2010-2012

TOTAL COST: $2.5 MILLION

Implementing Partner: Opportunity International Bank of Malawi (OIBM)

PROJECT OBJECTIVES: This project aims to help the Opportunity International Bank of Malawi (OIBM) offer a full range of financial services (savings products, agriculture loans, and crop insurance) to rural communities and small holder farms in Malawi.

Goal 1: Improve overall profitability of OIBM by 25% by reducing overhead containing losses, reviewing free structure, seeking profitable business linkages such as SACCOs, NGOs, and negotiating a 4% commission on airtime sales with the cellular phone companies on the bank's cell phone delivery product.

Goal 2: Improve customer service to retain more clients by increasing their skill level and knowledge of staff, deploying more Point of Sale (POS) devices in areas where services do not currently exist, increasing the number of outlets for clients in the rural areas, and halving the wait time for transactions.

Goal 3: Create a stable IT platform by replacing the current Technology Platform, upgrading the current version of eMerge to Ro6 and rolling out a new EFT switch and vbank card for OIBM

Goal 4: further OIBM's transformation and marketing focus by researching customer needs in order to develop better products and services, producing more documentaries on financial literacy, increasing the relationship dimension through every one of the touch points and creating an intentional 'staff' transformation strategy for all staff.

Goal 5: Increase outreach and product delivery.