Progress in our Financial Agent Network Project in Mozambique


Since February 2015 AFC in cooperation with our strategic partner ADG is establishinga  Financial Agent Network in Mozambique RAMOÇ (Rede de Agentes de Moçambique ), a project financed by GIZ. Its goal is to broaden the access to finance via so-called banking agents who shall operate especially in rural areas, where the density of bank branches and ATMs is very low. Potential agents could be shop owners, cross-sellers etc. who usually welcome on a daily basis a variety of clients. The role of the agent is to facilitate financial transactions like depositing, withdrawing money or making transfers on behalf of the contracting financial institution.

The initial activity of our project team was to identify potential financial institutions that would be interested to establish an agent network in rural areas. After a public call for expressions of interest and a following analysis of the prospective partner financial institutions, so far two Integrated Development Partnership (iDPP) have been signed with the commercial banks Moza Banco and BancABC. A third iDPP is in the process of being signed

AFC is supporting the partner banks in the design and implementation of the banking agent services, which includes strategic guidance, development of business models, as well as the introduction of specific service tools. To facilitate the selection process, AFC designed a banking agent selection tool for potential agents, which is complemented by trainings for trainers within the financial institutions and for the newly identified agents. A financial model and projections have been created to evaluate the financial viability of the banking agent services.

Thanks to this support, Moza Banco was able to launch the first banking agent service in Mozambique in October 2015. The inauguration ceremony has received a considerable feedback and print media and television reported on this occasion. A short video can be found

The event has been an important milestone of the project and we are confident that soon other partner financial institutions will follow.

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