Promoting and developing transparent practices within the inclusive finance sector in Tanzania

As part of the partnership with the national network TAMFI (Tanzania Association of Microfinance Institutions) to promote transparency, 2 training sessions were held in December 2018 on transparency and financial education in Tanzania.
 
TRANSPARENCY WORKSHOP
10 to 12 December, 2018
30 participants – 22 MFIs

The purpose of this 2,5 days workshop is to get a full picture of the various components of transparency and to raise awareness on the industry standards and tools that exist to support improvement and disclosure. At the end of the workshop, participants know where they stand in a transparency graduation process and they leave with a clear action plan to implement.

Transparency workshop

Transparency workshop

 

 

 

    

 

  


Testimonies

‘As a National Microfinance Network, we think Transparency training for TAMFI members could not have come at a better time. We appreciate the support from ADA that has made the training possible. MFIs in Tanzania need such trainings because transparency has remained to be a major challenge to most.’
Winnie Terry,
CEO, TAMFI


‘I would like to thank the entire team and the sponsors for arranging such an eye opener and aware creation training. Transparency training was a learning experience and an exposure that is surely helpful. Although practice is required, but with time and dedication, it certainly is worth for all financial providers in the market. Am looking forward for continuous trainings on both workshops for financial providers and TOTs, so we can be pioneers in making the Tanzanian financial market transparent.’
Pendo Massawe
Operations Manager, Tujijenge Tanzania


‘The training was magnificent, relevant and practical. It touches the heart of Microfinance practices that no one could have imagined. As I see it goes beyond increasing business value but far most it creates humanity at business level because it insists on social aspects through transparency. I am sure most MFIs had an opportunity to evaluate their positions on transparency and pricing.’
Godson Mnkhari
Loan Officer, Same Kaya Saccos


‘The training on Transparency has become very useful in my daily job activities. It has alerted me on ensuring that my customers understand all key issues in a loan contract before they sign for a loan. The training also triggered my understanding on the benefits of being transparent and the methods used to calculate interest rates and making comparisons on the APR.’
John M Busobe
Microfinance Services Company Ltd, CRDB Bank Ltd


FINANCIAL EDUCATION RETREAT
6 to 7 December, 2018
55 participants – 38 MFIs

This two-day event brought together the leaders of the microfinance sector in Tanzania for a reflective and participatory experience that involves the head, heart and hands. The theme of the retreat was ‘Why financial education matter and how MFIs can promote it’.

Financial education

Financial education

 

 

 

 

 

 


Testimonies

‘Financial Education training was one of its kind. The trainer used participatory methods that made participants to understand easily.’
Naamala Samson
Learning and Development Manager, BRAC Tanzania


‘For me to attend Financial Education training was a worthwhile opportunity. It was a constructive training because it planted elements that are very crucial for the better future and road map of our organization. Our organization can now structure well the agenda of Financial education.’
Thadeus Clamian
Loan Officer


‘We really thank the donors who funded this training and TAMFI at large. Financial education training provided us with ideas on how we can make lots of changes in our working system, including financial education programs.’
Martin M. Ringi
Ringi Enterprises Ltd


 

July 2018

"Banco ADOPEM" MFI supported by ADA ranked among the best sustainable initiatives in Latin America!

Within the framework of the ADA-REDCAMIF project set up between 2012 and 2017, ADA supported the Dominican Republic MFI "Banco ADOPEM" for the development of inclusive rural and environmental financial products and services.
As such, ADOPEM has implemented a range of products called "FRA - Finanzas Rurales y Ambiente (Rural Finance and Environment)", declined in 3 products intended for small producers and agricultural enterprises, as well as women entrepreneurs living in rural areas.

With this initiative, ADOPEM ranks 234th among the TOP 500 of the best sustainable initiatives within the framework of the "Premios Latinoamérica Verde 2018" Prize supported by the UNPD (United Nations Development Programmes), out of a total of 2,733 applications received.

Premios Latinoaméricos Verde





ADOPEM's "FRA - Finanzas Rurales y Ambiente" programme was selected among the top 10 in the "Sustainable Finance" category.

