E Go Better Message Booklet
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The Film series 'E Go Better' was designed as an educative tool to enhance financial literacy among existing and potential clients of Microfinance Banks. The series is suited for screenings at workshops and trainings. The educative value of such screenings can be enhanced by discussions and Q&A sessions in-between the episodes. The Message Booklet contains suggestions and guidelines on how the educative messages of each episode can be highlighted effectively during these group discussions.
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E Go Better Message Booklet
- 1. How to use E Go Better as an Educative Tool to enhance Financial Literacy Message Booklet
- 2. 2 The Message Booklet Introduction TheFilmseries'EGoBetter'wasdesignedasaneducativetooltoenhancefinancial literacy among existing and potential clients of Microfinance Banks. The series is suited for screenings at workshops and trainings. The educative value of such screenings can be enhanced by discussions and Q&A sessions in-between the episodes. The Message Booklet contains suggestions and guidelines on how the educative messages of each episode can be highlighted effectively during these group discussions. Main Characters -The Farm Group Mangai Undu Plang Musa Apart from farming Mangai also works as a carpenter. He is in love with Azizah, the chief's daughter. He is convinced that he has to improve his financial situation before the Chief will give him any chance with the girl. Actedby:SamuelKunkurBature Undu has a small cloth shop. She likes the sunnysideoflife.Aftershelearnsabout'Power Finance', a place where people triple their money within a few months, her life changes drastically. Actedby:DeborahDaniels PlangisMusa'swife.Apartfromhelpingatthe farm she also owns a small place where she sells food. She likes to experiment with new recipes. Currently she works on the perfect recipe for potato cake. Actedby:NiriPatienceDang Musa is Mangai's uncle. He is a true farmer and very skeptical of any kind of financial institutions. It is important for him to be treated fair and with respect. Actedby:ZumjiThomasDangana
- 3. 3 The Message Booklet Messages and Objectives: Introduction of major characters and plot Introduction of a potentially profitable investment idea for farmers (storehouse) Suggested Questions: The first episode does not contain any technical information on Microfinance, but the group could be warmed up with a Q&A session on the issue of the storehouse. Why do the farmers have to sell their potatoes at such a low price? A:Becauseitispeakseasonandtherearetoomanypotatoesinthe market. What kind of invention does Mangai come across which could help the whole group to make more money at the market? A:Thestorehouse For how long can the potatoes be stored safely in the storehouse? A:Sixmonths How can the group make money from the storehouse? A:Thefarmerscanstoretheirpotatoesuntilthemarketpricerises andsellatabetterprice. Episode 1 Ogas Price
- 4. 4 The Message Booklet Episode 2 Money dey Talk Messages and Objectives of the Episode: Savings and loans go hand in hand. In order to access a loan you first need to have a savings account. Explanation of collateral In Microfinance there is no collateral, instead the bank needs to establish a relationship with their clients and assess their ability to re-pay a loan. Differentiation between ordinary Microfinance Institutions and proper Microfinance Banks NDIC sticker as an orientation to identify regulated Microfinance Banks There are accessible places which render financial services especially designed for people with low income Introduction to the practices ofWonder Banks Suggested Questions: What is a collateral? A:Somethingofgreatvaluewhichservesasaprotectionforthebankin casetheborrowerdoesnotrepaytheloan.Thevaluehastobeenoughto covertheloanamountplusinterest.
- 5. 5 The Message Booklet Do you need a collateral to access a Microfinance loan? A:No What does the Microfinance Bank need instead of the collateral? A:Itneedstoestablisharelationshipwiththeclientandneedstobeableto trustpersonalityandbusinessideaoftheclient. What is the very first step you need to take in a Microfinance Bank, before you can start to think about a loan? A:Asavingsaccount-youneedtobeaclientofthatbank. What are the minimal requirements after you have opened a savings account, before a Microfinance Bank can trust you with a loan? A:Youneedtobearegularclientforacertainamountoftimewhichmeans thatyouneedtobringinyoursavingsregularlyandconsistently.Also,you needtosaveupacertainamountofyourrequestedloan. What are the specific minimal requirements in the example of the film? How much of the loan amount of 200.000 NGN does the group have to save and how long do they have to be with the bank? A:Theyhavetosave10%or20.000NGNoveratimeperiodofthree months. Apart from the administrative requirements, you need to convince the bank of something before they are going to be willing to give out their money to you - what is that? A:Yourbusinessidea,youneedtoconvincethebankofthefactthatyou aregoingtoinvestthemoneyintosomethingprofitable. What is the major difference between usual Microfinance Institutions and actual Microfinance Banks? A:MicrofinanceBanksareregulatedbytheCentralBankofNigeriaand havetheirsavingsinsuredbyNDIC.
