Financial Inclusion in Malawi (FIMA)

Report Cover Image
Evaluation Plan:
2010-2010, UNCDF
Evaluation Type:
Mid Term Project
Planned End Date:
12/2010
Completion Date:
05/2011
Status:
Completed
Management Response:
Yes
Evaluation Budget(US $):
110,670

Share

Document Type Language Size Status Downloads
Download document MWI_FIMA_MidTerm_0511_EN.pdf report English 1301.43 KB Posted 1034
Download document TOR_MALAWI_FIMA_FINAL.docx tor English 51.53 KB Posted 607
Title Financial Inclusion in Malawi (FIMA)
Atlas Project Number:
Evaluation Plan: 2010-2010, UNCDF
Evaluation Type: Mid Term Project
Status: Completed
Completion Date: 05/2011
Planned End Date: 12/2010
Management Response: Yes
Focus Area:
  • 1. Poverty and MDG
Corporate Outcomes (UNDP Strategic Plan 2008-20013)
  • 1. Capacities of national and local institutions enhanced to scale up proven MDG acceleration interventions and to plan, monitor, report and evaluate the MDG progress in the context of related national development priorities
Evaluation Budget(US $): 110,670
Source of Funding: project budget
Joint Programme: No
Mandatory Evaluation: Yes
Joint Evaluation: No
Evaluation Team members:
Name Title Email Nationality
Marc DE SOUSA SHIELDS Team Leader
GEF Evaluation: No
Key Stakeholders: UNDP
Location of Evaluation: Global
Countries: MALAWI
Lessons
Findings
Recommendations
1 Evaluation Recommendation 1: Develop an Wind-Up Strategy
2 Evaluation Recommendation 2: Consider Second Phase of FIMA Program
3 Evaluation Recommendation 3: Collaborate with World Bank and DifDprogram.
4 Evaluation Recommendation 4: Intensify Support MoF
5 Evaluation Recommendation 5: Work with Stakeholders to transfer knowledge.
6 Evaluation Recommendation 6: Intensify work to develop a credit reference bureau.
7 Evaluation Recommendation 7: Intensify support to strengthen the MAMN.
8 Evaluation Recommendation 8: Phasing out GoM retail inclusive finance activities where appropriate and possible.
9 Programmatic Recommendation 1: More market based product, service, and service delivery research.
10 Programmatic Recommendation 2: Improve governance structures
11 Programmatic Recommendation 3: Improve governance structures
1. Recommendation: Evaluation Recommendation 1: Develop an Wind-Up Strategy
Management Response:

Convene UNCDF and UNDP program meeting in first quarter 2011 to discuss and strategize wind-up and/or plan an extension

Key Actions:

Key Action Responsible DueDate Status Comments Documents
1.1 Stakeholder interviews to identify critical tasks to be accomplished Regional Office 2011/03 Completed
1.2 Assess feasibility/viability of FIMA closure, Discuss closure/extension with key stakeholder, particularly World Bank and DifD. If decision is not to close go to recommendation 2. 2010/01 Completed Government requested a new phase of FIMA
1.3 Draft exit wind-up plan. (See also recommendation 3) 2011/03 No Longer Applicable
2. Recommendation: Evaluation Recommendation 2: Consider Second Phase of FIMA Program
Management Response:

Develop plan for extension of FIMA or a second phase.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
2.1. Develop FIMA Appraisal plan and hire consultant to write plan. Regional Office 2011/06 Completed Consultant hired to work on formulation of FIMA II.
2.2 Consider focus on support to PIFIs transforming to formal financial institutions per the MFA. Regional Office 2011/06 Completed was provided to the consultant working on the formulation of phase II.
2.3 Consider locating program outside of GoM. Regional Office 2011/06 Completed This information was provided to consultant working on formulation of phase II.
3. Recommendation: Evaluation Recommendation 3: Collaborate with World Bank and DifDprogram.
Management Response:

