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UNCDF data shows that only 25 per cent of adults in Senegal have access to a bank account of any kind, and this rate drops below 10 per cent in rural areas. As most of the population are unable to access any form of credit, they instead rely on traditional, informal rotating savings circles called tontines, usually managed by women. As these saving circles are operated manually, the risk of fraud and disputes is high and limits their potential.


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