43,000 clients of Millenium Microfinance in Togo benefit from a service of facilitated transactions between operators

43,000 clients of Millenium Microfinance can make transactions from an OTM in Togo to their savings account at Millenium Microfinance.

Millenium Microfinance (2M), a microfinance institution based in Lomé, has just launched its "Hebron" product, a "W2B B2W" service, with the support of ADA's "Digital Finance Initiative" project. 

Since December 10th, the 43,000 clients of Millenium Microfinance can make transactions from their e-wallet opened at an OTM in Togo to their savings account at Millenium Microfinance, and vice versa.

The clients save time and can move around with their 2M account in their pocket, 24 hours a day, 7 days a week, throughout the Togolese territory.

Millenium Microfinance was supported by the DFI project manager to define a digital strategy, develop the "W2B B2W" project and implement it.

The "Digital Finance Initiative" (DFI)

The Digital Finance Initiative (DFI) has been established over a 5 year period. It began in 2017 and will run until 2021.

The DFI’s objective is to help microfinance institutions (MFIs) to define and to implement their digital strategy in order to improve their financial and social performances and, as a consequence, to favour financial inclusion in their country.

ADA’s Digital Finance Initiative (DFI) represents an opportunity to accelerate the development of financial inclusion by supporting the MFIs and encouraging them to open up new alternative distribution channels to improve their geographic coverage and to offer new innovative products and services to their beneficiaries and/or to improve their operational efficiency.

In order to do this, these MFIs benefit from the support of a dedicated team of which helps them to identify their needs, to identify the digital solutions and to implement them by providing a financial contribution, as well as support to manage the project.

The DFI is therefore able to provide strategic, methodological and technical support, as well financial support to those who reach the stage of implementing the chosen solution.