In the event of either wind-up or a second phase, collaborate with the new World Bank DifDprogram to avoid overlap of interest, transfer of knowledge and possible future collaboration.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
3.1 Define transfer of knowledge and key activities to other programs or organizations. Regional Office 2011/06 No Longer Applicable Discussions are on-going with DFID and World Bank to identify ways of collaboration during FIMA II. UPDATE June 2014: FIMA II not programmed.
3.2 Work with organizations to transfer knowledge and networks Regional Office 2011/12 No Longer Applicable Since there is a potential for a Phase II. FIMA did not embark on knowledge transfer to networks. UPDATE: MARCH 2013, FIMA did not embark on knowledge transfer to networks due to potential for phase II; UPDATE: JUNE 2014, No phase II programmed anymore.
4. Recommendation: Evaluation Recommendation 4: Intensify Support MoF
Management Response:

Greatly intensify work with MoF to build its IF sector development capacity and knowledge as it takes on more responsibility for IF sector development.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
4.1 Develop plan of action for populating MoF with IF experts/staff Regional Office 2011/06 Completed Formulation of phase II will evaluate the possibility of doing this. UPDATE June 2014: No phase II programmed UPDATE Q4 2012: Proposed FIMA II Project included a plan to build capacity of MoF staff and took into account World Bank proposed support.
4.2 Develop IF sector development action plan for MoF. Regional Office 2011/06 Completed Formulation of FIMA II will take this into consideration. UPDATE Q4 2012:Plans included in FIMA II draft project document. UPDATE June 2014: No phase II programmed
4.3 Support initial implementation of action plan. Regional Office 2011/12 No Longer Applicable UPDATE MARCH 2013: Consensus on FIMA II Project not reached by key stakeholders. UPDATE June 2014: No phase II programmed
5. Recommendation: Evaluation Recommendation 5: Work with Stakeholders to transfer knowledge.
Management Response:

Communicate and transfer knowledge to IF sector stakeholders prior to and during project wind-up or during development of second phase.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
5.1. Develop communications strategy for wind-up/second phase development; ensure appropriate stakeholder input throughout. Regional Office 2011/03 Completed Formulation of phase II just started. UPDATE Q4 2012: Stakeholder consultations and workshops conducted. Draft FIMA II Project document finalized but consensus among key stakeholders not reached.
5.2 Work to transfer program knowledge and networks to key stakeholders. Regional Office 2011/03 No Longer Applicable Formulation of phase II just started. UPDATE MARCH 2013: FIMA did not embark on knowledge transfer to networks due to potential for phase II. UPDATE June 2014: FIMA II not programmed.
6. Recommendation: Evaluation Recommendation 6: Intensify work to develop a credit reference bureau.
Management Response:

Work with GoM to create functioning credit reference bureau serving the low income market.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
6.1 Bring together group of stakeholder with greatest need for and interest in a credit reference bureau (CRB) , including GoM. 2011/06 Completed This is part of the on-going financial literacy and consumer protection activity at the Reserve Bank of Malawi.
6.2 Develop plan for establishment of CRB within the year. Regional office 2011/06 No Longer Applicable This activity would be done during FIMA II. UPDATE MARCH 2013: This activity would be done during FIMA II. Two CRB established but not fully operational. UPDATE June 2014: No phase II programmed.
6.3 Provide resources and expertise to execute CRB plan. Regional office 2011/12 No Longer Applicable Need to agree with RBM first and foremost. Activity to be considered during FIMA II. UPDATE MARCH 2013: Need to agree with RBM first and foremost. Activity to be considered during FIMA II. UPDATE June 2014: No phase II programmed
7. Recommendation: Evaluation Recommendation 7: Intensify support to strengthen the MAMN.
Management Response:

Work to strengthen MAMN?s capacity to support sector training, network functions and funding base to ensure relevance and sustainability in the future.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
7.1 Work with MAMN to develop medium term strategic plan. Regional Office 2011/06 Completed
7.2 Provide resources and expertise to execute MAMN plan. Regional Office 2011/06 Completed
8. Recommendation: Evaluation Recommendation 8: Phasing out GoM retail inclusive finance activities where appropriate and possible.
Management Response:

