Stakeholder Workshop On The Review Of The AFI Grant Policy Documents
The Payment Systems Department of Bank Ghana organized a workshop for key stakeholders to review the financial inclusion documents that had been developed with CDC Consult Ltd. These included the Holistic and Coordinated Financial Inclusion and Regulatory Framework, and Financial Literacy Framework that Promotes Inclusive Finance in Ghana. It took place from 10th - 13th January 2023 at Volta Serene Hotel, Ho.
Courtesy Call from GIZ-PFS Programme Manager
Following the end of the previous programme phase in 2022, the Component Manager, Mrs. Cynthia Odonkor and new Programme Manager, Dr. Christian Jahn for the Support to the Private and Financial Sector Programme (PFS), met with the secretariat heads of the various Microfinance Associations and GHAMFIN. The purpose of the meeting was to pay a courtesy call to the prospective project partners and have initial interactions with them. There was a brief introduction of the new programme and discussions on upcoming activities including the stakeholder planning workshop and provision of technical assistance on product development for a few Microfinance Institutions. It took place on Thursday, 16th February 2023 at the GHAMFIN House.
GIZ Stakeholder Planning Workshop
As the new programme “Support to the Private and Financial Sector-PFS” started in January 2023, it necessitated an engagement with the relevant stakeholders to get them to sufficiently understand the goal and indicators of the programme as well as the intervention areas so as to help with the planning of appropriate activities to aid in the achievement of the programme goals to kick start the implementation of activities. It took place on 28th – 31st March 2023 at Rock City Hotel, Kwahu Nkwatia.
GHAMFIN 2 nd Microfinance Forum
The Ghana Microfinance Institutiins Network (GHAMFIN) organized the 2nd Microfinance Forum under the theme ‘Building Resilient and Sustainable Non-Bank Financial Institution’s Sector in the Wake of Current Economic Challenges’. It took place on Tuesday, 4 th April 2023 at Holiday Inn Hotel, Airport. Participants at the forum included representatives from Ministry of Finance, Bank of Ghana, Microfinance Associations, Microfinance Institutions and GIZ-PFS.
Staff Training on Emotional Intelligence
A training was organized by GHAMFIN in collaboration with CapPlus for all Microfinance Associations’ secretariat staff and some staff of the banking and non-banking unit of the Ministry of Finance on Emotional Intelligence: An Effective Tool for Leadership, Improved Productivity and Staff Wellbeing. The consultant was Mr. James Kwesi Addison of Addison International Center for Emotional Intelligence. It took place on 23rd - 24th March 2023 at Sunlodge Hotel, Tesano after which all participants received certificates.
Training on Improving Liquidity Positions of Microfinance Companies
This training was organized with the support of GHAMFIN in collaboration CapPlus for member companies on Liquidity Management. Participants included credit officers, account officers, recovery officers, internal auditors, managing directors, finance and administrative managers as well as operation managers. The training covered Introduction to Liquidity Management, Sources of liquidity, Uses of liquidity, Identifying and managing liquidity risks and vulnerabilities, developing a liquidity management framework and policy, Diversifying funding sources to reduce dependence on a single source, Implementing effective liquidity monitoring mechanisms, Regular liquidity reporting and analysis. It was an extremely interactive session where participants shared and analyzed real-life cases of microfinance institutions and their liquidity management strategies as well as sharing best practices from microfinance companies which included Lessons learned and practical insights. The training was facilitated by Mr. Ellis. It took place on Tuesday, 20 th June and Wednesday, 21 st June 2023 with a total of twenty-four (24)[...]
CapPlus Forum
This forum was themed Beyond Silos for Scale and Impact. It was held on Wednesday, 27th June 2023 at La Palm Royal Beach Hotel. The program started with remarks from Bank of Ghana and Ms. Rosy Fynn, Mastercard Foundation’s Country Director, Ghana. There were presentations from FIRST+ financial institution partners about the transformations underway in their organizations to accelerate SME finance, especially for women, youth, and in the agricultural sector. Also, there was a panel discussion on addressing nonbank financial institutions’ need for affordable capital that is constraining their expansion of SME finance.
Microfinance Policy Development Workshop
Through the leadership of the Ministry of Finance and GHAMFIN with support from GIZ, the need for a Microfinance policy was agreed upon. In view of that, engagements began towards the development of the policy. Workshops were held to solicit the ideas of Microfinance practitioners on key issues that have come up in the Microfinance sector that would be considered in the policy. The sessions were held in Accra, Sunyani, Tamale, Kumasi, Takoradi during the last quarter of 2022. In 2023, stakeholders were engaged on the draft policy developed following the initial engagement in 2022. On Thursday, 26th October 2023, a national forum was organized where key stakeholders such as Bank of Ghana, Ministry of Finance, GHAMFIN, Microfinance Associations, GIZ, Association of Small-Scale Industries met to review the near final draft of the policy. The final draft shall be submitted by the consultant to the Ministry of Finance to be[...]
GIZ/KPMG Corporate Governance Training
In line with Bank of Ghana’s Corporate Governance directive, there was a need to build the capacity of member companies to better understand the directive, the need for it and enlighten them on how to adopt the needed measures for compliance as well as improve the operational capacity of their companies. The training was organized with the support of GIZ with facilitators from KPMG who have valuable knowledge and insight on corporate governance. The first training session was held for the Board of the Association in Aburi in the month of May 2022. Subsequently, training sessions were held in-person in Accra, Koforidua, Takoradi and Kumasi from May to July 2022 for member companies.
GIZ/Purple Almond New Companies Act Training
Following the passing of the new Companies Act, there was a need to build the capacity of member companies to better appreciate the Act and help them adapt to the new provisions within it. The training was organized with the support of GIZ and Purple Almond as the facilitator. It is worthy to note that the lead facilitator was part of the team that developed the New Companies Act. This allowed for a firsthand and in-depth understanding to the thinking behind the new Act. The training sessions were held in-person in Accra, Koforidua, Takoradi and Kumasi from August to October 2022.