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Mozambique Access to Finance Programme (MAFiP)

Mozambique Access to Finance Programme (MAFiP). Programme Overview. June 2013. What’s the target?.

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Mozambique Access to Finance Programme (MAFiP)

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  1. Mozambique Access to Finance Programme (MAFiP) Programme Overview June 2013

  2. What’s the target? Até final de 2022, pelo menos 35 por cento da população adulta e em idade laboral de Moçambique deverão ter acesso físico ou electrónico a pelo menos um serviço financeiro prestado por uma instituição financeira regulamentada … There is solid evidence to show that improving poor people’s access to a range of financial products boosts growth and reduces income inequality and poverty

  3. The Approach:“Making the Market Work for the Poor” The Financial Sector is a dynamic market…. … this requires a flexible response working with all stakeholders .... by stimulating change at the MACRO level • Objective is to systematically address market constraints to enable the “Financial Sector” to become more inclusive broadening and deepening products and services to (poorer) households and businesses • Programme will be flexible and responsive in a way that can identify needs as they arise in the market and provide appropriate support • Support interventions at the macro, miso and micro level Supporting real change at the MICRO..... .... by stimulating change MISO level

  4. The intervention logic

  5. What sort of interventions could this include… Consumer financial literacy Support to MSMEs to access Financial Services Consumer Protection FINSCOPE update Gender Analysis Collateral Registry Training for Financial Professionals Private Credit Bureaus Support links to Debt financing or Equity Capital Market Development Fund e.g. e-banking (incl. mobile banking), pension (public and private), insurance (incl. micro insurance) and housing finance

  6. The Project will run for 6 years and have a budget of ~ $20M+…. • Estimated USD 20 million (but may grow with other donors) • To be invested in a range of partners across the Financial Sector Market : • GoM to build the Policy and Regulatory Frameworks; • GoM and others to ensure a well functioning set of Supporting Functions • Households and MSMEs to build financial capability • Financial Institutions to support innovation • Clear investment guidelines to be established – but target will be “making the market work”, especially for the benefit of poor people…

  7. How will this be implemented? Donor Lead(6-7 months) • Enables a “quick start” (eg) • Conduct a FINSCOPE update to use as baseline • Conduct targeted support to inform Programme • Agree Governance structures (eg Programme Investment Committee - PIC) • Run International Tender for Service Provider and contract Service Provider(4 months: Inception Phase) • Service Provider set clear targets for Inception Phase Deliverables (eg) • 2 year Programme Plan and budget • Systems fully operational and relationships with key stakeholders built • Implemented quick win activities • PIC signs off on deliverables • Service Provider implements annual business plan as agreed by PIC • Quarterly formal update on progress presented by Service Provider • PIC reviews and approves investments over threshold agreed • Due diligence conducted on setting up Mozambican independent institution (eg a Foundation) and if agreed, new institution created Service Provider(2 years: Implementation) • PIC appoint key roles within the Foundation (egCEO and Directors) • Transition period with Service Provider to build capability and institutional knowledge • Foundation leads on implementation with Annual Business plan and key investments approved via the PIC Foundation(Up to the end of the project)

  8. THANK YOU! • Contacts: • Sérgio Dista, email: s-dista@dfid.gov.uk, phone: (258) 21351419 • Gareth Weir, email: g-weir@dfid.gov.uk, phone: (258) 21351414 JATBuilding, 25 de Setembro Avenue, 420, PO Box. 93 Maputo – Moçambique

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