Following a market study commissioned by the African Development Bank last year, AUXFIN is now in Mali to prepare the implementation of the UMVA solutions CLIENT, BANK, AGENT and COOP in the 5 southern regions Kayes, Koulikoro, Ségou, Sikasso and Mopti. As such, AUXFIN has started to respond to the strategies as recommended by the market study report:
Reduce the cost of electronic payments by installing a platform to support payments between many operators (MFI, cooperatives, mobile operators) at a very low cost.
Make a very attractive offer to the Malian diaspora for a low-cost electronic transaction account that allows them to manage their savings in Mali, to send money to their family through a formal channel at zero cost, and which enables their family to build a track record with a financial services provider (thus enhancing financial inclusion)
Improve and strengthen the microfinance sector with digital solutions.
Introduce financial education with digital solutions.
All this in a favourable context marked by the Strategic Framework for Economic Recovery and Sustainable Development (CREDD).
The focus of AUXFIN in this initial phase will be on rural transactions of smallholder sesame farmers, to be announced shortly.