Everyone has financial needs
While Skild would love to be a part of every online contest management, sometimes others get the lucky opportunity to share the innovation. The MasterCard Fund for Rural Prosperity innovation competition, is one in particular that Skild didn’t work on but still extremely proud of such a phenomenal challenge. This online contest software, “requires proposals that seek to design, pilot, test and launch new financial products and services that can effectively meet the financing needs of people living in poverty in rural and agricultural areas,” according to their website. Basically, the MasterCard Foundation Fund for Rural Prosperity will give $50 million to whoever wins this challenge by successfully helping people living in poverty in Sub-Saharan Africa with financial services.
Strategy for people in poverty
Many people in Africa are living in extremely poor situations with no idea how to change this path that they are on. With this online contest, these groups of people in underdeveloped areas will have a better understanding of what can be done to fix their financial status, develop ideas to manage their wealth, as well as what can help their specific personal needs.
This innovative competition is a great idea for people in deep poverty because all people need to feel financially secure. All people should have the right outlets that can help them with insurance, savings, and credit if needed. With the MasterCard Fund for Rural Prosperity contest, about 1 million people in poor situations will have access to the financial security that they need. Some systems that will improve exponentially are:
- Income increase
- Improve their resilience
- Uplift their communities and economy
Making green changes
The application time period has already begun! But don’t worry, there is still time to apply all the up until March 28, 2016. For eligibility information, you can go to their website here.
Skild is excited that these challenges can make such an impact in the world, especially when it comes to underdeveloped rural areas. With the MasterCard Foundation Fund for Rural Prosperity Contest, those groups will have the opportunity to improve their lifestyle with the financial services created for them.