Tell us about your partnerships
In delivering its services, CUMO works with:
a) local leaders (chiefs) to ensure that it is dealing with bona-fide members of the community;
b) banks and agro-dealer shops for disbursements and collection of loans; and
c) NICO life Insurance Company for delivery of insurance services.
USAID, UNDP/UNCDF and DFID have supported introduction of new services including entrepreneurship training, health insurance, point of sale devices, and equipment for expansion to new areas.
Are you currently targeting other specific populations, locations, or markets for your innovation? If so, where and why?
Yes. Unreached 14 districts of Malawi in order to contribute towards increase financial inclusion of rural people in malawi.
What type of operating environment and internal organizational factors make your innovation successful?
A wide branch network of agro dealers to serve as paying points in addition the bank branch network;
Resonable coverage of mobile phone based internest services;
Staff willing to live in remote areas
A well constructed Management Information System
An insurance Company williting to reach rural people
Sufficient Loan Capital
Customer oriented products
Please elaborate on any needs or offers you have mentioned above and/or suggest categories of support that aren't specified within the list
Demand for CUMO’s services is overwhelming hence additional resources whether pro-bono or by way of investment for on lending are a critical need. Support towards technological advancement is also important to increase efficiency and contain costs. Client education is a critical need which also requires grant funding.