This report from Mastercard Foundation and UN Capital Development Fund (UNCDF) shows how the Mobile Money for the Poor program (MM4P) has been used in Zambia to increase digital financial services (DFS) usage rates, including a case study of FINCA Zambia.
“In Zambia, Elase was trapped in the cash economy with little options to save and transfer money safely. As she started using mobile money, she began to save in order to establish an agent booth. Today, she is a thriving mobile money agent managing four booths and several tellers. She was able to grow her business after receiving a non-collateral loan from FINCA, a project partner of the program. She is growing as an entrepreneur and feels empowered in her professional and personal life, providing business advice to her clients and contributing to her household needs.”