Study and recommendations for regulators to drive the digital transformation of microfinance in Africa

The intersection of digital technologies and microfinance is one of the focus areas of AFI, especially given the opportunities technology provides in enhancing microfinance institutions (MFIs), at the MFI level (improved efficiency, reduced costs, etc.) and at the customer level (convenience, digital footprint, etc.). AFI commissioned this study to provide more efficient and relevant guidance to its members (financial regulators and supervisors) in the area of digitization of microfinance services.

Digital Transformation of Microfinance and Digitization of Microfinance Services to Deepen Financial Inclusion in Africa

Understand the synergy between digital financial and microfinance institutions in providing access to finance to individuals and small businesses

Development of digital credit and savings product for a Microfinance Institute (MFI) in the Congo (DRC)

The MFI in DRC – in partnership with a mobile network operator (MNO) – is willing to launch a digital savings and loans product. The MFI is supplying its credit license and manages the savings and credit risk. The MNO is also providing its customer base and its agent network.

Evaluate scaling-up financial services delivery program

In cooperation with The MasterCard Foundation, the International Finance Corporation (IFC) is implementing a program intended to accelerate the reach of financial services for the poor in sub-Saharan Africa, through two main workstreams.

Urwego Opportunity Bank (UOB) Branchless Banking (mHOSE) Evaluation – Rwanda

UOB launched in 2013 mobile and agent (branchless) banking (mHOSE) for its customers to have better access to UOB savings accounts, allow repayments of loans via the mobile phone, and to offer benefits such as a life insurance and the capacity to transfer money and pay bills, using the mVISA platform.