Understanding the (Un)met Saving Needs of Poor Urban Liberians in the Informal Sector

Gisela is among the large and diverse group of informal sector workers in urban Liberia who lack social protection coverage, have little interaction with formal financial institutions, and depend on informal saving groups to meet their financial needs. The financial vulnerability that this group faces not only puts their welfare at risk but also under-mines the economy at large. Despite the potential risks, there is little systematic information on how the urban informal poor in Liberia save, their saving aspirations, and what they need to save better. This report explores the saving behavior and aspirations of urban informal households in Liberia by presenting the findings from a survey of 1000 households in Monrovia, supplemented by an assessment of Liberia's existing informal savings institutions