On October 31, 1924, in Milan, Filippo Ravizza, advisor to the Lombardy Provinces Savings Bank, launched the first World Savings Day.

One hundred years later, this date remains a powerful symbol, inviting us to reflect not only on why we should save, but above all on how to give meaning to our savings.

Why save?

Saving is much more than simply putting money aside: it's about preparing, anticipating, and building.

The motivations are many:

• Coping with the unexpected 

     Precautionary savings allow you to build up a reserve for emergency situations: accidents, health problems, job loss, etc. Here, the security and availability of funds take precedence over returns.

• Realizing personal or family projects

     Buying a home, financing studies, starting a business, or going on a trip: these are all reasons that require planned savings over the medium or long term.

• Building or passing on capital

Savings can also be used to prepare for retirement, pass on assets, or support future generations.

Savings in Africa: a culture to understand and value

But a thorough investigation is needed to understand the financial culture of Africans and analyze the true objectives of their investments.

Savings are not made in the same way or with the same products depending on the reason (precautionary, project, or capital) and the investment horizon.

In the case of precautionary savings, the primary goal is security and immediate access to funds. Return is secondary.

In project-based savings, the investment duration and its nature become essential to achieving the set objective. These differences are fundamental to building a financial offering tailored to the needs of African populations, particularly those involved in the social and solidarity economy.

But what do banks do with our money?

A crucial, often overlooked question: how do financial institutions use the money we entrust to them?

Deposits fuel investment circuits, but all too rarely in projects with a local social impact. This is where solidarity finance becomes truly meaningful.

The solidarity fund: giving meaning to savings

Faced with this reality, ComDev Africa promotes the creation and strengthening of solidarity funds designed to finance social, agricultural, environmental, and civic projects.

These funds allow everyone to invest in useful, responsible savings that have a lasting impact.

We already support social entrepreneurs and organizations through programs such as Fin’ESS at zero interest rates so that finance becomes a true lever for social transformation.

Savings and investment: what do we need? 

The question is no longer simply “how much to save?” but “with what impact?”

Today, African citizens are increasingly seeking to align their financial choices with their values.

So, how can they save, and where?

Thanks to socially responsible finance, your savings can:

Support agricultural cooperatives,

Finance social startups,

Support high-impact community projects…

For example, DEREM.net is a platform that perfectly illustrates this approach: investing in people, in the local economy, and in a sustainable future.

We believe that finance must serve people and the planet.

Through our actions in support of the Social and Solidarity Economy, we advocate for a new culture of African savings: more inclusive, more conscious, and more impactful.

ComDev Africa