RCRN: Microfinance Mozambique
Increased availability of financial services to the rural population is one of the main objectives of the Government as defined in the Action Plan for Poverty Reduction PARP. 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 funded by an experienced Swiss private sector company which will also develop a full professional curriculum for staff of rural banking and insurance institutions.
Mozambique biggest challenge is to translate high GDP Growth (7-8% p.a) into improved well being of the whole population. Poverty reduction efforts and other social advances have not benefited everyone equally. 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.
Increase of employment, income and wealth of rural and urban poor in Northern Mozambique through increased availability of financial products tailored to their needs. Project Purpose: Increased economic involvement of poor men and women in agricultural and small business sectors.
FIDES financial systems development services Central Bank of Mozambique
The three high-potential, underserved client segments in the regional financial services market which have been identified are:
Results from previous phases
The previous phase has shown 70% of clients have increased and diversified their activities and most of them have increased their benefits. RCRN has created 43 village banks, 4 regional resource centres servicing 10’000 credit clients and 1’000 savings clients.
Key data of the project
Private sector and financial services
Country or region:
Current phase 2:
01.07.2012 - 30.06.2015
SDC budget for current phase:
Total project budget for current phase:
Project number: 7F-06373.02