally Madsen, IDEO Seema Jayachandran, Economics Professor at Stanford Nick Pearson, Jacaranda Health Grant Miller, Professor of Medicine and Economics at Stanford

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