Microfinance institutions now have access to grants made available by the Mozambican Association of MicroFinance Operators (AMOMIF) to invest in the modernization and computerization of their financial management and reporting systems.
This association's initiative is supported by funding from the International Fund for the Development of Agriculture (IFAD), through a project with the Government of Mozambique called REFP, which recognized AMOMIF's contribution and role in financial inclusion and signed an agreement with it assistance.
According to data provided by AMOMIF, this entity participated in the negotiation of investments in banking software for Microfinance Institutions (MFIs), in the order of 1,3 million meticais, guaranteeing subsidies of around 430 thousand meticais.
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So far, there are already four institutions that have requested access to the subsidy, through contracts to acquire a management system known as @kredit. This software is provided by a consortium that has established a partnership agreement with AMOMIF.
The subsidy percentage to which MicroFinanças operators are entitled varies according to the relationship with AMOMIF. Current dues members can get up to 45% subsidies.
AMOMIF's assistance program with computerized management tools for institutions operating in the MicroFinance sector is one of the priorities identified in the strategic plan of this association, as well as one of the measures most requested by its members, according to a recent survey of the sector that was carried out in coordination with the World Bank.