Where appropriate and possible work with GoM to phase out its retail level inclusive finance activities.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
8.1. Convene meeting with relevant GoMrepresentatitves to discuss the impact, need, and efficacy of government owned/sponsored financial institutions in the inclusive finance sector. Regional Office 2011/06 No Longer Applicable Highly political issue. To be considered in phase when a CTA is in place.
8.2 Develop timetable and process for wind-up and transfer of assets/activities to private sector institutions 2011/06 No Longer Applicable This needs close coordination and presence of a CTA.
8.3 Resource the creation of an action plan for wind-up/transfer 2011/06 No Longer Applicable This needs close coordination and presence of a CTA.
9. Recommendation: Programmatic Recommendation 1: More market based product, service, and service delivery research.
Management Response:

Undertake more market-based analytics beyond basic supply and demand numbers, particularly at the beginning of projects (pre project if possible) and consider challenge fund grant making approach in future.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
9.1 Undertake market analysis during appraisal which identifies product, service, and service delivery needs Regional Office 2010/01 Completed Will be considered during formulation of FIMA II. UPDATE MARCH 2013: Considered in proposed FIMA II Project. UPDATE June 2014: No phase II programmed.
9.2 Undertake robust financial service provider analysis during appraisal that clearly identifies strengths, weakness and needs of potential partner institutions. Regional Office 2010/01 Completed Will be considered during formulation of FIMA II. UPDATE MARCH 2013: Considered in proposed FIMA II Project. UPDATE June 2014: No phase II programmed.
9.3 Integrate findings from 9.1 and 9.2 into a challenge fund approach designed to retain the benefits of demand driven proposals guided by research findings. Regional Office 2010/01 No Longer Applicable Will be considered during formulation of FIMA II. UPDATE MARCH 2013: Considered in proposed FIMA II Project. UPDATE June 2014: FIMA II not programmed.
10. Recommendation: Programmatic Recommendation 2: Improve governance structures
Management Response:

Program governance structures must provide a suitable forum for strategic decision making and accountability oversight on strategic decisions and tasks. UNCDF and UNDP representatives must periodically assess the performance of governance structures and performance

Key Actions:

Key Action Responsible DueDate Status Comments Documents
2.1 Define ideal governance structure based on previous UNCDF experience Regional Office 2010/01 No Longer Applicable Will be considered during formulation of FIMA II. UPDATE MARCH 2013: Considered in proposed FIMA II Project. UPDATE June 2014: FIMA II not programmed.
2.2 Develop standard approach plan with flexibility to accommodate local context. Regional Office 2010/01 No Longer Applicable Will be considered during formulation of FIMA II. UPDATE MARCH 2013: Considered in proposed FIMA II Project. UPDATE June 2014: FIMA II not programmed.
2.3 Provide ongoing performance reviews of governance structures. Regional Office 2010/01 No Longer Applicable Will be considered during formulation of FIMA II. UPDATE MARCH 2013: Considered in proposed FIMA II Project. UPDATE June 2014: FIMA II not programmed.
11. Recommendation: Programmatic Recommendation 3: Improve governance structures
Management Response:

Develop standardized UNCDF IF project report templates and definition while maintaining flexibility for program specificity

Key Actions:

Key Action Responsible DueDate Status Comments Documents
3.1 Revisit standard IF project reporting templates and definitions. Regional Office 2010/01 No Longer Applicable Will be considered during formulation of FIMA II. UPDATE June 2014: FIMA II not programmed.
3.2 Employ standard templates and definitions across program reports, contracts and appraisals. Regional Office 2010/01 No Longer Applicable Will be considered during formulation of FIMA II. UPDATE June 2014: FIMA II not programmed.

Latest Evaluations

Contact us

220 East 42nd Street
20th Floor
New York, NY 10017
Tel. +1 646 781 4200
Fax. +1 646 781 4213
erc.support@undp.org