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Title. Sub-title. A frican A lternative A lliance for remittances. AAA. Accra conference, June 15 th &16 th , 2011. Jean POUIT. Project funded by the European Union. Executive summary.

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  1. Title Sub-title African Alternative Alliance for remittances AAA Accra conference, June 15th&16th, 2011 Jean POUIT Project funded by the European Union

  2. Executive summary • From June 15th to 16th, INAFI & Oxfam Novib are organizing in Accra the conference African Alternative Alliance for remittances (Triple A) • 10 leading African MFI’s & 10 leading Migrant organizations are inviting the Microfinance industry to join their Alliance to have a better control on the remittances market from end to end • 2/3 of remittances touch points in Africa are controlled by the 2 major MTOs forcing MFIs to accept their own conditions as sub-contractor while MFIs have the best network of branches • Alternatives MTO and initiatives will be showcased • A Shared Service Center (SSC) will be set up by MFIs as a GIE in Paris to manage the Mobile & Internet Platform • Launch of the Triple A european tour (sept-dec 2011) including 10 national Migrant Entrepreneurship Awards (finals in Paris & London), Financial literacy and to promote the new offer of remittance-based services

  3. Planning Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Migrant award preparation 2nd Euro migrant tour: offer of services 1st Euro migrant tour 120 Business Plans To be improved 8 national awards Paris London Preparation FLT Financial literacy MCS Spain Work conference Ghana RFP writing Replication by INAFI with MFIs Prototype Shortlist Call for tender Programming Testing Roll out 5 MFIs Regulatory agreement MFI consensus GIE Statutes Signing SSC operational 3

  4. Contents INAFI Remittances project overview Shared Services Center overview Project Management Training & Financial Literacy Toolkit Objectives of the Accra conference 4

  5. INAFI Remittances project 1st European migrant tour June 2011 2nd European migrant tour Sept 2010 Fev 2012 Others costs: IT& office equipt, office rent & supplies, printings, lead researchers, audit, evaluation, translation Admin costs Visibility Web designer and moderator Ghana conference: MFI Alliance Act5 migr.needs Act6 Design products: Act3 MFI/MTO: Act11a Project Mgt Fin.trainings : Act10 Linking learning : Act2 tech.trainings RFP Mobile & Internet Banking World Social Forum Act1 barriers Act7 INAFI/ migrants : Act3 Ghana conference: Act9 Training of trainers : Act8 Fin. literacy toolkits : Stakeholder intro Kick off Staff 5

  6. African Alternative Alliance for remittances • 10 leading Migrant Organizations • Belgium CGMD • France FORIM • Germany EGF • Italy CONFESEN • Luxembourg FAAL • Netherlands DFD • UK AFFORD • Spain CASC • Switzerland WDF/FMD • Sweden NEEM • 10 leading MFIs in Africa • Vital Benin • RCPB Burkina-Faso • ACSI Ethiopia • SAT Ghana • KWFT Kenya • Kafo Jiginew Mali • LAPO Nigeria • Pamecas Senegal • Pride Tanzania • Finance Trust Uganda The representatives of these 20 organizations built an Alliance during the World Social Forum 2011 in Dakar. 1100 Branches, 3.5 millions customers in Africa.

  7. Migrant account Bank account (card authorization) 1.Pays once 1000+ EUR 2. Weekly grouped SWIFT transfer to the partnering MFI Mobile orders (up to 5 registered beneficiaries) 3. Manages savings account through Web Savings Migrant Account Generating fees Payments Guarantee Loan Mother 50.000 CFA Insurance MFI Loan to brother’s business Initiate Monthly Premium Sister 15.000 CFA Housing The idea is as simple as that: send at least 1,000 euro to set up your MFI migrant savings account and get a full range of services on MFI account including very cheap money transfers by mobile or through the web. 7

  8. First results Activity 1: report on the 10 MFIs visited in 10 African countries, with recommendations Activity 2: technical training on transferring funds in Kampala, Dakar and Addis Ababa Act 5 University of Maastricht report on the needs and wants of 3,000 migrants 1st European migrant tour: (2010) Geneva 21 Oct, Brussels 26 Nov, Luxembourg 30 Nov, Amsterdam 3 Dec, Paris 18 Dec, Roma 28 dec, (2011) Barcelona 29 Jan, Dusseldorf 19 Feb, Stockholm 26 Feb Assembly of African migrants from Europe 7-9 Feb 2011 (World Social Forum Dakar): Signature of the alliance Technical specifications for the Mobile & Internet Banking Platform 8

