There is clearly a need for additional banking services in Mozambique. The market, which is dominated by four major banks, addresses the needs of less than 5% of the 21 million people in Mozambique.

CHALLENGE: Identify optimal investments to accelerate mobile banking
An international development organization, the World Bank’s International Finance Corporation (IFC) needed to identify opportunities that would lead to both a dramatic increase in the banked population in Mozambique and a successful investment strategy. IFC needed to evaluate m-banking, switching, and other options for delivering financial services to unserved and underserved financial markets.
SEVAK SOLUTION: Country-wide feasibility study and investment recommendations
To assess the mobile banking landscape, Sevak Solutions led in-depth interviews with senior management at leading financial institutions and technology companies to provide a full picture of the marketplace and compatibility with IFC’s goals. Sevak Solutions also evaluated eight leading technology platforms on 30+ parameters to produce a detailed matrix of options.
RESULTS:
  • Delivered 75-page report of interview data, findings, and recommendations
  • Delivered 70-page PowerPoint presentation describing functionality, strengths, and weaknesses of eight technology options
  • Provided baseline requirements for successful m-banking adoption and scaling within Mozambique context
  • Included financial analysis of start-up costs and five year projections
  • Recommended top choices for investment based on IFC’s criteria
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