Since November 2020, COOPEC-SIFA, based in the Savannah region in Northern Togo, has implemented several solutions of its digital strategy with the support of ADA's "Digital Finance Initiative" project.
-
The 41,000 members can now carry out their operations in all the branches of the COOPEC-SIFA network (3 branches and 5 service points), which meets their need for local financial services;
-
COOPEC-SIFA's internal agents are now equipped with electronic payment terminals (Eftpos terminals) to record transactions in the field, during group meetings ;
-
A consolidated database at headquarters enables management to improve activity monitoring and reporting.
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.