Microfinance Focus, May 24, 2011: For implementing its Consumer Education for Branchless Banking (CEBB) program in Malawi, Microfinance Opportunities has recently entered in a partnership with Opportunity International Bank of Malawi (OIBM).

A $2.9 million joint program with The MasterCard Foundation, the CEBB is intended to test the use of financial education in supporting branchless banking among low-income populations in Asia and Africa.

Spanning over 3 years, the programme seeks to strengthen understanding of the value of branchless banking services among youth, women and the unbanked, and to build financial capabilities that can support the adoption and sustained use of mobile banking and electronic card services.

Opportunity International Bank of Malawi is currently offering its clients two branchless banking channels: “Banki M’khonde” and “Banki M’manja” service. “Banki M’khonde” allows customers to use their bank cards at local agents to perform cash in and out transactions whereas through “Banki M’manja” customers can access their bank accounts using mobile phones

OIBM joins Mobile Transactions in Zambia, FINO Fintech Foundation in India and RBAP-MABS in the Philippines as partners in the CEBB program. Over the next year, Microfinance Opportunities will continue to work with these partners to develop financial education toolkits for branchless banking.

Through the CEBB, OIBM will seek to reach 30,000 clients and merchant agents with financial education through a variety of channels, including radio, print media, and direct training, to increase the adoption of these electronic banking services.