|After signing the grant agreement. Judith, Head of AFR|
UOB submitted a proposal for a grant to support its agent quality management programs in rural areas in September 2012. For several months, there had been no response due mainly to the vacancy in the Technical Director position. Right before this position was filled in the summer 2013, we received from acting technical director a notice that our $1,000,000 funding request has been approved, but at a reduced amount of $600,000 along with another Rwandan bank that is launching mVISA platform also. It was a wonderful news.
But, later we received a letter notifying that the grant request has been declined due to complaints filed by other financial institutions. Disappointing! But I do not dwell too long in the disappointing news. What can you do with a dead body? We felt that God must have had a different plan.
Surprisingly, however, we received a phone call from AFR early October, saying that they would reconsider our grant application subject to some modification. Hallelujah! I knew I believed in the resurrection!
We re-submitted the grant proposal with some modifications made and KPIs to measure our performance, which was approved in late October, with a few questionable moments. Finally, last week, on November 6th, we signed the grant agreement. The amount has been reduced to $300,000, but it is sufficient to support agent quality management activities for the next two years.
|mHose Agent Sign|
Since it was launched in April 2013, mHose has signed up more than 13,000 clients and 100 agents. The transaction volume for the month of October alone was more than $1.1 million through more than 33,000 transactions. That is an incredibly fast uptake. We are excited about the way rural clients will have access to financial services using their cell phones.
Thank you, Lord! I praise Your Name eternally! - Jeffrey