DFS for the Poor Thru Mojaloop & MIFOS

Proposed Solution Framework
4.1. High Level Solution Overview
Core to our solution strategic is to fully leverage Mifos and Mojaloop eco-system which is fully
open source to deliver services cost-effectively. MIFOS opensource MFI platform will provide
a National Microfinance Institution electronic records platform that will and generate and
promote the following services:
1) Business Credit Ratings and Know Your Customers campaign that are not capture by
the mainstream economic and not being used by them.
2) Support for Interoperability and Digital Financial Identity (enrolling the National
Identification Biometric IDcard into the National MIFOS platform) to the Untapped
Economy, Unbanked Population were in they see the Banks as a Service than as an
Infrastructure.
6 SellPay Financial Inclusion Value Proposition
3) Introducing from the National MIFOS platform customizable Payment Solutions that
affects the livelihoods the 80% Informal Sector Workforce that will see Banking as a
Services Options and Customizable Payment Options that cover Health Payment
Services, Educational School Fee Payment Services .
4) MIFOS for AgroMicrofinance Institutions, AMFI, consolidating Digital Trust between
Farm Inputs, Farms, Agro Value Chain and Agribusinesses. Using the MIFOS platform
as an integrated logistical flow for agribusiness that will grow a strong MFI support
for Agro Investment
5) MIFOS National Collateral Management System for MFIs Letter of Credit Bond and
Issuance that will based its reliance on KYC, Know Your Customers and Credit Ratings
Certification Issuance.
6) MIFOS Platform for TIN Lookup, Business Tax Identification Number, TIN Lookup
Index (Date Issued and Date Expired) and with a Business Service Directory
7) MIFOS Platform for P2G, Payment to Government Services that support third party
P2G, Payment to Government Services .
8) Use MIFOS platform and Mojaloop to strengthen Liberia Local Municipal Government
capacity for Revenue Mobilization, DFS, Identification Registry of fees, etc.

Financial Inclusion Initiatives

Financial Inclusion Initiatives of the Central Bank of Liberia focus on two key deliverables:

a. Delivery of Financial Services

With a large portion of the Liberian population living within the rural area, Central Bank of Liberia has been focusing on means of delivering financial services to this sector of the population and integrating them into the formal economy.

b. Enhancing Access to Finance
In recognition of the Government of Liberia's goal of obtaining a middle income status by 2030 via the implementation of a development agenda that democratizes prosperity and 'lift' Liberians, the Central Bank of Liberia Board of Governors recognized that access to finance remained a critical barrier for Liberians and reached a decision to develop innovative means of stimulating the general economy through improving access to finance opportunities for Liberians to accomplish the following:

• increasing access to medium term financing;
• creating an environment for private sector job creation;
• improving and empowering the Liberian-owned business segment of the economy;
• providing needed financing to rehabilitate the agricultural sector; and
• addressing microloans loan portfolio needs

The Microfinance and Financial Inclusion Unit became a strategic conduit to the achievements of these objectives.  

Below is the overview of our solution approach to each use case
4.1.1. Approach to Microfinance Institutions
Mojaloop and Mifos platform will help to reuse the informal sector KYC, Credit Rating
and extend the NIR, National Identification Registration to the informal sector
4.1.2. Credit Unions
Institutionalizing the Mifos platform to support various small market players to provide
savings and loans securely and efficiently.
4.1.3. Our Approach to Rural Community Finance Institutions and Village Savings and Loan Associations  Institutionalizing the Mifos platform to support various small market players to provide  savings and loans securely and efficiently. The Mifos AgroMFI platform will explored for crest and market assert to Rural communities.

Overview of Use Cases

3.1. The Microfinance Institutions
There are 18 registered microfinance Institutions operating in Liberia and bulk of the 
80% of the population rely on Informal MFI high risk Quack MFI. The sector is 
undercapitalized and predominantly operates in the Montserrado County area - close to 
the Liberian capital, Monrovia. There is one international institution, BRAC Microfinance, 
which has extended outreach in several counties in Liberia. The Network of Microfinance 
Institutions in Liberia (NEMIL) is the apex organization of MFIs in Liberia.
3.2. Credit Unions
Credit Unions play a key role in providing financial services to rural Liberia. The Liberia 
Credit Union National Association (LCUNA) is the Apex institution of the sector and works 
with primary credit unions which are present in every political sub-division in the 
country. These primary credit unions are member-based institutions engaged in savings 
mobilization and credit extension to rural Liberians
3.3. Rural Community Finance Institutions and Village Savings and Loan Associations
Rural Community Finance Institutions and the Village Savings and Loan Associations, 
VSLA and RCFI closely related, and the current project funded by IFAD, international 
fund for agriculture development, will need MIfos platform as there is a gap need on 
this project with the Central Bank of Liberia. This sector is undocumented and mainly 
dominated by NGOs that Agro related and rural base.

