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Focus on Agent Networks in the Democratic Republic of the Congo for better financial, economic, and social inclusion

Focus on Agent Networks in the Democratic Republic of the Congo for better financial, economic, and social inclusion

The level of financial inclusion in the Democratic Republic of the Congo (the DRC) stands at 26%. This presents a great opportunity for agent networks for digital financial services in the country to accelerate the access of low and middle-income populations to quality financial services.

Despite the presence of several digital financial service providers in the market, both the access and use of these services remains weak. This makes it all the more critical to improve the management of agent networks. According to the World Bank statistics, mobile money accounts have increased from 9.2% in 2014 to 16.1% in 2017 (https://bit.ly/2v04gWJ).

In the DRC, the use of informal financial services remains strongly anchored among the population. In this context, a careful selection of agents appears to be a good alternative at a lower cost to the provision of financial services. Well-trained, they will be the ideal channels for financial inclusion to become a reality.

The ELAN DRC program and the Fund for Financial Inclusion in the Democratic Republic of the Congo (FPM) commissioned MSC to conduct a short-term study on the internal opportunities and constraints

This study had two main objectives: (1) To understand the internal factors in the management of DRC agent networks that promote or slow the success of DRC agents, and (2) to provide guidance on how operational management of agent networks can improve. The study makes a clear case for increasing financial inclusion through agents—but for that, a long-term investment is essential.

The stakeholders must increase customer awareness, invest in the training and motivation of trainers, improve the process of selection and hiring agents, invest in marketing tools, multiply the liquidity options alongside the management tools of the dual currency, and invest in infrastructure.

In addition, it is necessary to develop appropriate products and services according to needs while ensuring the protection of customers. This would encourage Congolese customers to continue using digital financial products and services and even increase their level of service.

Please find the all study here (https://bit.ly/2UF2gNM).

Distributed by APO Group on behalf of MicroSave Consulting (MSC).
Media Contact:
Doreen Njau
Marketing Dept
MicroSave Consulting Limited
+254 722 392 096

About MicroSave Consulting (MSC):
MicroSave Consulting (MSC) (www.MicroSave.net), is a boutique consulting firm that has, for 20 years, pushed the world towards meaningful financial, social, and economic inclusion. With 11 offices around the globe, about 190 staff of different nationalities and varied expertise, we are proud to be working in over 50 developing countries. We partner with participants in financial services ecosystems to achieve sustainable performance improvements and unlock enduring value. Our clients include governments, donors, private sector corporations, and local businesses. We can help you seize the digital opportunity, address the mass market, and future-proof your operations.

About the Mastercard Foundation:
The Mastercard Foundation (https://MastercardFDN.org) seeks a world where everyone has the opportunity to learn and prosper. The Foundation’s work is guided by its mission to advance learning and promote financial inclusion for people living in poverty. One of the largest foundations in the world, it works almost exclusively in Africa. It was created in 2006 by Mastercard International and operates independently under the governance of its own Board of Directors. The Foundation is based in Toronto, Canada. For more information and to sign up for the Foundation’s newsletter, please visit www.MastercardFDN.org. Follow the Foundation at @MastercardFdn on Twitter.

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