DSIK and ThitsaWorks Renew Long-term Partnership to Strengthen Microfinance Institutions

Singapore - The German Sparkassenstiftung for International Cooperation (DSIK) and ThitsaWorks, long-term partners with collective aim to provide an affordable access to skills and knowledge regarding financial literacy, have recently formalized the renewal of their collaboration through a Project Agreement. This renewed partnership, extending until 2027, aims to enhance the expertise of the microfinance industry in financial literacy, entrepreneurship, digitalization, and sustainability through the Money Management Academy (MMA). This initiative will support multiple Sustainable Development Goals, leading to positive impacts on poverty reduction, quality education, sustainable economic development, gender equality, and equal opportunities for marginalized groups.

"Our renewed partnership with ThitsaWorks represents a significant step towards advancing financial literacy and inclusion in Asia. Through the Money Management Academy, we are not only enhancing the skills of microfinance professionals but also empowering communities to achieve sustainable economic growth. This collaboration is a crucial part of our mission to support resilient and inclusive financial systems," said Dr. Ilonka Rühle-Stern, Head of Division Asia, Deutsche Sparkassenstiftung für internationale Kooperation e. V.

ThitsaWorks is proud and honored to be partnering with DSIK in this significant endeavor. "Our collaboration with DSIK allows us to further our mission of improving financial literacy and financial inclusion. Together, we can make a substantial impact on the microfinance sector and the communities it serves," said Nyi Nyein Aye, CEO of ThitsaWorks.

MMA, in line with its commitment to fostering financial inclusion, delivers extensive training to professionals, entrepreneurs, and individuals keen on the financial domain, irrespective of their background knowledge. The platform provides a diverse array of courses, encompassing professional certifications and foundational lessons in microfinance, banking, investments, and insurance. Serving as an educational center, MMA arms both providers and consumers in the sector with essential expertise, effectively closing the informational disparity within the financial field.

Acknowledging the growing significance of improving skills and building capacity within the changing financial environment, our collective aim is to provide financial and digital literacy training among microfinance clients, microentrepreneurs, rural women farmers, and students, while also fostering their entrepreneurial skills and understanding of financial and environmental sustainability. This initiative further seeks to build a skilled local workforce in the microfinance sector, promote consumer protection, and facilitate the sustainable evolution of microfinance institutions. Additionally, it involves creating a digital platform for DSIK project partners to network across locations effectively.

This is a key component of the regional project led by DSIK on behalf of the Federal Ministry for Economic Cooperation and Development (BMZ), titled "Transformation towards a sustainable, resilient agricultural system and towards a social-ecological financial system." This project aims to empower the financial capabilities of the population, indirectly and directly supporting (women-led) small businesses, agribusinesses, and youth.

About DSIK. The German Sparkassenstiftung for International Cooperation (DSIK) is the German development policy institution of the Sparkassen-Finanzgruppe. DSIK actively supports financial institutions that sustainably promote economic and social development through needs-based banking, with the aim of giving people in developing and emerging countries access to financial services and thus creating perspectives for a way out of poverty.

To learn more about DSIK, please visit: https://www.sparkassenstiftung.de/en

About ThitsaWorks Pte. Ltd. ThitsaWorks is dedicated to driving financial equity and inclusion for the unbanked and underbanked in developing economies. They focus on digital transformation in areas such as payment, credit analytics, core banking systems, and embedded finance, aiming to enhance performance, expand client reach, and improve operational efficiency. ThitsaWorks is passionate about using data and open-source technologies to address complex business and social challenges. In cooperation with DSIK, ThitsaWorks established an online learning platform called Money Management Academy (MMA) in 2023 with a mission to power financial inclusion and human resource development.

To learn more about ThitsaWorks, please visit: https://www.thitsaworks.com/

Contact Information For more information about this project, please contact info@thitsaworks.com