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AFC experts in Mozambique, along with TabluTech, a selected technology vendor, are helping GIZ in designing a mobile application that can help informal savings groups to digitalise their group meetings, supported by GIZ’ NGO partners. The app will help the groups to leverage their financial data and information, to avail and access better products and services from the formal financial sector at an affordable price.
The operations of these savings groups remain paper-based. This means that there is a paper register maintained by elected group members that inscribe the cash inflows and outflows of each individual group member. In turn, every group member has a booklet where they note every deposit or loan they have taken. This system is completely manual and prevents the members from building a digital record of their financial history (deposits, savings and loans they have taken).
Picture: AFC expert supporting the GIZ team to conduct market research for designing the app to digitise the informal saving group meetings.
We have been assisting GIZ in managing the procurement process for the technology vendor and this month, helped the technology vendor to carry out market research for the development of the app, with project beneficiaries in Zambezia. The objective of the research was to understand the requirements and needs of the saving groups for designing the application features necessary to replace the current paper-based system. Based on the market research findings, the draft application will be designed and a pilot test conducted with selected groups. Based on the pilot test results the application will be finalised and GIZ’ partner NGOs will help to roll-out the application.
Picture: Informal saving group member counting cash collected during the meeting
We are implementing the "Financial System Development" project in Mozambique since December 2019, on behalf of GIZ, aiming to improve the conditions for a competitive private and financial sector in Mozambique. Our team works closely with key stakeholders such as the Banco de Moçambique, the Mozambican Banking Association, financial service providers, and NGOs, aiming to bring about significant changes in the financial inclusion landscape and enhance access to financial services for MSMEs in rural areas.
We want to ensure that 200,000 MSMEs, with a significant representation of women, utilize formal financial services. Therefore, we are i) collaborating with the Central Bank and commercial banks to improve financial inclusion through new regulations; ii) empowering the Banking Association and Central Bank staff through training in new business models and market conduct supervision; iii) researching and implementing strategies to reduce gender gaps in financial inclusion; and iv) advising banks on setting up agency banking and expanding banking products in rural areas.
Picture: Visit to a farmers' cooperative
For more information please contact Vladislav.Nimerenco [at] afci.de