NEWSLETTER – MAY 2019

Training workshop on “Social Performance Management (SPM) as a tool customer satisfaction improvement”

Organized by MAIN in collaboration with Consortium Alafia, the workshop took place in Cotonou (Benin) from 16 to 18 January 2019.

The two and a half days of training enabled the twenty-three (23) participants from five (5) countries and sixteen (16) institutions to strengthen their skills and knowledge on the theme of social performance management and clients’ satisfaction. The two cross-cutting themes discussed were the Universal Standards of Social Performance Management (USSPM) and the Client Protection Principles (CPP) of the SMART Campaign. These themes are in fact standards in the microfinance sector, established to maximize its impact and thus to realize its original mission for development. The USSPM consists of a set of criteria divided into 6 dimensions, which take into account the various aspects of the practices that should be implemented to ensure that microfinance really helps its customers and is able to ensure its sustainability. The CPPs, integrated with NUGPS, focus on clients’ interests and their protection against risks related to financial services.

Training on the use of the Microfact Factsheet and Compiler

MAIN Network organized a training workshop on the MFIs’ performance analysis through the use of the Microfact Factsheet tool and the Compiler. From 8 to 11 April 2019 at BKBG hotel in Baguida, 15 participants from 7 countries (Benin, Burkina Faso, Burundi, Congo, Guinea, Mali, Senegal) has benefited from this training facilitated by a Microfact certified trainer.

Microfact is a joint initiative of ADA and BRS that proceeded to establish certain standards for measuring and comparing the performance of microfinance institutions. The MFI Factsheet tool allows to collect the financial statements of an MFI for several years in a single file for and to extract the main performance indicators. The compiler is used to gather, analyze and compare several Factsheets from various institutions, or from agencies of the same institution.

Microfact’s methodology proposes 16 main indicators divided into 4 categories:

Portfolio quality
Efficiency and productivity
Financial management
Profitability and viability

The objective is to provide the institutions with practical and standardized tools for the factual analysis their performance and making decisions accordingly. Participants were invited to report the training to their management and share the acquired knowledge with their colleagues.

Some testimonials from the participants in the training

Florence NIKIEMA, Main Accountant, MUFEDE-B (Burkina-Faso):
« I found useful to familiarize myself with the Factsheet tool because the analysis of these indicators brings a real advantage to my institution. I now plan to share the lessons learned with the different departments of my institution because they are all concerned.»

Geoffrey NKENGURUTSE, Deputy Director, COSPEC (Burundi):
« The analysis of the financial performance with the Factsheet and especially the Compiler allows us to compare the performances of the different agencies and their contribution to the overall result of the institution. It is important for everyone to be able to learn and interpret these tools for an effective consolidation. »

Financial inclusion in the WAEMU: BCEAO notes an increase in the overall rate of geographical penetration and aims in the next 5 years for access to financial services for 75% of the population

The Central Bank of West African States (BCEAO) wishes to make a big leap in favor of population access to financial services. From 55% in 2017, the BCEAO intends to reach 75% of WAEMU populations with access to financial services in 5 years.

“Our goal is to bring the population of our Union that can access to financial services in at 75% within 5 years. This is the main objective”

BCEAO has now included in its agenda a financial inclusion week. By doing so, the Central Bank of West African States wants to bring together all the actors involved in the financial sector to discuss current challenges. This is what Governor Tiemoko Meyliet Koné has presented among other objectives of the Dakar summit at the BCEAO headquarters.

The first edition of the financial inclusion week took place from 26 November to 1 December 2018 at its headquarters in Dakar, and in the eight WAEMU countries

https://www.bceao.int/fr/communique-presse/edition-2018-de-la-semaine-de-linclusion-financiere-dans-luemoa

Kenya: 83% of the population now has access to formal financial services

In Kenya, the proportion of the population that can access formal financial services is now 83% against 75.3% in 2016 and only 26.7% in 2006. This is what the Central Bank of Kenya (CBK) reveals in a report published today.

Entitled “2019 FinAccess household survey report”, the study was conducted jointly by the financial institution, theKenyan National Bureau of statistics (KNBS) and Financial Sector Deepening (FSD) in Kenya.

https://www.findevgateway.org/fr/announcement/kenya-83-de-la-population-d%C3%A9sormais-acc%C3%A8s-%C3%A0-des-services-financiers-formels

The “digital finance initiative”

Accelerate financial inclusion by helping MFIs to open new distribution channels and propose innovative products: this is the double social and financial objective of digital finance. For many MFIs taking this digital turn involves rethinking their business model. The project “digital finance initiative” was designed to accompany them in this process.

https://www.ada-microfinance.org/fr/nos-projets/fintech-finance-digitale#lapo