The Human Account is led, created and developed by Dalberg with Rockefeller Philanthropy Advisors, and funded by the Bill & Melinda Gates Foundation.

 

Local partners are Lagos Business School in Nigeria, Ashoka University in India, not-for-profit development finance company, Karandaaz in Pakistan, and research and advisory firm, Busara Center for Behavioral Economics in Kenya.

Determined Hustlers

21% of Myanmar | 11.2 million people

dynamic, driven, engaged

Click below to learn more:

Watch Htun's

Short Documentary

HTUN'S STORY

Meet Htun

 

“When our income gets higher, we can become more disciplined. At our current level, we have to

tap into our savings.”

Htun does good business at the betel nut stall he owns in Yangon. His sales are consistent, his customers are loyal, and he’s proud of his product. He’s also honored to participate in an invitation-only ROSCA run by the owners of other nearby local businesses. Their respect validates Htun, and he takes his commitment to regularly participate seriously. His path to the betel nut business wasn’t a predictable one. He finished school at 18 and left his upper middle class parents’ home to go to his uncle’s village where he hoped to learn the pharmacy business. For 7 years, he worked under his uncle’s tutelage and grew ever more confident in his ability to help care for the ill who came to the drug store. When he returned to his parent’s village at age 25, he started a drug store of his own with their support. From this business he earned enough to repay his parents and help support their household.

Having now repaid his parents, what long-term financial ambitions are Htun actively working towards for his future?

 
 

SEGMENT OVERVIEW

Determined Hustlers,

by the numbers

Like Htun, Determined Hustlers are mostly wealthier than average, young to middle-aged better educated men with highly active social networks. Approximately 11.2 million people (21% of the Burmese population) fall in this segment.

Determined Hustlers

Myanmar Average

GENDER (MALE)

63%

50%

AGE (25-34)

42%

23%

SOCIOECONOMIC (SES 4-5)

50%

40%

HIGH INCOME VOLATILITY

41%

38%

They are more likely than other segments to report high income volatility, likely owing to significant numbers in the segment holding positions as day laborers. Still, a majority report stable incomes, lifting their ability to shape their incomes above that of their expenses.

Financial Behavior & Attitudes

SAVINGS BEHAVIOR & ATTITUDES

Determined Hustlers save frequently and deliberately, bringing their reserve-building behavior in line with national averages. They would allot equal amounts to bank savings and to friends and family. These priorities are aimed at increasing their ability to grow finances, while cultivating social creditworthiness.

SAVINGS ACCOUNTS

They own and use formal savings accounts more than any other segment. While a quarter of save with family, one-third save in informal groups. They do not frequently use mobile savings accounts.

BORROWING BEHAVIOR & ATTITUDES

Though they are comfortable taking on debt, they borrow infrequently.

BORROWING ACCOUNTS

When Determined Hustlers do borrow, they rely more on informal group channels and rarely from banks. Virtually no segment in Myanmar demonstrates significant borrowing behavior through mobile money.

Determined Hustlers

Myanmar Average

Explore our complete set of findings:

 

DESIGN OPPORTUNITIES

How might we create products and services

for Determined Hustlers that...

Offer Short-Term Microcredit

Accommodate for their liquidity management challenges, by providing credit based on consistency of savings deposits

Track and Budget Expenses

Provide tools to help them plan household expenses with social financial networks

Facilitate Goal-Based Savings

Offer a dynamic savings plan that can easily shift to different investment opportunities over time as goals are reached

1

2

3