MFTransparency, a US-based nongovernmental organization that provides information on credit products and pricing, recently announced plans to expand its Transparent Pricing Initiative to Mozambique with the objective of collecting and publishing pricing data for microfinance products offered in the country and providing financial literacy training to microfinance clients. MFTransparency will collaborate with the 28 member Association of Mozambican Operators of Microfinance (AMOMIF – Associação Moçambicana de Operadores de Microfinanças) to co-host a workshop to launch the effort in Maputo, Mozambique, on August 23, 2011. The goal of the effort is to help poor people make informed decisions when borrowing.
The workshop will provide training on pricing transparency to local industry stakeholders including staff of microfinance institutions, regulators, funders and support organizations. As of August 2011, MFTransparency has released pricing data from nine countries and is in the process of collecting data from an additional 16 countries.
By Ashim Kar, Research Associate
About MFTransparency: MFTransparency is a US-based nongovernmental organization (NGO) that was launched in July 2008 to provide information on microcredit products and their prices in addition to financial education and policy advice. MFTransparency collects data on the interest and fees charged on microfinance loan products in order to calculate and publicize the effective interest rates on those loans. Its intention is to establish the industry standard for pricing disclosure and to facilitate a fair exchange of microfinance products between suppliers and consumers. As of August 2011, MFTransparency has released pricing data from nine countries and is in the process of collecting data from an additional 16 countries.
About the Mozambican Association of Microfinance Operators (AMOMIF): AMOMIF (Associação Moçambicana de Operadores de Microfinanças) has 28 member organizations representing the Mozambican microfinance industry. Established in 2007, AMOMIF attempts to ensure access to financial services for poor Mozambicans and to contribute to their departure from poverty. AMOMIF provides training for its members through partnerships with other organizations including the International Labour Organization and the International Finance Corporation. The association aims to address the problems and limitations that the Mozambican market has encountered including legislative gaps, high operational costs and limited access to finance for poor people.
Source and Additional Resources:
MFTransparency Press Release, August 15, 2011, “MFTransparency and the Mozambican Association of Microfinance Operators to Launch the Transparent Pricing Initiative in Mozambique: Eighth Country in the enabling APR & EIR Program”, http://www.mftransparency.org/pages/mftransparency-and-the-mozambican-association-of-microfinance-operators-to-launch-the-transparent-pricing-initiative-in-mozambique/
MicroCapital.org story, June 2, 2011, “MICROCAPITAL BRIEF: MFTransparency, Association of MicroFinance Institutions of Zambia (AMIZ) Launch Transparent Pricing Initiative in Zambia”, https://www.microcapital.org/microcapital-brief-mftransparency-association-of-microfinance-institutions-of-zambia-amiz-launch-transparent-pricing-initiative-in-zambia/
MicroCapital.org story, March 25, 2011, “MICROCAPITAL BRIEF: Guy Carpenter Reinsurance to Receive $1m Grant from International Finance Corporation (IFC) to Develop Agriculture Microinsurance in Mozambique”, https://www.microcapital.org/microcapital-brief-guy-carpenter-reinsurance-to-receive-1m-grant-from-international-finance-corporation-ifc-to-develop-agriculture-microinsurance-in-mozambique/
MicroCapital.org story, October 6, 2011, “MICROCAPITAL BRIEF: Opportunity International Expands savings-based Microfinance in Malawi, Ghana, Tanzania, Uganda and Mozambique”, https://www.microcapital.org/microcapital-brief-opportunity-international-expands-savings-based-microfinance-in-malawi-ghana-tanzania-uganda-and-mozambique/
MicroCapital Universe Profile: MFTransparency, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=MFTransparency
MicroCapital Universe Profile: Mozambican Association of Microfinance Operators (AMOMIF), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Mozambican+Association+of+Microfinance+Operators+%28AMOMIF%29
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/tiki-index.php
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