SDC Mozambique private and financial sector domain aims at improving access to finance. Since 2012, SDC has supported an innovative private public partnership to create a rural green-fielding institution called Microbanco Fides Moçambique SA (MBFM) whose technical assistance is provided by Financial Systems Development Services (FIDES). In this context of the PPDP, Swiss Microfinance Holding (SMH) acted as the private sector investor. MBFM is a formally licensed micro bank under the prudential regulation and supervision of central bank. The partnership between SDC, FIDES and SMH was designed to leverage scarce public resources and to reach 15’000 poor clients that could not be targeted through a standard project. In addition to MBFM, and as part of the project, an Inclusive Finance and Insurance Academy (INFINA) was established to train young Mozambican to staff MBFM. SDC is represented by the COOF at MBFM board of Directors. In terms of volume and since the beginning of operation one year ago, MBFM has reached 9500 clients and has disbursed 900’000 CHF in 2015 comforting its leading position in the region. The PAR 30 indicator stands at 2.5%. From November, the Bank will also start collecting savings. This is a very important step, opening up new perspectives to serve poor clients willing to put money into a safe place which concretely contribute to decreasing vulnerability. It is also an important first step to build assets paving the way out of poverty.
MBFM does not yet have a website.
