Our Objective
To expand the knowledge of the vulnerable entrepreneurs we support by offering them training in finance, business management, digital skills, leadership… so that they can advance their businesses and improve their quality of life.
Commitment
FMBBVA believes that Education contributes to the development of individuals and countries. The Foundation is committed to enhancing the training of vulnerable entrepreneurs it serves by providing knowledge that goes beyond financial education, putting technology and innovation at their service to improve their businesses.
Challenge
Education is the greatest deficiency among the people we assist, as shown by our multidimensional poverty data. In 42% of households, there is at least one adult over 40 years old who has not completed the minimum years of schooling appropriate for their age.
The entrepreneurs we work with are from a vulnerable population segment, with a low level of schooling, as 30% have at most only primary education and most have not completed secondary education.
In the case of women, although 38% of those we assist have basic education, the majority lack the necessary time to train due to unpaid domestic and caregiving work.
Opportunity
Aware of the importance of education for the progress of individuals, their businesses and the well-being of their households, the Foundation promotes training, capacity building and support, tailored to their needs to help them thrive.
We ensure that the financial advice and education offered by entities are short, concise sessions that get to the essentials while providing knowledge and value. And we have longer programs that develop over time to consolidate the acquisition of new knowledge and skills.
In 2023, more than 662,000 people received financial advice, training, or viewed training sessions at the BBVA Microfinance Foundation entities through various digital and in-person platforms and channels.
Strategy
Since the beginning of our activities, offering financial education has been part of our productive finance methodology.
Financial education is essential for fostering economic inclusion as it equips people with the necessary skills to manage their resources and improve their financial health. Providing tools for informed decision-making, allowing them to manage their personal and business finances, is crucial for their sustainability and ensuring long-term stability.
With the focus on serving and offering the best value proposition to vulnerable entrepreneurs, FMBBVA has expanded its training strategy with a more comprehensive curriculum that includes digital skills, business management, sustainability, personal empowerment and vocational training.
Additionally, aware that training should not be limited exclusively to our clients but extend to all entrepreneurs in the country/region, in recent years, all our entities have developed free and open-access digital learning platforms.
On the other hand, we have financial products such as educational loans since paying for school and university tuition represents an extraordinary expense that many of the families we serve find difficult to afford.
Training Programs
“Echemos Números” from Bancamía: Training in business development, empowerment and gender, family well-being, and social capital. 305,405 people in 2023. 46% of the total.
“Aprendiendo en Confianza” from Financiera Confianza: Monthly training in financial education, business strengthening, empowerment & leadership for clients who are part of the “Palabra de Mujer” financial product.68,351 people in 2023, 10.3% of the total.
“Comunidad Emprendedora Digital” from Banco Adopem: Creation of the ecosystem to train 5,000 women in 3 years in digital skills, digital business management, digital payments, financial health, and leadership. 1,000 people in 2023, 20% of the total project.
“Escuela de Emprendimiento” from Fondo Esperanza: combines in-person and virtual group sessions with a digital platform. Training in business development, empowerment and gender, family well-being, and social capital. 114,312 people in 2023, 17.3% of the total.
“Saquemos Cuentas” from Microserfin: Training in financial health, savings, business management, insurance. 23,828 people in 2023, 3.6% of the total.
Our digital platforms at the entities:
Escuela de Emprendimiento Digital
Educational Loans
We promote the education of entrepreneurs through educational loans at our entities in Peru (Educational Loan), Colombia (Educational Development Loan), and the Dominican Republic (EDUCAT), which finance training programs as well as school tuition for entrepreneurs’ children and the acquisition of necessary computer equipment (computers, tablets, etc.).
Banco Adop
em in the Dominican Republic has been offering EDUCAT for 7 years, providing credit for school tuition and educational expenses for children and adolescents. In 2023, 1,968 people benefited.
In Colombia, Bancamía has offered the Educational Development Loan since 2020, for training and acquiring technological equipment. In 2023, 166 people benefited.
In Peru, Financiera Confianza offers the Educational Loan since 2022, for training and acquiring educational technology. In 2023, 126 people benefited.
Looking Ahead
The Foundation will continue to expand training programs and educational loans in the coming years, focusing on covering all the needs of vulnerable entrepreneurs.
We will strengthen partnerships and strategic alliances to increase the coverage and impact of our educational programs and financial products.
We will explore and implement new digital training solutions to provide more accessible and flexible learning opportunities, enhancing the sustainability of the businesses of our entrepreneurs.