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Building Assets, Unlocking Access Centenary Bank Building Impact Evaluation Report Assets, December 2018 Unlocking Access Elaborated by: Document reference: Authors Table of contents Habitat for Humanity Terwilliger Center for Innovation in Shelter and Genesis Analytics (Pty) Ltd. Executive summary .......................................................................................................................................................1 Centenary Bank — Building Assets, Introduction ...........................................................................................................................................5 Unlocking Access: Centenary Bank Housing Microfinance Impact Johannesburg, South Africa Country context and project background ..................................................................................... 7 50 Sixth Road, Hyde Park, Johannesburg Evaluation Final Report Physical: The need for housing .........................................................................................................................................7 Postal: P.O. Box 413431, Craighall, 2024, South Africa Uganda ......................................................................................................................................................................7 Telephone: +2711-994-7000 Date: The intervention: Building Assets, Unlocking Access ........................................................................8 Registration No. 1998/001950/07 December 2018 Centenary Bank’s Centehome Loan product .........................................................................................9 Nairobi, Kenya Theory of change ...............................................................................................................................................10 Physical: 4th Floor, West Park Suites, Ojijo Road, Parklands, Nairobi Objectives of the evaluation .........................................................................................................................12 Postal: P.O. Box 76608-00508, Nairobi, Kenya Evaluation method ............................................................................................................................. 15 Telephone: +254-701-945-800 Evaluation design ...............................................................................................................................................15 Registration No. P051570125T genesis-analytics.com Sample selection ................................................................................................................................................16 Survey instrument design...............................................................................................................................21 Limitations, risks and mitigation strategies ..........................................................................................24 RWI - Leibniz Institute for Economic Research Findings ............................................................................................................................................... 28 Impact on housing ............................................................................................................................................29 Essen, Germany Health outcomes ................................................................................................................................................41 Physical: Hohenzollernstrasse 1-3 45128 Essen Mental health .......................................................................................................................................................43 Postal: P.O. Box 10 30 54 45030, Essen Impact on economic welfare .......................................................................................................................44 Telephone: +49-201-8149-0 Educational outcomes ....................................................................................................................................54 rwi-essen.de Social power ........................................................................................................................................................56 Conclusion .......................................................................................................................................... 63 Contacts Appendix A: Statistical approach ................................................................................................. 66 Amreen Choda Appendix B: Attrition ........................................................................................................................ 68 Email: [email protected] Appendix C: Propensity score balancing ................................................................................... 69 Annekathrin Schoofs Figure list Email: [email protected] Figure 1: Building Assets, Unlocking Access project theory of change ...........................................10 Figure 2: Impact evaluation classification and geographical spread of selected branches ..17 Noel Verrinder Figure 3: Sample population by treatment branch at baseline and endline ...................................19 Email: [email protected] Figure 4: Sample population by control branch at baseline and endline ........................................19 Figure 5: Attrition rate between baseline and endline .............................................................................20 Thandiwe Ng’ombe Figure 6: Reported use of CenteHome Loan at baseline .......................................................................31 Email: [email protected] Figure 7: Graphical explanation of the difference-in-difference approach....................................66 BUILDING ASSETS, UNLOCKING ACCESS CENTENARY BANK IMPACT EVALUATION REPORT Acknowledgments Executive summary Habitat for Humanity’s Terwilliger Center for Innovation in Shelter Habitat for Humanity’s Terwilliger Center for Innovation in Shelter Genesis Analytics, along with the Leibniz Institute for Economic Research, or RWI, were contracted would like to thank and acknowledge Centenary Bank; its board would like to thank our valued partner the Mastercard Foundation of directors; and its senior management, led by the managing for its support of Building Assets, Unlocking Access: Shelter by Habitat for Humanity’s Terwilliger Center for Innovation in Shelter to conduct an impact evaluation director, Fabian Kasi, for their dynamic approach and commitment Solutions for the Poor. of the Building Assets, Unlocking Access project in Uganda. to serving the low-income population with innovative and impactful products like the CenteHome Loan housing microfinance product. We would like to acknowledge the steering committee of the Their passion and commitment to the success of this study and impact evaluation: Sandra Prieto, Ruth Dueck-Mbeba, Mike Building Assets, Unlocking Access was a six-year project in Africa implemented by Habitat for keen interest in the objectiveness and relevance of the study not Williams, Dennis Haraszko, Erin O’Neill, Patrick Kelley and Kevin Humanity’s Terwilliger Center in partnership with the Mastercard Foundation to provide technical only for Centenary Bank but also for the banking and housing Chetty. Their leadership to shape the impact evaluation approach industries and the African context have been instrumental for the and implementation was instrumental to the successful completion assistance to six leading financial institutions in Uganda and Kenya as they developed housing successful completion of the study. of the study. microfinance products and nonfinancial support services for people living on US$5-10 per day. We also wish to acknowledge Centenary’s Microcredit team, led In addition, we would like to thank our Building Assets, Unlocking The aim was to enable these people to secure adequate and affordable housing and improve their by Robert Canwat Opobo, who worked tirelessly to coordinate this Access project implementing team, led by Ruth Odera. Their work living conditions progressively with small, short-term loans that have affordable payment schedules, study, alongside Habitat’s Terwilliger Center team, and the branch to advise the design, pilot testing and rollout of the CenteHome allowing them to complete incremental construction on their homes. staff who tirelessly mobilized the clients for this evaluation. In Loan and their support to implement the impact evaluation were pursuit of its social performance management strategy, Centenary invaluable. Bank resolved to partner with Habitat for Humanity’s Terwilliger In 2015, after the successful design of the CenteHome Loan housing microfinance product as Center and the Mastercard Foundation to conduct this impact Last but not least, we would like to thank Genesis Analytics. Their evaluation on the CenteHome Loan product, developed under the professionalism and capacity to implement the impact evaluation part of the Building Assets, Unlocking Access project, Centenary Bank partnered with Habitat’s Building Assets, Unlocking Access project. Special thanks to the has been an asset to successfully completing the evaluation. Terwilliger Center to conduct the impact evaluation with a sample of clients of the new product and Centenary Bank clients and their families who were interviewed a group of control branches. This impact evaluation assesses the attributable impact that Building in this study for their time and the valuable information
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