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2013 Annual Conference and General Assembly
from 16/10/2013 to 19/10/2013
Addis Ababa, Ethiopia
The Africa Microfinance Network (AFMIN) and The Association of Ethiopian MicroFinance Institution (AEMFI) will organize the 12th Annual Conference and General...
2014 SPTF ANNUAL MEETING
KING FAHD PALACE, June 2-6, 2014 DAKAR, SENEGAL
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Press release : 1st African Microfinance Week in Tanzania
December 20, 2013
The first African Microfinance Week gathered over 250 participants in Arusha from 2nd to 6th December. 5 days of lectures, discussions, meetings and trainings brought together microfinance practitioners of all levels from 44 countries ‐ including 36 African countries – to discuss the topic of regulation in microfinance.
Organized by ADA, a Luxembourgish development association specialized in inclusive finance, with the support of regional networks, the conference was attended by Janet Zebedayo Mbene, Deputy Finance Minister of Tanzania, and Janira Isabel Fonseca Hopffer Almada, Minister of Youth, Employment and Human Resources Development of Cape Verde.
Mrs Mbene stressed the urgent need for coordinated action at all levels: "We must strengthen our microfinance institutions, as well as the regulatory frameworks, and ensure that microfinance is better integrated into the financial system." A vision shared by the sponsors of the event, Citi Foundation, the European Investment Bank, and, through ADA , the Ministry of Foreign Affairs of
Luxembourg .
The presence of more than 250 practitioners from networks and microfinance institutions, regulators, donors, social investors and technical assistance partners illustrates a strong sense of commitment to joint and transnational action on a number of key issues for the future of microfinance, such as
regulation.
The 2-day conference enabled 30 specialists to address issues related to the implementation and supervision of regulations and their impact on different levels: outreach, ownership, funding and financial inclusion.
The discussions highlighted the main contributions of regulations to the development of the microfinance sector. An analysis of regulation showed that, despite being implemented at different times in different countries, it had a beneficial overall effect on the development of the microfinance sector, which has grown to become a vibrant part of the financial sector. The sector boosted
financial inclusion and its contribution to financing the economy through both financial intermediation and job creation. Regulation also strengthened customer protection by increasing transparency regarding not just the MFIs' conditions but also their financial status, opening up new avenues for credit rating agencies and other trades.
To achieve greater financial inclusion in Africa, huge progress still needs to be made. An estimated number of 67 million of micro, small and medium enterprises in Africa totalize up to $ 450 billion of financial needs. Furthermore, 70% of enterprises on the continent are considered financially
underserved.
Read the Press Release
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