MicroLoan Foundation

MicroLoan Foundation used Musoni to rapidly grow to 85k clients across Malawi, Zambia & Zimbabwe.

Background

MicroLoan Foundation (MLF) are a UK-based microfinance charity operating in Malawi, Zambia and Zimbabwe. In 2015 MLF selected Musoni as their long-term digitalisation partner, going live with their operations in both Malawi and Zambia. In 2017 they launched a new entity in Zimbabwe again selecting Musoni as their core banking system.

Getting started together

Before launching the implementation project, the Musoni team spent a week visiting the MLF field operations, gaining a deep understanding of the operations on the round, and the challenges being faced with the current system. This enabled the MFI to formulate their digitalisation strategy, starting off with migrating to the Musoni CBS. In both Malawi and Zambia, Musoni successfully migrated all client, loan and savings data from MLF’s previous system into Musoni. The data migrations, training and other implementation work were each completed in under three months, ensuring a quick and easy go-live for the operations teams.

Musoni continues to work closely with the MLF team on continuing their digitalisation journey. In 2019 our senior management spent a week visiting branches in Malawi and identifying how they could continue to gain the most benefits from the system.

Immediate Impact

Originally MLF ran their operations on a custom built, in-house system. As their client numbers increased and the organisation expanded into multiple countries this became increasingly difficult for them to maintain. Since switching to Musoni the results have been impressive. MLF have seen significant growth in client numbers, loan portfolio and total savings balances and now serve over 82,000 end customers across their three countries while maintaining a low PAR.

MLF were also one of the first adopters of the Musoni DFA, which is used by loan officers to register customers and collect additional information from clients in the field. This has improved efficiency, improved data quality, and reduced paperwork.

We wanted a system that fulfilled all the requirements and a partner that was understanding of our needs. We understood that choosing a software provider was the start of a long-term commitment and so we wanted someone who would support us through the ups and downs of the relationship. Musoni has absolutely delivered on this.

Peter Ryan, Group CEO

Social Performance Monitoring

MLF focus on rural areas and have 100% female clients. As an organisation dedicated to social impact, MLF take advantage of the Poverty Probability Index managed by IPA (fully integrated into Musoni).  Using the PPI Surveys, MLF have been able to focus on supporting exceptionally poor women: 85% of their members earn below $2.50 each day and 52% earn below $1.25.

What's Next?

Following a joint field assessment carried out by the Musoni and MLF management teams, MLF identified the next steps that they’d like to take on their digitalisation journey. The first stage of this is upgrading to the latest version of the Musoni Digital Field Application (which now includes the ability to collect repayments in the field) and integrating with the local mobile money services to provide additional channels for their end customers.

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