Advanced payment solution for microfinance

Objectif officiel

In Madagascar, only 4% of the people have a bank accounts. This mainly applies for the upper class. This project will target the Bottom of the Pyramid to get simplified accounts based on mobile technologies.The Microfinance sector in Madagascar is not properly equipped to efficiently handle financial transactions. All financial transactions have to be processed manually, by using many different forms. Kenyan applicant Craft Silicon and Malagasy partner Global Vision wish to set up a new company to offer payment solution services to the micro finance sector in Madagascar. The company will lease ATMs, biometric EPT transactional services (payment devices), e-vouchers and a mobile banking (ELMA) system to MFIs. Because of these systems, clients of banks will be able to do financial transactions more efficiently. Micro finance institutions in their turn will be able to improve the transparency and to administer all financial transactions more efficiently. The company will be based in Antananarivo. The first micro finance institutions to be serviced will probably be in the region of Analamanga.Corporate Social Responsibility (CSR)All employees will receive labour contracts, good and safe working conditions, freedom to associate and a working environment free of discrimination. Remuneration and working hours will comply with local labour laws. All employees will be offered social security and will be registered for a pension fund. Health insurances will also be arranged. All employees will be offered a subscription to a fitness centre. The joint venture will apply for an ISO 9001 certification. The BREFT software is ISO 8583 certified (quality). Payment Card Industry (PCI) and Data Security Standards (DSS) will be applied. Furthermore, the joint venture will set up a foundation in Madagascar, to give ICT training to 300 poor women.Impact• Employment and working conditionsAll employees will receive labour contracts, good and safe working conditions, freedom to associate and a working environment free of discrimination. Remuneration and working hours will comply with local labour laws and wages will be above minimum living wage. All employees will be offered social security and will be registered for a pension fund. Health insurances will also be arranged. All employees will be offered a subscription to a fitness centre. And all employees will be trained.• Innovation / Transfer of knowledgeAlthough ATMs, EPTs, mobile banking are not entirely new to Madagascar, these are only used (on a small scale) by commercial banks. A business model, in which a company is 'leasing' these technologies, is completely new for Madagascar. Furthermore, MFIs serve a different market than banks.Therefore, some products used will be slightly different as well. The EPTs will be using biometric verification (using verification by finger prints), instead of using pin codes. Furthermore the joint venture will make use of mobile ATMs and EPTs as well, offering the possibility of b

Texte publié par le bailleur. Il décrit une intention au moment de l’approbation, pas un résultat obtenu.

Calendrier

Début déclaré

1er juillet 2013

Clôture prévue

3 août 2021

Durée prévue

97 mois

100 % de la durée prévue est écoulée. C’est une mesure du temps, pas de l’avancement des travaux : celui-ci figure dans les rapports d’avancement officiels.

Financement

Budget déclaré

419 543 EUR

Budget déclaré dans la devise du bailleur, sans conversion.

Place du numérique

100 % du projet relève des secteurs numériques, selon la ventilation déclarée par le bailleur. Le numérique en est l’objet principal.

• Technologies de l’information et de la communication (TIC) 100 %

Thèmes

• Économie numérique et innovation (Économie numérique à Madagascar) : « innovation » figure dans l’objectif officiel.

Documents officiels

Aucun document publié dans les données ouvertes pour ce projet.