With the support of the Digital Financial Services for Resilience (DFS4Resilience) programme, FINCA, in collaboration with Kuunda and Airtel Money, has introduced the Mgodi Overdraft Facility—a solution addressing liquidity challenges faced by Airtel Money agents. This innovative facility allows agents to borrow value from Airtel and repay it later, ensuring seamless business transactions despite the challenges they encounter.

Through the project, UNCDF is providing a grant of US$300,000 to FINCA, targeting 35,000 mobile money agents, 30 percent of whom are female.

Iris Kissiti, the Digital Finance Country Specialist for UNCDF Malawi, underscores the significance of the Mgodi Overdraft Facility in the digital financial sector. She emphasizes that such a facility not only enhances agents' revenues but also creates new income avenues, stimulating growth within the Micro, Small, and Medium-sized Enterprise (MSME) sector.

Kissiti states, "The Mgodi Overdraft Facility will uplift the financial well-being of mobile money agents. By stimulating and facilitating transactions, the facility contributes to our mission, which aims to foster financial inclusion, economic resilience, and poverty reduction."

Fraser Mdwazika, Director for National Payment Systems of the Reserve Bank of Malawi, recognizes the Mgodi overdraft facility as a pivotal step in alleviating liquidity pressure in the country. He envisions higher commissions for Airtel Money agents through increased mobile transactions, aligning with the goals of Malawi 2063.

Charles Bello, CEO of FINCA; Virginia Jere, Head of Marketing for Airtel Money; and Flora Kahury, CEO of Kuunda Africa, describe Mgodi as a catalyst for positive change in the mobile money landscape.

Yohane Samson, speaking on behalf of Airtel Money agents, expresses excitement about the Mgodi overdraft facility, anticipating significant improvements in their ability to serve customers efficiently and effectively.

The Digital Financial Services for Resilience (DFS4Resilience) programme is reshaping the landscape for mobile money agents in Malawi. Supported by the European Union and the Organization of African, Caribbean, and Pacific States (OACPS) and implemented by the United Nations Capital Development Fund (UNCDF), the program aims to deploy digital finance solutions at scale to deepen financial inclusion and accelerate economic recovery from COVID-19 to make economies and societies more resilient to external shocks.