The BID-IFAD-Fonkoze Partnership: Enhancement of Remittance Services To And Within Rural Haiti

Transcription

1 The BID-IFAD-Fonkoze Partnership: Enhancement of Remittance Services To And Within Rural Haiti May 20, 2009

2 Presentation Highlights High level of the project What we did since the last cluster meeting; How we tried to integrate both side of the remittance corridor in our model? How we did our outreach and get the Diaspora involved?

3 About Fonkoze Founded in 1994, Fonkoze is a MFI which targets the rural poor, wherever they are in Haiti: 40 branches, in all departments of the country Over 1,000 credit and education centers 99% of our clients are women Mission Provide Haiti s poor with financial and educational services they need to make their way out of poverty; Eliminate in Haiti the type of extreme poverty that leaves families without hope by replicating proven models; Reverse the decline in Haiti s economy by empowering families to engage in sustainable economic development

4 Why did Fonkoze decide to add the Remittances in their portfolio? Assist families to increase the dollars available to them as a means of combating poverty Increase transparency, thereby contributing to downward pressure on the fees Increase loyalty of existing clients Means to attract new clients New revenue stream for Fonkoze

5 Highlight of Remittance Enhancement project Components Technology 18 branches were provided with satellite, batteries, invertors and computers Development of a Database of HTAs 300 Hometown Associations and support groups identified Capacity building activities 65 Fonkoze employees received training to use software and computers for transfers and specific software of partners Training of Haitian HTAs (Best practice for development and HTAs from other countries) (about 200 leaders trained) Training of Haitian HTAs and support group leaders on Financial literacy (training of trainers) (about 200 leaders trained) Partnerships CNB NJ, Moneygram, CAM, Dolex, BHD, Unitransfer, UNO and Allianza. Haitian Diaspora Outreach & Promotional campaign

6 Stats # of Branches % # of Savers 105, ,000 45% % # of Borrowers (1) 45,000 55,000 # Transfers (2) 18% Total value of remittances (individual and collective) (3) 28,803 65,500 56% $ 23,617,479 $ 39,500,000 40%

7 % of Transactions # by Partners 100% 90% 80% 70% 60% 50% 40% BHD Cam Uno Unitransfer Fonkoze 30% Moneygram 20% 10% 0% Q1 07 Q2 07 Q3 07 Q4 07 Q1 08 Q2 08 Q3 08 Q4 08

8 Average Value per Transaction (excluding Fonkoze Collective Remittances) $ $ $ $ Cam Unitransfer Uno BHD Moneygram $ $ $- Q1 07 Q2 07 Q3 07 Q4 07 Q1 08 Q2 08 Q3 08 Q4 08

9 Number of transfers monthly (excluding Collective Remittances) # of transfers M onth Feb-07 A pr- 07 Jun-0 7 A ug-07 Oct-07 Dec-07 Feb- 08 Apr- 08 Jun-0 8 A ug- 08 Oct-08 Average value per transaction monthly (excluding collective remittances)

10 Number of transfers monthly (Including Collective Remittances) Number of incoming transfers Average Value per transcation montly (including Fonkoze) Jul-07 Aug-07 S ep-07 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 N o v-0 8 Jan-0 7 F eb-07 M ar-07 Apr-07 May-07 Jun-07

11 What we are working on now? Open dialogue with the Haitian Diaspora and promotion of Fonkoze financial products Launch of Fonkoze Prepaid Debit card in the USA (IFAD-IDB) Services of Payroll, Investment accounts, Business Development* Future: Diaspora Investment fund (for small projects $50K and less) Database of successful projects and micro-franchise mechanisms Access to Needs Assessments and information about existing programs through website Launch of new Micro Insurance products (with AIC)

12 Haitian Diaspora (Migrants) and Development Almost 300 active HHTAs and support groups in the US, Canada and France Existing Federations: AFHED (Boston) CENTRECH (Montreal) FHARE (NY) ROCAHD (Montreal) Existing departmental Associations: FEDASE (South HTAs NY) Nord Ouest Reunit (NY) Tourinord (NY) Facilitators and HHTAs support group ORAISO (NY) Haitian Hometown Association Resource group (NY, Miami and Boston)

13 Questions? Comments? Ideas? Katleen Felix

14 The Fonkoze Branch Network Jan Rabel Answouj Pòdpè Gwomòn Latòti Pòmago Lenbe Mamlad Okap Milo Twoudinò Fòlibète Gonayiv Lestè Machandesalin Gran Rivyèdinò Sen Michel Montoganize Piyon Wanament Ponsonde Sen Mak Mayisad Ench Tomasik Boukàn Kare Tomonn Sodo Mibale Laskawobas Beladè Pwentarakèt Lagonav Kabarè Dammari Jeremi Okoto Bomon Okay Kanperen Ansavo Aken Sen Lwidisid Miragwan Twen Fondèblan Lavale Kotdefè Site Solèy Pòtoprens Leyogàn Bizoton Fondwa Tomazo Kwadèboukè Gantye Petyonvil Kenskof Marigo Latwazon Tyot Jakmèl Ansapit

15 Regardless of where our clients start, Fonkoze offers them a range of services to keep them on the ladder. We cannot make the climb for them but we can accompany clients to keep them from falling off.

16 The IDB-IFAD Partnership Program Name: Remittances and Rural Development Program in Latin America and the Caribbean: Strengthening the Income Generating Capacity of the Rural Poor in the Remittance Recipient Countries Objectives: 1. To support the development of low cost, efficient and accessible local financial and communications services for migrants and their families 2. To strengthen and empower migrant associations interest in supporting rural development in their countries of origin 3. To build the capacity of migrant associations for planning and implementing rural development activities in their countries of origin 4. To improve the income and living conditions of the rural poor through joint ventures between migrants and local organizations for sustainable rural agricultural and non agricultural enterprises