WOMEN CONTRIBUTION TO ADVANCING THE AGENCY BANKING MODEL IN MOZAMBIQUE

By Almeira Paruque – FSDMoç Investment Analyst 

This article aims to highlight the role played by women in the dynamization of the agency banking model, implemented by BancABC and Letshego, with the support of FSDMoç, whose objective is to expand the network of banks’ agents, through the development of products and marketing strategies for the rural areas, as well as training of agents and financial education of clients.

To promote the participation and reduction of the obstacles faced by women, these projects have sought to boost their participation, which currently represent about 20% of BancABC and Letshego agents, whose reports show that they are very satisfied and feel that the work has improved through the digital financial services provided by the banking platforms.

Notwithstanding the challenges encountered during implementation, which are summarily related to legislation, infrastructure and commissions, the projects have had a significant impact in the country, contributing on the one hand to women’s empowerment as banking agents, with the necessary financial abilities to perform their domestic and professional responsibilities and, on the other hand, for improving their daily income through the provision of financial services to the population living in remote areas, with low levels of literacy.

At present, the projects count on 54 thousand clients, in the Provinces of Maputo, Gaza, Inhambane, Zambézia, Niassa, Tete, Sofala, Manica and Nampula, with a forecasted extension to the remaining provinces of the country, by the end of 2019.

It should be noted that these and other projects supported by FSDMoç, have the purpose of offering recommendations to the whole market, for developing innovative and more appropriate products for the low-income population, considering specific women and other underserved groups’ needs, aiming to increase the levels of financial inclusion in Mozambique.

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Author
Denise Alves

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