- 6. 6 The Message Booklet Suggested DiscussionTopic: Why do you think Microfinance Banks want to know everything about your investment and why do they have all these requirements like the waiting period and the minimal savings before they give out a loan? Keyaspects:Absenceofacollateralcreatestheneedforalternativesecurity againstthedefaultoftheborrower;thebankneedstobesurethatyour proposalisviable;acloserelationshipbetweenclientandbankisabasic requirementforMicrofinance. Additional Characters Loan Officer Martins is the major source of information on Microfinance. He assesses the individual businesses of the group, gives adviseonfinancialmanagementandpatiently explains everything the group wants to know about banking. Actedby:OnwukaGentileKingsley Mr. Williams is introduced to the community as a man with vision. He recently opened a financial institution called 'Power Finance'. The services he offers seem almost too sweet to be true - but the Pastor himself testifies for his reliability. Actedby:AlfredBakerMgebejume Azizah is Chief Alhaji's daughter. Mangai is in lovewithher.Herfatherprotectsherverywell and it seems there are no real chances for the young farmer to even get close enough to tell her about his feelings. Actedby: BlessingLekshakDenan Chief Alhaji is respected as a smart business man and traditional leader. The whole community impatiently awaits the marriage cermony for his second wife Rashida. Actedby: BalaBamaiyi Martins Williams Azizah Alhaji
- 7. 7 The Message Booklet Episode 3 Make we Gather Messages and Objectives: Introducing an income and expenditure calculation Microfinance Banks are non-charitable organizations, you have to repay your loan with interest. Calculation of the cost of a loan: A loan is not cheap, use it wisely! Make sure you understand the price of your loan. Dont be shy to ask for further explanation and clarification, if needed. After you have gone through the process to show your financial credibility, you are rewarded with the trust of the bank and access to cash. It is good to share responsibility - form a group and take a collective loan. Suggested Questions: Are Musa and the other farmers taking the loan individually or as a group? A:group What is Musas group doing in order to make sure everybody is taking up the necessary responsibilities like e.g. the regular payments of the loan instalments? A:Theyformalizeintoagroup,adoptby-lawswithcommonrulesforall membersandelectofficialsforcertaintasks.
- 8. 8 The Message Booklet What do you need to do if you want to get a clear picture of your regular income? A:incomeandexpenditurecalculation So how can you do this income and expenditure calculation? A:Youneedtonotedowneverydayhowmuchyouhavespentand howmuchyouhaveearnedfromyourbusiness.Yousubtractthe expenditurefromtheincomeandnotethesumasyourdailycashflow (profitorloss). What is the main advantage, if you have a clear picture of your regular income? A:Knowledgeabouttheprofitabilityofyourbusinesswillhelpyouto planaheadforfutureinvestments.Itwillalsohelpyoutoknowwhatkind ofloansettlementsyoucanafford. When you repay a loan, are you going to give the bank more or less money than what you received? A:significantlymore How much money is Musas group receiving and how much do they have to pay back including all charges? A:Theyreceive200.000NGNandhavetopaybackalmost250.000NGN. Why does Mangai tell Musa they should still go ahead with the loan, even though they are charged a total of 50.000 NGN for their loan? A:HetellsMusa,thattheywillbeabletomakemoremoneywiththe storehouseafterafewharvests.So,iftheydontbuildthestorehouse,they willactuallylosemoremoneyatthemarket. Throughout the film series animations illustrate the major messages and visualize the loan calculation.
- 9. 9 The Message Booklet Suggested DiscussionTopics: Why do you think the bank is charging a relatively high amount? Keyaspects:MicrofinanceBanksarebusinessventuresandhavetomake profit;comparedtocommercialbankstheyarefacedwithhigher administrativecostsinthedaytodaydealingswithloangroups;the bankhastomanagerisks,managingtheserisksinvolvescostswhich needtobecoveredbyreturns. What are the pros and cons of taking a group loan? Keyaspects:Asagroupyoucanapplyforhigherloansandthe responsibilityisdistributedonmoreshoulders;youdontstandaloneinthe financialstruggle;inagroupyouneedtocreatebindingrules,which everyonehastorespect;withinthegroupyouhavetobeabletotrustone another. Loan Officer Martins explains the income expenditure calculation with patience to all members of the loan group. He is impressed by the fast successes of the group.
- 10. 10 The Message Booklet Episode 4 Awoof Dey Run... Messages and Objectives: To achieve a dream or a financial goal you need to set priorities and use your money productively. Be aware ofWonder Banks!! Avoid having to ask other people for money. Responsible money management can spare you and your family many troubles in life. Suggested Questions: Why did Mangai change his decision to interfere as he saw Azizah dancing with another man and he returned the money into his pocket? A:Heknewheneededthemoneytopaybacktheupcomingloan instalmentforthestorehouse.Aflashbackoftheladyatthemarket remindedhim,thattoachievehisdreams,hewouldhavetogothrough toughtimes. What did Chief Alhaji say about the storehouse? A:Hesaid,itwasagreatideatoachieveabettermarketvaluenotonlyfor potatoesbutforothercropsaswellanditcouldreallydevelopthe community.
