Futuro Microbank


Increased availability of financial services to the rural population is one of the main objectives of the Government as defined in the 5-year Government Plan 2015-19. This project aims at offering diversified financial services to micro and small entrepreneurs, men and women farmers who are part of the 85% not having access. Those services will be delivered in a professional and profitable manner by a micro-bank, which will further expand to strategic areas in rural and peri-urban Mozambique. 

Paese/Regione Tema Periodo Budget
Mozambico
Impiego & sviluppo economico
Agricoltura e sicurezza alimentare
Supporto commerciale & inclusione economica
Sviluppo delle piccole e medie imprese (PMI)
Sviluppo agricolo
01.04.2018 - 31.12.2019
CHF 1'800'000
Contesto

Mozambique has been one of the most dynamic economies in Africa, but it remains one of the world’s least developed countries. Growth has not translated into structural transformation and poverty reduction has stagnated. One of the major bottlenecks for this inclusion is the almost non-existence of financial services for small enterprises and farmers in the rural area.

In line with the National Strategy for Financial Inclusion 2016-22, the SDC Country Strategy 2017-20 and the Federal Dispatch 2017-20 priority themes, SDC supports the re-opening of a micro-finance bank that serves the low segments of the population in Northern Mozambique, particularly women. The bank was inaugurated in October 2017 with the new name Futuro Microbank. SDC has been driving Futuro Microbank as its primary capital investor and initial shareholder. SDC does not wish to commit any further capital investment into the bank. The investor portfolio needs to be diversified. Other like-minded investors who share the same commercial and / or social development goals will join this important initiative. Nevertheless, for the moment, the bank requires short to medium-term technical assistance support. Through this Credit Proposal, SDC is committing funding for Technical Assistance until 2019.

Obiettivi Increase of employment, income and wealth of rural and urban poor in Northern Mozambique through increased availability of financial products tailored to their needs.
Gruppi target
  • Women micro-entrepreneurs;
  • Smallholder farmers;
  • Small entrepreneurs (gender disaggregated).
Effetti a medio termine
  • Access and proximity to diversified financial services by low-income rural and urban men and women in Northern Mozambique is increased.
  • Diversified palette of financial services offered by the new bank, which will include products targeting poor small men and women farmers to increase their assets and lift them out of poverty.
  • Broadening of the bank’s investor base in order to allow bank consolidation, expansion and bigger coverage.
Risultati

Risultati principali attesi:   A solid and financially sustainable micro-bank that will branch out within five years, serving 6,000 small solidarity groups with average 5 members each and a total outreach of over 27,000 clients.


Risultati fasi precedenti:  

A microfinance institution is needed to cater for the lower segments of the population who live in a vicious poverty cycle. The previous phase (previous bank) was able to reach out to 11’000 clients with one bank branch only. For the new bank, there is need to:

  • Focus on broadening the investor base. SDC will phase out from the bank after break-even in 2020.
  • Build a stronger and more suitable management team, building a more professional field sales team, building a quality loan portfolio quickly enough, and preventing arrears at risk (late repayment).
  • Procure technical assistance to ensure that this critical element of the bank becomes easier and more effective.


Direzione/Ufficio responsabile DSC
Credito Cooperazione allo sviluppo
Partner del progetto Partner contrattuale
Economia privata
  • Settore privato straniero Sud/Est


Altri partner
Other microfinance institutions and potential future investors.
Coordinamento con altri progetti e attori Central Bank of Mozambique, the Micro Finance Association, the National Directorate for Rural Development, Financial Sector Deepening Project (FSD Moz), INOVAGRO project, HortiSempre project, KfW Bankengruppe.
Budget Fase in corso Budget Svizzera CHF   1'800'000 Budget svizzero attualmente già speso CHF   781'709
Fasi del progetto Fase 3 01.04.2018 - 31.12.2019   (Fase in corso) Fase 2 01.07.2012 - 31.12.2017   (Completed) Fase 1 01.08.2008 - 31.07.2012   (Completed)