Financial Systems Development in Mozambique - One More Project Extension From GIZ and EU to AFC
Since the beginning of this year, AFC has successfully shifted into the next stage of the implementation of the GIZ-EU-funded “Financial Systems Development” project in Mozambique. The new phase of the project extends the implementation timeline by 26 more months and tops-up the GIZ-EU-AFC intervention budget with additional EUR 495,000. This very important commitment brings the duration of the advisory services provided by AFC to a total of nine years, with a total contract value of EUR 3.4 million.
In March 2015, AFC started to support the program “Improving Framework Conditions for a Competitive Private and Financial Sector” by GIZ in Mozambique. They established the Financial Agent Network in Mozambique RAMOÇ (Rede de Agentes de Moçambique ) initiative, with the main objective of developing sustainable banking agent networks in Mozambique, in order to promote financial products and services among MSMEs via banking agents in rural areas.