PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

601709

Primary Business Area

Financial Institutions Group

Disclosure Date

Nov 14, 2017

Country

Lesotho

Region

Africa

IFC Approval Date

Aug 15, 2016

Status

Completed

Estimated Total Budget

$1,000,000.00
(Project budget includes all project-funded activities)

Last Updated Date

Jun 12, 2021

Project Estimated Start Date

Aug 7, 2016

Project Estimated End Date

Dec 31, 2018

Project Description

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; a) Customer acquisition- In Lesotho, 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. b) 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. c) 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.

Development Results

E&S Risks / Impacts and Mitigation