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Home Business Malawi To Unveil A Report On Mobile Money

Malawi To Unveil A Report On Mobile Money

by Caroline Vutagwa
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mobile money

Soon we will be having a report from Malawi telling us how it can establish an autonomous Mobile Money Coordination Group (MMCG) that shall operate beyond the life of the current United States Agency for International Development (USAID) funded Mobile Money Programme.

This will be done under the Mobile Money Accelerator Program (MMAP) FHI 360 which launched a USAID-funded project in October 2012 focusing on caling usage of mobile money to boost financial inclusion.

The main role of the Mobile Money Coordination Group (MMCG) is to coordinate activities to promote the expansion of mobile money in Malawi. The MMCG’s works together with World Bank, Reserve Bank of Malawi, Bankers Association of Malawi, Malawi Microfinance Network, Malawi Communications Regulatory Authority (MACRA), mobile network operators, Ministry of Finance and development partners.

“Mobile money presents an opportunity to empower large segments of the population by providing access to finance through open access ecosystems enabled by mobile telecommunications networks,” says a statement from USAID and FHI 360 which calling for experts to do consultancy on MMCG.

This study will reveal the strengths, weaknesses, opportunities, and threats of the current MMCG as well as develop a set of recommendations to lead towards an autonomous MMCG that shall operate beyond the life of the current USAID funded Mobile Money Programme.

The current project focuses on three main areas which include increasing the demand for mobile money services, through public awareness campaigns, financial literacy training, and research and pilot activities; and strengthening the mobile money ecosystem, through provision of training, hands-on technical assistance, and dialogue facilitation to the public and private sector.

The third area is strengthening the legal and regulatory framework to enable mobile money.

FHI 360’s MMAP now seeks to engage a competent consultant to undertake an MMCG study that will generate recommendations to lead the MMCG to an autonomous set-up by among other things.

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