The objective of the project was to support the upgrading of Chifeng Zhaowuda Women’s Sustainable Development Association (CZWSDA) and eventually transformation into a commercially viable and poverty oriented MFI. This objective includes:
- Strengthening the institution;
- Increasing the scale and breadth of outreach to target markets;
- Achieving operational and financial sustainability.
- Prepare the association for the conversion into a shareholding based for-profit ownership structure.
- Set up business plan module and train the management.
- Improve structure, composition and functions of the Board.
- Set up an independent Internal Audit Department; introduce formal risk management.
- Enhance IT function in head office and branches.
- Implement modern MIS and accounting software.
- Set up separate HR function in head office, develop HR procedures and edit a HR manual.
- Optimize remuneration systems, including performance-based bonus payments.
- Increase scale and breadth of outreach (target additional client segments (urban), expand individual lending operations).
- Carry out in-depth market research among female entrepreneurs in urban areas of Chifeng district.
- Increase regional expansion (expand branch network, develop LT-marketing strategy).
- Increase loan size limits, optimize pricing structure, loan term and collateral requirements, optimize eligibility criteria.
- Review and amend credit policy manual.
- Develop a client service and marketing guide.