Mpesa Mozambique (IFC-602138)

Countries
  • Mozambique
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Oct 11, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Vodacom Mozambique
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Communications
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Project Cost (USD)
$ 3.90 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 13, 2019

Disclosed by Bank Nov 14, 2018

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The objective of the proposed advisory services is to support Vodacom Mpesa Mozambique to scale up its digital financial services business and promote increased access to financial services and financial inclusion in Mozambique.

IFCs role in the project will be to provide technical advisory services that will support MPESA in expanding their digital financial service.

The project comprises;

  1. Business modelling - this will involve financial modelling to help the client build a sustainable operation that is sensitive to pricing for consumers and commissions for the entire value chain. Ultimately, this exercise will focus on ensuring that the business plans for sustainable growth - long term.
  2. Customer acquisition- In Mozambique, access to formal financial services is low. Marketing mobile money to the unbanked requires a highly interactive approach using simplified products that resonate with the users day to day needs. This project will help the client develop and deploy an effective customer acquisition strategy that will target a larger segment of the population that presently has limited access to these services.
  3. Merchant proposition and product development the goal is to develop and roll out a new Merchant proposition for M-Pesa. This will also include the business case development for new products like micro loans and savings.
  4. Agent network build out and management - mobile banking deployments need a well-structured agent network/distribution strategy to support the growth, management and oversight of the network. The project will support the client in achieving this through review of their agent management and compensation structure and building staff capacity to manage the agent network.
People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

The objective of the proposed advisory services is to support Vodacom Mpesa Mozambique to scale up its digital financial services business and promote increased access to financial services and financial inclusion in Mozambique.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Vodacom Mozambique Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

*Contact information not provided at the time of disclosure*

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

How it works

How it works