PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

604289

Primary Business Area

Financial Institutions Group

Disclosure Date

Jan 22, 2020

Country

Lesotho

Region

Africa

IFC Approval Date

Sep 20, 2019

Status

Completed

Estimated Total Budget

$995,000.00
(Project budget includes all project-funded activities)

Last Updated Date

Jun 2, 2024

Project Estimated Start Date

Sep 1, 2019

Project Estimated End Date

Dec 31, 2021

Project Description

This project will provide advisory support to Vodacom Lesotho to extend financial inclusion in Lesotho through its mobile wallet service MPESA. The project will introduce new products that go beyond deposit, transfers, airtime purchase and withdrawals. Savings, credit and a solar lighting product will be made available to Vodacom MPESA customers. Additionally, merchant payment services will be expanded. This will be achieved through; 1. Customer acquisition with a focus on usage of new products 2. Implement a revamped agent management model countrywide 3. Expand the merchant network and increase transactions 4. Develop an M-Pesa savings and nano credit product 5. Develop and launch a solar financing product

Development Results

E&S Risks / Impacts and Mitigation