In the Democratic Republic of Congo (DRC), finding ways to expand banking services presents a particular challenge because financial institutions are scarce. However, some organizations are using innovative models - for instance, a network of digital agents - to bring banking services to more people. International Finance Corporation (IFC) and the microfinance institution Foundation for International Community Assistance (FINCA) DRC developed the network of online agents, called digital financial service agents, to provide banking services to FINCA’s low-income customers. During the network’s roll-out, IFC and FINCA found that working with women agents helped FINCA to connect with more people without access to formal banking services. In addition, factors such as the location of women’s businesses or how women handle finances had an impact on the growth of the company. These factors are discussed in the report.
Details
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Author
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Document Date
2017/01/01
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Document Type
Working Paper
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Report Number
121528
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Volume No
1
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Total Volume(s)
1
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Country
Congo, Democratic Republic of
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Region
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Disclosure Date
2017/11/24
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Disclosure Status
Disclosed
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Doc Name
Women entrepreneurs open a path for digital financial services in the Democratic Republic of Congo
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Keywords
partnership for financial inclusion;women in emerging market;banking service;average for sub-saharan africa;people without access;financial service;woman entrepreneur;microfinance institution;formal banking;social transformation;Financial Access;digital finance;net profit;supply chain;low-income area;inventory level;profit rate;traditional owners;female business;physical branch;married woman;send money;account number;innovative models;rural population;bank penetration;business opportunity;delivery channels;mobile network;basic banking;business case;
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Citation
Murti,Bhattiprolu Balachandra
Women entrepreneurs open a path for digital financial services in the Democratic Republic of Congo (English). Gender smart business solutions Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/434271511502483598/Women-entrepreneurs-open-a-path-for-digital-financial-services-in-the-Democratic-Republic-of-Congo