Financial Inclusion Status
Availability and Access to digital financial services in Liberia still major challenges and below 
are the high statistics on the current outlay:
1) 20% of the workforce are from the Formal Sector
2) 80% of the workforce are from the Informal Sector
3) 80% of the workforce make up the Vulnerable employment sector of the population
4) Liberia population 5,057,681, people
5) 65% of the female population make up the Liberia Marketing Association, LMA, 
membership, a strong informal sector that are victim of Illegal MFI, Saving Clubs, etc
6) 75% of Cross boarders Traders are Female, from the Subregion of West Africa called 
MRU, Mano Union Basin countries of Guinea, Ivory Coast, Liberia, and Sierra Leone

Liberia's Financial Inclusion Initiatives
Financial Inclusion Initiatives of the Central Bank of Liberia focus on Delivery of Financial 
Services and Enhancing Access to Finance. The Central Bank of Liberia Board of Governors 
recognized that access to finance remained a critical barrier for Liberians and reached a 
decision to develop innovative means of stimulating the general economy through improving 
access to finance opportunities for Liberians to accomplish the following:
1) Increasing access to medium term financing 
2) creating an environment for private sector job creation
3) improving and empowering the Liberian-owned business segment of the market
4) providing needed financing to rehabilitate the agricultural sector
5) and addressing microloans loan portfolio needs of:

MIFOS Platfor

We are a thought leader for technology-enabled financial inclusion, committed to achieving our mission by delivering accessible technology designed to serve the Base of the Pyramid, providing tools and best practices for responsible financial inclusion, and endorsing standards for openness and transparency.

At a fundamental level, financial inclusion is all about creating access to various financial  

choices for the millions of Africans who currently do not have access to finance. In many 
African countries, traditional financial services providers such as banks remain the main source 
of finance but are largely inaccessible to many. However, the increased use of mobile phones 
and mobile money means that in addition to transfers and payments, we have the opportunity 
to offer financial services, such as loans, savings, and insurance, previously not available to 
all.
To us, financial inclusion is not only about access, but must include usage. We are working to 
enable more people to access and use financial tools previously unavailable to them to achieve 
their economic goals. This is true financial inclusion. At SellPay, we are humbled by this 
opportunity we sized, of contributing to the Fintech economic inclusion projects in many 
different roles within the architecture and technology integration arena.

Overview of the financial services sector in Liberia:
1) Liberia has nine commercial banks, two local commercial banks servicing a 5million 
population 
2) Liberia has two Telco or GSM communication companies, Orange Liberia and MTN 
Liberia, current the Government own Telecommunications Corporation, LIBTELCo is 
now legislated to operate its own GSM frequency. 

Banks and Telcos interoperation seek to only and limited to the formal sector driven by 
Employees Salary Bank Account Push || Pull services from their mobile money wallet to 
their Bank Account.

We bring to the informal sector

Our Approach to Rural Community Finance Institutions and Village Savings 
and Loan Associations
Institutionalizing the Mifos platform to support various small market players to provide 
savings and loans securely and efficiently. The Mifos AgroMFI platform will explored for
crest and market assert to Rural communities.

This benefit of DFS resilience, freedom, Payment services for all, inclusively contribute toward social services deliverable, as it being everyone to a digital identity that support social protection

It Use Case is define by Evidenc e base support to the poor in solving most of their last mile challenges.

RAPID PRODUCT CREATION: Our flexible product creation engine allows you to instantly create, configure and roll out brand new credit, deposit, and share products across any of your branches. You can respond to client demand in no time - once you make the change in Mifos X, new products are available for any clients across any of your branches. You can also configure your product mix to ensure clients can only take out a responsible amount of loans at one time.

