Paper

Increasing Microfinance Outreach and Effectiveness in Africa

Increasing Micro finance Outreach and Effectiveness in Africa, 6-10 December 2005, Bamako, Mali
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This conference report highlights the objectives of African Microfinance Network (AFMIN) in the overall financial economic environment. The AFMIN 4th Annual Conference and Best Practices workshop was conducted mainly to:

  • Present a platform to stakeholders to share and recommend policy strategies for increased outreach of microfinance in Africa;
  • Reinforce the vision of building effectiveness, mutual accountability and good governance;
  • Provide opportunities for lateral learning and linkages.

The paper elaborates on various events organized during the course of the conference, which had participation of different microfinance actors - clients, regulators, microfinance practitioners, network leaders, technical service providers, donors and investors.

The paper concludes by making the following points as conference conclusion and participants' declaration:

  • Microfinance must be accommodated as part of the macro financial sector;
  • Microfinance must be viewed as financial sector component and not as poverty or development program;
  • Country level networks need to define framework for appropriate systems, effective and sustainable financial services;
  • Donors should focus on microfinance sector as a whole, and not emphasize only on the strongest MFIs;
  • Linkages with formal financial institutions must be increased to better serve the low income population;
  • Appropriate vision that translates into reality thus impacting microfinance outreach in Africa needs to be developed;
  • Information exchange across networks should be increased.

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