Social Consulting

Malawi - Social Consulting and Microfinance


Social Opportunity

Sustainable Development Goal 8: Decent Work and Economic Growth

Social Consulting in Malawi aims to address several issues surrounding financial inclusion:

1) Lowering access barriers to finance: in Malawi, access to finance is the biggest obstacle to business (Malawi Enterprise Survey 2014). This barrier exists both in terms of cost and geography. By creating a tech-enabled microfinance institution, we are looking to lower operating costs and increasing geographic reach to increase access to financial services.

2) Financing productive assets, not consumption loans: one of the key criticisms of microfinance is that it can create debt traps for consumers, where consumers have to re-borrow to pay off the initial loan. By having strict criteria to finance productive assets which improve economic outcomes for consumers, we are looking to enable consumers’ independence and avoiding creating debt traps.

3) Making productive assets affordable to more people: productive assets often involve high upfront costs, which make it unaffordable for everyday consumers. This locks out many consumers from being able to improve their economic situation. By allowing this cost to be spread out across time, this makes key assets more affordable to everyday consumers.

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Lean Phase: Customer Segment Assumption: Creating a Risk Profiling method will reduce the current default rate by ensuring that loans are only provided to those who will be able to pay it back.  By interviewing existing customers with a mix between defaulting and non defaulting we will be able to gain metrics which will be used in our algorithm to test if we can give out a payment plan. We assume that there will be similarities in characteristics between defaulting customers which will...

by Olivia Dressler-Smith
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Olivia Dressler-Smith

Lean Phase : Customer Segment Assumption : With the defaulting rate of customers paying back on solar products on a repayment plan being at an alarmingly high 49%, we are testing the assumption that greater risk profiling at POS can mitigate this risk. To do this we are rolling out a risk profiling system which begins with a survey at the POS of repayment plans for solar products. Each answer of this survey adds or subtracts from that person’s ‘creditworthy’ total. If, after all the...

by Rafael Branton
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Rafael Branton