German state bank to fund expansion of Mozambique’s financial system into rural areas

27 September 2012

The Bank of Mozambique and German state bank Kreditanstalt für Wiederaufbau (KfW) are due Thursday in Maputo to present the second phase of a programme intended to expand the financial system o rural areas, the Mozambican central bank said.

Known as the Access to Finance Challenge Fund (AFCF), the programme prepared by the Bank of Mozambique and funded by KfW is intended to meet its objectives by co-funded the investments and services of the financial institutions.

The AFCF is a sub-programme created as part of the Programme of Technical Assistance to the Financial Sector, which is also funded by KfW, and intended to support the Mozambican government in improving the financial solidity of the system.

The presentation will involve specialists from both financial institutions. (macauhub)