After an intensive year, hiveonline has successfully completed the Mozambique Central Bank’s Regulatory Sandbox. This transformative initiative is driving accessibility to quality financial products and services for Mozambique’s smallholder farmers and agricultural workers, who make up 70% of the population, with 95% being smallholder farmers.
This approval means that hiveonline can provide third-party lending to users in Mozambique, especially smallholder farmers. It represents a significant stride in our vision to connect the rural agricultural sector with Mozambique’s formal financial services industry. Through hiveonline’s digital platform, farming communities can now easily apply for loans from Financial Services Providers. They can leverage their recorded identity, agricultural, and financial information in the system to demonstrate their creditworthiness. The approval also means that we can integrate with mobile money services and allow our users to make and receive payments in the app.
We thank Banco de Moçambique for their engagement and feedback throughout the sandbox period. Their scrutiny and feedback on our technology, processes and business model have ensured that we are a robust, compliant solution for the people of Mozambique. We look forward to working with them closely as we apply for a full licence.
Regulatory approval is also a major milestone for hiveonline and our long-term partner, Norges Vel. They have been instrumental in working with us to improve the financial inclusion of farming cooperatives in Mozambique.
We also thank our partner, Microbanco Confiança, for piloting these features with us and committing to offer loans via hiveonline’s platform. This feature not only passed the Sandbox’s rigorous review but is crucial for our progress in connecting marginalised smallholder farmers with the opportunities they need to grow their businesses and livelihoods.
Last but not least, we would like to express our gratitude to the Association For the Promotion of Modern Cooperatives in Mozambique (AMPCM) for their exceptional efforts in making this milestone possible through mobilizing farmers and promoting the adoption of our digital solutions.
This year, Norges Vel and hiveonline plan to continue expanding the opportunities for smallholder farmers in Mozambique. We will integrate carbon financing initiatives, expand farmer access to offtakers and forge more partnerships with financial institutions. We thank Norges Vel for their continuous support and look forward to further strides in enhancing financial inclusion.
Stay tuned for exciting opportunities and updates ahead!
Would you like to learn more about our solutions or to partner with us? Get in touch at sales@hivenetwork.online