Seven Things to Know about Mercy Corps Nigeria Partnership with MoMo Agent

 

L-R:  The European Union Head of Cooperation,  Tassin-Pelzrr Cecile;  Country Director Mercy Corps Nigeria, Ndubuisi Anyanwu;   Chief Executive Officer, Y'ello Digital Financial Services (YDFS) a subsidiary of MTN Nigeria, Usoro Usoro; the ; BRICC Programme Director, Mr. Dez Byamukama and the Operations Manager, Mercy Corps, Ademola Kadiri  during the Building Resilience in Complex Crisis (BRICC) Partnership sign off ceremony between Mercy Corps Nigeria and MTN Nigeria at the Mercy Corps Office, Utako, Abuja.

To bring basic financial services to the unbanked and underserved communities, and improve livelihoods, Mercy Corps’ ‘Building Resilience in Complex Crisis (BRICC) program funded by the European Union, recently signed a new partnership with Y’ello Digital Financial Services (owners of the MoMo Agent Network) to efficiently deliver automated cash transfers and provide an avenue for participants with or without bank accounts to receive funds.

The European Union has pledged its total commitment to supporting efforts to collaborate among non-government agencies to ameliorate the sufferings of the victims of insecurity in northeast Nigeria, especially as COVID-19 has aggravated the impact of the conflict in the state, affecting market opportunities and increasing unemployment.

Here are 7 things to know about the partnership:

1. This partnership will kick-start the use of MoMo Agent in the distribution of conditional and unconditional cash transfers to 14, 270 households in Damaturu and Potiskum LGAs in Yobe State.
2. The interventions involve cash assistance to vulnerable households and young people, to help restore and improve livelihoods, making them more resilient to conflict, climate shock, and stress. Cash provides beneficiaries with the means and flexibility to decide and prioritise their recovery.
3. 1,570 youths will receive funds to help them start a business after undergoing vocational training like automobile repairs, agribusiness, fashion designing, food business, and phone repairs, among others.
4. The major goal of the BRICC programme is to build the resilience of communities, by providing them with the capacity and resources to respond to shocks and stress, which have been worsened by the COVID- 19 pandemic. By giving them cash gifts, beneficiaries will be able to respond to their basic needs and survive economic hardship.
5. Disbursement will be done via automated cash transfer, which reduces the cost and security risks associated with the transfer and direct distribution of cash.
6. The presence of MoMo Agents in communities where BRICC is implemented means faster and more efficient means of delivering cash transfers without participants having to wait in long queues. With an agent base of over 150,000 across the country, MoMo Agents provide safe, fast, and easy access to financial services for customers through their widespread presence and reliable service.
7. The partnership between MoMo Agent and Mercy Corps provides a unique opportunity to extend these benefits to the most vulnerable families in Yobe State and other conflict-affected states in the North East.

 

Y’ello Digital Financial Services is committed to ensuring that every Nigerian is able to seamlessly access financial services for their personal and business needs.  MoMo Agent is poised to deliver easy and fast cash transfers to beneficiaries of the programme in Yobe State and other locations within the country where required. The organization constantly seeks partnerships to support the financial inclusion strategy of the federal government of Nigeria.

MTN customers can dial *223# to locate the nearest MoMo Agent.