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INNOVATIVE APPROACHES TO RURAL FINANCIAL SERVICES PROVISION WITH EMPHASIS ON SMALLHOLDER PRODUCERS

INNOVATIVE APPROACHES TO RURAL FINANCIAL SERVICES PROVISION WITH EMPHASIS ON SMALLHOLDER PRODUCERS. THE EXPERIENCE OF MOZAMBIQUE. BACKGROUND. Population : 17,5 million GDP : 4321m US$ Growth rate : 7.1% GDP per Capita : US$ 240 Inflation : 13.8% Agriculture Contribution to

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INNOVATIVE APPROACHES TO RURAL FINANCIAL SERVICES PROVISION WITH EMPHASIS ON SMALLHOLDER PRODUCERS

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  1. INNOVATIVE APPROACHES TO RURAL FINANCIAL SERVICES PROVISION WITH EMPHASIS ON SMALLHOLDER PRODUCERS THE EXPERIENCE OF MOZAMBIQUE

  2. BACKGROUND Population : 17,5 million GDP : 4321m US$ Growth rate : 7.1% GDP per Capita : US$ 240 Inflation : 13.8% Agriculture Contribution to GDP : 22% National currency : Metical /24000 a USD

  3. Financial sector • Reforms were introduced in early 90‘s by allowing new entries in the system; • Banking Act was approved in 1991 and revised in 1999; • State Banks were privatised from 1996 because of accumulation of NPLs.

  4. Financial Sector Cont... • From 3 Banks in late 1980‘s now we have: - 11 Commercial Banks - 1 is a Microfinance bank - 5 Co-operative Banks - 3 leasing companies - 3 other institutions - 35 Exchange houses - 3 Insurance companies - 1 Stock Exchange

  5. Geographical Distribution There are 207 branches • 12% North (Nampula, Niassa and Cabo Delgado) • 22% in Center (Sofala, Manica, Tete and Zambezia) • 66% in South (Maputo, Gaza and Inhambane) 47% in Maputo

  6. GeographicalDistribution cont…… • We have one branch for each 82,000 habitants • or 1 branch for each 3,782 Km2. • As we can see the rural do not have access to financial services.

  7. INNOVATIONS • The Governor has issued a notice with new minimum capital for a commercial bank. The minimum is 70 billion meticis, equivalent to US$ 3.5 million. • The capital could be reduced to 70% or 50% if a Bank is opened in some provinces already identified. • BM has also registered Microfinance institutions. (13 associations, 6 NGO and 6 individuals)

  8. INNOVATIONS Cont… • These institutions are basically NGOs and are only allowed to lend.Taking deposits is not allowed. • In the revision of the banking Act a new kind ok bank was created, the microbank. • Microbanks will be second tier banks with different prudential ratios.

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