  9. Ghana Burkina Faso Benin Ethiopia Germany Belgium Spain France Italy Kenya The Shared Services CenterM&eBanking platform Luxembourg Mali Netherlands Nigeria United Kingdom Senegal Switzerland Tanzania Ouganda Sweden

  10. Objectives of the M&eBanking Platform • The Mobile & Internet Banking Platform has 2 main objectives : • Allow migrants to bulk transfer their money from Europe to an account in Africa (=remittances) with a minimum cost. • Allow migrants to remotely manage online their African accounts through MFIs branches. • It requires: • - a shared server hosted in Europe + 1 Mobile box in each MFI to solve mobile connectivity with rural branches • - an administrative structure in Europe to collect copies of ID, customer service and promotion

  11. The African Alternative Alliance • The EU project will subsidize the design of a mobile and Internet Banking platform shared by the MFIs • The conference in Accra allows to set up a legal entity in Europe, a GIE (literally Economic Interest Group) to manage the SSC • Each MFI will indirectly own an account through the Triple A GIE in a partnering bank in Europe and each migrant who transfer an amount on this account will be credited in Africa allowing cheap online withdrawals • This value proposal has been validated through a letter of intent by the 10 leading Migrant organizations and the MFIs who will benefit from the cross sellings and the average balance on savings See videos on www.inafi.org

  12. MFI Head Office Mobile box MFI Branch Migrant’s Account The 3 steps for cheap local payments in Africa Europe Africa Bank or MTO The GIE will act as a payment agent for our partnering bank where it is domiciliated The GIE owns the MFI account but withdrawals can be initiated only by the MFI order to both the bank and the GIE whenever it is necessary 1 account per MFI GIE Copies of ID Cash (add fee) Transfer Card Grouped Money transfers • Payments: • Family remittances • Payments to providers • Loan instalments • Microinsurance • Collateral • Remunerated savings 1. REGISTER Migrant Mobile Web Network Network SSC platform MFI A mobile box will automatically forward the orders to the mobile of the branch manager 2. TOP UP 3. ORDERS

  13. HomepageLogin Customer area Back Office • Bank statements • Reconciliation orders with payments • Reconciliation top ups • Freezing for guarantee • MFI info update (pricing, branch) • Open account • Deposit / withdrawal • Register • Balance & statement • Add/remove beneficiary • Payment to account/cash • Service payment (loan, insurance,…)

  14. Codevelopmentproject management training &Financial literacy toolkit European Migrant Entrepre neurship Award

  15. 2nd European Migrant Tour: Combined events September October November December • From sept. to december 2011, 10 combined events will include: • Financial literacy toolkit (1st day) with an online resource center • Migrant entrepreneurship awards: 10 national contests + European finals in Paris and London • Promoting MFIs new offer of services Sweden Italy Switzerland Germany Netherlands Belgium European Microfinance Week Luxembourg Microcredit Summit Valladolid 14-17 Nov 2011 Spain With INAFI PO France Francophone Final - Paris United Kingdom European Final - London

  16. European Migrant Entrepreneurship Award • During the conference of Accra, the action plan will be presented to our partners • The trainer will publish Business Plan templates, tips and methodologies online • Migrant Organizations will select • 120 migrant leaders • the skilled migrants to assist them • the jury including investors and microcredit decisionmakers • The trainer and the skilled migrants will help the 120 migrant entrepreneurs until their national award • 10 combined events with jury interviews and an award ceremony • French speaking final in Paris and European final in London to select among the 10 national awardees

  17. Financial literacy • During the summer 2011, a financial literacy toolkit will be prepared and published online • 10 Training of the Trainers will be delivered to Migrant organizations in Europe from Sept to December 2011 • The INAFI Project Officer will attend the one in Spain and adapt it for MFI trainers with 5 MFI visits onsite in SSA countries

  18. AccraConferenceObjectives

  19. Accra conference objectives • Showcase of alternative MTOs • Launch the concrete cooperation with Migrant organizations on Financial Literacy and Migrant Entrepreneurship Awards • MFIs: • Set up the SSC as a legal entity with MFIs • Agreement on a common price for account openings, top ups, online withdrawals • Meet the partnering bank owner

  20. For more information: www.inafi.org jean.pouit@oxfamnovib.nl Mobile:+31 623704102

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