For more information on ADOPEM's "FRA - Finanzas Rurales y Ambiente" products: https://bit.ly/2Nb2mcl

Certificado


December 2017

Implementation of the REDCAMIF II project from 2018 to 2021

The REDCAMIF II project, signed in December 2017 between the Central American and Caribbean Microfinance Network (REDCAMIF) and ADA, is an extension of the REDCAMIF - ADA alliance created in 2008 and strengthened since then by the implementation of a multi-year project between 2012 and 2017. 
Following an evaluation diagnosis, this new project will focus on identifying the needs of MFI clients, such as building their capacity and improving their access to responsible financial and non-financial services. The goal is also to create an impact in the microfinance sector in general, while involving other stakeholders to strengthen the skills of the regional network and national networks and effectively respond to the demands of their members.

The total amount of the project is € 4.3 million, 50% co-financed by both parties (ADA and REDCAMIF), over the period 2018-2021. ADA and REDCAMIF hope to provide 93 technical assistance training to MFIs in the region over these next four years.

This new project will focus on the following themes: social role, technology, development of high value added financial services, risk management and knowledge management at regional and national level.

Signature REDCAMIF

At the top: Gilles Franck (Vice-President of ADA) ; Fernando Guzman (member of the Board of REDCAMIF) ; Iván Gutiérrez (Exécutive Director of REDCAMIF).
At the bottom: Olivier Massart (Former Executive Director of ADA) ; Carlos Rojas Hidalgo (President of REDCAMIF)

 

November 2015

Our partner networks innovate and share their results in Luxembourg

ADA moderated a panel of exchange of experiences between networks at the e-MFP European Microfinance Week.

MCPI from the Philippines and Copeme from Peru, both prominent partners of ADA.

Three microfinance networks, three regions, three approaches to launch and disseminate innovative products through MFIs. That was the subject of the session presented by the networks MCPI from the Philippines, COPEME from Peru and the Pakistan Microfinance Network from Pakistan. The session, entitled " Implementing Innovation in Inclusive Finance: The Network Approach", was moderated by Benjamin Mackay, Innovation in Inclusive Finance Manager at ADA.

Why think about networks when we discuss innovation? Because as collaborative structures, networks have proven capable of pooling scarce resources, whether financial, human or technical, in order to provide their MFI members with the necessary tools, methodologies and incentives (financial or otherwise) to innovate more efficiently and effectively and increase industry uptake of new products and services.

Focus on the results shared by MCPI

Allan Robert Sicat, Executive Director of the Microfinance Council of the Philippines, Inc. (MCPI) opened the session presenting the DevSEA program, developed in partnership with ADA. DevSEA aims to enable the provision of sustainable energy solutions to micro and small businesses through MFI-based financial products. The pilot program began with the distribution, via a microcredit, of a Pico PV solar lamp.

Between March 2014 and September 2015, DevSEA enabled the sale of 949 solar lamps through 806 microloans, improving, directly and indirectly, the lives of 4.365 Filipinos.

Solar lights generate no pollution and recharge naturally through sunlight. They effectively replace the makeshift lamps connected on motorcycle batteries which discharge within 48 hours and travelling to town to for an expensive and polluting kerosene refill.

However, the challenges of such innovations are numerous. Allan notably mentioned that low profits from the sale of solar lamps do not encourage MFIs to promote the product. He also explained that cheaper but inferior quality solar lamps are swarming the market, impacting the sale of higher quality Pico PV lamps by MFIs.

DevSEA initial results are nevertheless encouraging and promising:

  • Loan disbursement targets for the pilot project were widely exceeded.
  • A Renewable Energy infrastructure in ASKI and PBC has been created to allow program expansion and to test on other RE tech.
  • The Asian Development Bank (ADB) now supports DevSEA through its Energy for All initiative. ADB provided a senior consultant as an adviser to DevSEA during the pilot phase.
  • The pioneer pilot MFI partners ASKI and PBC launched new energy loans for the commercialization of solar lamps.
  • Two new MFI partners, NWTF and PMPC, joined DevSEA in 2015.

To find out more about DevSEA…

Download for free the DevSEA presentation flyer and visit our partner MCPI online.


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