- 11. 11 The Message Booklet Why did Undu have to go and ask Alhajis wife Rashida for money? A:BecauseshelostallhermoneytotheWonderBankPowerFinanceand cantpayforthemedicineofherchild. What was it that attracted Undu so much to Power Finance? A:Thehighinterestrateortheprospecttomakehighandquickprofits Suggested DiscussionTopics: What do you think about the idea of the storehouse? Is it a good investment idea or not? Keyaspects:Thecostsforastorehousearenottoohighandthefluctuation ofpricesisverystrong,whichcreatestheopportunitytoincreasethe income;butitwilltakesometimebeforethecostsofthestorehouseare regained. What different approaches did you observe between Undu and Mangai in the way they handle their money? Keyaspects:Unduwantstogainfastandlikestospendonnewclothes andshinythings,Mangaiplansoveralongperiodoftime,pursues acleargoalandresiststemptations. Wonder Banks: Have you come across one before? How are they operating? What makes them so attractive?Why are they dangerous? How can you protect yourself against them?
- 12. 12 The Message Booklet Episode 5 An August Visitor Messages and Objectives: Explanation of interest Function of the National Deposit Insurance Corporation (NDIC) Be aware of the penalties if you do not pay back your loan on time.These penalties will further increase the cost of your loan. A successful loan re-payment gives you better access to new loans, can increase the loan amount and decrease the costs. Once again: Be aware ofWonder Banks! Suggested Questions: What did pastor Raymond say about the strategies of Power Finance?Why did he initially invite people to join theWonder Bank? A:AcommonstrategyofWonderBanksistouseprominentcommunity memberslikepastors,traditionalleadersorimamstoadvertiseforthe bank.Theywillactuallypayoutgoodprofitstotheseclientsinordertolure morepeopleintothescam. What does Mangai say would happen if the group was not able to pay their loan instalment in time? A:Thegroupwouldbeconfrontedwithpenaltychargesandanyfuture cooperationwiththebankwouldbedamaged
- 13. 13 The Message Booklet What is Ms Gloria offering Musa and Mangai after the group has re-payed all their instalments in time? A:Shesaid(one)thebankwillbemoreinclinedtopayoutasecondloan, (two)therewouldbenomorewaitingperiod,(three)thegroupcouldapply forahigherloan,(four)thechargesoftheloancanbereduced What service is NDIC offering to the clients of Microfinance Banks? A:NDICinsuresthedepositsofallclientsupto200.000NGN There are two groups in a Microfinance Bank: Group A has saved 150.000 NGN and Group B 220.000 NGN.The bank collapses and NDIC comes to compensate the groups. How much does Group A receive and how much Group B? A:GroupA:150.000NGN;GroupB:200.000NGN Suggested DiscussionTopic: Why do you think it is important to pay back loan instalments on time? Keyaspects:Otherwiseanyoptionsforfutureloansareheavilyreduced;if thebankdoesn'tgetbackthemoneyitcantpayoutloanstoother groups;agoodcooperationbetweenbankandclientbringsbenefitsfor both. Undu is seeking advice from God after she lost all her money to the Wonder Bank 'Power Finance'.
- 14. 14 The Message Booklet Episode 6 Hamma Messages and Objectives: Set financial goals and try to achieve them step by step. Invest wisely and innovatively. Saving money is an essential step to achieve your financial goals. A well planned loan is a powerful catapult for your business idea. If you work hard for a dream, even the most unbelievable ones can come true - Microfinance could help you along the way. A mysterious lady at the market gave Mangai the hint for the storehouse, she also offers him an amulet that could help Mangai in his approaches towards Azizah.
- 15. 15 The Message Booklet Credits Mangai Loan Officer Martins Sista Undu Uncle Musa Aunty Plang Chief Alhaji Bello Pastor Ms. Gloria Wonder BankWilliams Mysterious MarketWoman Azizah Rashida (Alhajis 2ndWife) Samuel Kunkur Bature Onwuka Gentile Kingsley C. Deborah Daniel ZumjiThomas Dangana Niri Patience Dang Bala Bamaiyi Dan Fidelis Assam Johnson Chinyere Alfred Baker Mgbejume Queen Kwashi Blessing Lekshak Denan Peace Nancy Script/ Director/ Film Editor/ Producer Script/ Production Manager/ Ass. Producer Camera/ Light Animation Script/ Production Ass. Music Co-Scriptwriter for Educational Messages Project Coordination GIZ Nigeria Project Coordination GIZ/EU Plateau Project Pre-Production and Script Support Steffen Ulrich Sylvia Hoster Martins Gumut Florence Lot Abel Dassah Stella Dimlong Johannes Preuss Maryam Nafit Shehu Imogie George Joel Jibril Mailafia Ibrahim B. Zubairu Oluwatosin Falusi Major Cast Production Crew Project Support Produced by j.f.p. films & LOL Studios E Go Better-The MicrofinanceWayby the GIZ-SEDIN Programme is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License. Nigeria, 2014
- 16. This project is funded by Implemented by In Cooperation with the GIZ-SEDIN Programme This publication has been produced with the assistance of the European Union. The contents of this publication are the sole responsibility of j.f.p films and can in no way be taken to reflect the views of the European Union. The European Union 1st Edition March, 2014 Jos, Plateau State, Nigeria j.f.p. films Kufsteiner Str. 7 10825 Berlin jf.preuss@gmail.com Published by: