Financial education: A catalyst for transformation for cotton producers and artisanal gold miners in Mali

Sikasso, Mali (ILO News) – In November 2024, as part of the ACCEL Africa project, the International Labour Organization (ILO) organized an innovative workshop in Sikasso, Mali, bringing together 30 leaders from the cotton and artisanal gold mining value chains. The aim of this gathering was to co-design a financial education intervention for members of cooperatives and savings and credit groups supported by the project.

Financial education provides essential knowledge and practical tools to break the cycle of poverty, which is often a key driver of child labour. By promoting budgeting skills, saving practices, and access to financial services, this initiative contributes to the prevention and remediation of child labour, while improving the well-being of vulnerable families.

Linking financial education to the reduction of child labour

Financial education addresses root causes of child labour, including:

• Cost and quality of education: Planning school expenses to keep children in school.
• Economic vulnerability: Connecting financial education with protective financial services and business development.
• Income poverty: Linking productive loans with management training and financial education.

Samuel Zonou, a representative of the cotton producers, stated: “If we learn to better manage our businesses, we can do without child labour and allow our children to go to school.”

Promising results

The workshop laid the foundation for a broader intervention, with participants motivated to apply the tools they learned to transform their financial practices and reduce their reliance on child labour. Amadou Diallo, a representative of the gold miners, expressed his gratitude: “We are leaving motivated to support the implementation of this financial education intervention, with tools to promote children's schooling. This is not just a training; it’s a commitment to positive transformation.”

A sustainable vision for communities

By integrating financial education into the cotton and artisanal gold mining value chains, the ACCEL Africa project demonstrates that concrete actions can have a significant and lasting impact. This initiative embodies the ILO’s commitment to supporting local communities in their fight against child labour and in building a better future.