| In the West African nation of Senegal, fewer than 10 | | | | dollars. We were shocked, why did they take out |
| per cent of people have accounts at traditional banks. | | | | this ten dollars. When we went to the bank, they |
| Such accounts have traditionally been seen as only | | | | told us it was for insurance," she says. |
| for the very rich. But a growing network of branches | | | | Seck says the bank also debits just over two dollars |
| extending into more remote areas means that more | | | | every three months for maintenance costs. |
| people than before have access to banks. Naomi | | | | But despite these costs, she says the bank account |
| Schwarz visited on the outskirts of Dakar with a new | | | | has helped her save more money than before. "In |
| mother who has a savings account. | | | | the house, it is no good, because you can spend the |
| In a one-room apartment on the outskirts of | | | | money. At the boutique it was better, but when you |
| Senegal's capital, Dakar, Margot Seck is cooking lunch | | | | have problems, you can go straight to the boutique |
| on her small balcony. She is using her short maternity | | | | and take the money. But when it is at the bank, |
| leave from her job as a cashier to set up the | | | | sometimes you are slower to withdraw your |
| apartment. | | | | savings," she says. |
| Search Engine Marketing Specialist | | | | Despite Seck's story, most Senegalese do not have |
| Since 1995 SEO/SEM tools, training, and professional | | | | bank accounts. |
| "full service" Search Engine Marketing help at very | | | | Oumar Diene, of the Senegalese non-governmental |
| affordable rates. | | | | organization CRESP, says this may be changing. "We |
| Since she is not working now, she has been spending | | | | have the impression that these days, there is an |
| from her savings. But ever since the 25-year-old | | | | accent on potential clients who, until now, have not |
| came to Dakar from herfamily's village and began | | | | been taken into account by the big banks," he says. |
| working, she has been putting aside a small portion of | | | | He says that banks are directing their marketing |
| her paycheck for just such an occasion. "When I was | | | | campaigns at university students, many of whom |
| paid my salary, I would spend what I needed, and I | | | | have little or no income. He also notes the increasing |
| would bring the rest to the corner shopkeeper to | | | | number of bank branches across the country. |
| hold on to for me," she says. | | | | But obstacles are still keeping many Senegalese from |
| Two years ago, with the help of her boss, Seck | | | | opening accounts. |
| opened an account at one of Senegal's commercial | | | | Mohammed Wilson, a director at Senegal's CBAO |
| banks. | | | | bank, says one obstacle is a culture that prefers cash |
| Seck's boss advanced to her and three co-workers | | | | transactions. He says Senegalese are wary of |
| the 150-dollar minimum deposit the bank required, and | | | | entrusting their money to someone else, and they |
| she helped them acquire thenecessary papers. | | | | are unfamiliar with how banks work. |
| Seck goes to a small bedside cabinet and pulls out a | | | | But even for those who are interested in bank |
| simple wooden box with a lock. | | | | accounts, the minimum deposit can seem |
| She unlocks the box and takes out the papers, | | | | overwhelming, especially for non-salaried workers |
| explaining that before she moved in with her | | | | whose income varies from week to week. Wilson |
| husband, she shared a room with many single | | | | says the minimum deposit is required for the banks |
| cousins, and the locked box was needed to keep her | | | | to cover their operating costs. He says if more |
| finances private. | | | | people had bank accounts, the banks would be able |
| She says she told only her brothers and sisters about | | | | to reduce the minimum deposit and also the fees. |
| the bank account, and just recently, her husband. | | | | Since so many businesses rely on cash transactions, |
| "Ah, when you say that you have an account, people | | | | Wilson says his branches must be prepared for large |
| will think that you have a lot of money, even though | | | | cash withdrawals. This would be less of a burden if |
| it is nothing." | | | | more people had accounts, and money could change |
| Seck says the bank takes money out of her account | | | | hands invisibly, through checks. |
| for various fees. "The first month, they took out 10 | | | | |