It is interoperable because it DFS module is center around Mojaloop, project dedicated to Financial interoperability and it is a wallet for bank to mobile phone vis versa.

The application has USSD interface via Mobile Phone Networl

80% of the Liberia Informal Sector and an equivalent of that amount is 80% of Workforce

One of my major goals with in the next five years is to reduce the cost of internal remittance for the poor to be accessible ther Agro rural community

GSM Companies, Telco, Orange and MTN are now abusing and competiting the unbanked ecosystem

Business Credit Ratings and Know Your Customers campaign that are not capture by 
the mainstream economic and not being used by them. 
Support for Interoperability and Digital Financial Identity (enrolling the National 
Identification Biometric IDcard into the National MIFOS platform) to the Untapped 
Economy, Unbanked Population were in they see the Banks as a Service than as an 
Infrastructure.

Creating the National Mojaloop and MIFOS platform for the poor

Financial Inclusion Initiatives

Financial Inclusion Initiatives of the Central Bank of Liberia focus on two key deliverables:

at. Delivery of Financial Services

With a large portion of the Liberian population living within the rural area, Central Bank of Liberia has been focusing on means of delivering financial services to this sector of the population and integrating them into the formal economy.

b. Enhancing Access to Finance
In recognition of the Government of Liberia's goal of obtaining a middle income status by 2030 via the implementation of a development agenda that democratizes prosperity and 'lift' Liberians, the Central Bank of Liberia Board of Governors recognized that access to finance remained a critical barrier for Liberians and reached a decision to develop innovative means of stimulating the general economy through improving access to finance opportunities for Liberians to accomplish the following:

• increasing access to medium term financing;
• creating an environment for private sector job creation;
• improving and empowering the Liberian-owned business segment of the economy;
• providing needed financing to rehabilitate the agricultural sector; and
• addressing microloans loan portfolio needs

The Microfinance and Financial Inclusion Unit became a strategic conduit to the achievements of these objectives.   

In addition to this, you need to know more about it.

20 staff

Because we know the mainstream Financial ecosystem, Telcos and their limit, the unbanked market and the opportunity is it is only reachable by FinTech solutions, because of our Partnership with the Central Bank of Liberia, 

• MICROFINANCE INSTITUTIONS
• Credit Unions
• Village Savings and Loan Associations
• Rural Community Finance Institutions

And we are currently integrating the above MFI on to the MIFOS platform

We are currently partnering with the below organization:

1.MIFOS MFI platform

2. Mojaloop 

3.Level One Project

4.Bill Gates Foundation

5. Government of Liberia,l

6. Private sector partnership for the Informal sector

https://mifos.org/mifos-x/road...

The 2016 product roadmap for the Mifos X platform is a living document that will continue to evolve throughout the course of the year. It serves as the platform for our vision and blueprint for how our community and ecosystem of partners can contribuer to Enhancing the platform, community app, and mobile solutions Throughout 2016

Financial Inclusion Initiatives of the Central Bank of Liberia focus on two key deliverables:

a.. Delivery of Financial Services

With a large portion of the Liberian population living within the rural area, Central Bank of Liberia has been focusing on means of delivering financial services to this sector of the population and integrating them into the formal economy.

b. Enhancing Access to Finance
In recognition of the Government of Liberia's goal of obtaining a middle income status by 2030 via the implementation of a development agenda that democratizes prosperity and 'lift' Liberians, the Central Bank of Liberia Board of Governors recognized that access to finance remained a critical barrier for Liberians and reached a decision to develop innovative means of stimulating the general economy through improving access to finance opportunities for Liberians to accomplish the following:

• increasing access to medium term financing;
• creating an environment for private sector job creation;
• improving and empowering the Liberian-owned business segment of the economy;
• providing needed financing to rehabilitate the agricultural sector; and
• addressing microloans loan portfolio needs

The Microfinance and Financial Inclusion Unit became a strategic conduit to the achievements of these objectives.   

In addition to this, you need to know more about it.

To compliment National Government on DFS interoperability, National Citizen Identification Registry, and Rural community financing, etc

I will like to partner with Mojaloop, Modusbox, MIFOS, Bill Gates Foundation, Central Bank of Liberia, GSM world, etc  because we are providing Last Mile Challenge for Digital Finance For the Poor, and we are already in contact with all our potential partners.