The springing up of many microfinance companies has led to some entrepreneurs devising innovative ways of mobilising liquidity in the system.
A latest report from Bank of Ghana indicates a growing number of registered micro finance and money lending companies in Ghana. There are unregistered ones also operating in the country. Though a few of these companies appear to be performing below average, majority of them are making progress, moving from micro finance companies to non banking entities, to fully fledged universal banks. By their showing they are mobilising funds for lending to small and medium level industries and commercial companies.
These companies have provided employment to many Ghanaian young men and women. The roles of these companies appear to have caught the attention of reputable institutions in Ghana and the international community some of which are eager to provide them with the much needed support. One such organization in Concern Universal which has rolled out programs including a two (2) day Regional Micro Finance Conference (MOIs) from October 22 to 23 at the Ange Hill Hotel in East Legon Accra. According to a letter of invitation to participants signed by its Country Director, Juliette Lampoh the conference will be supported by the ACP-EU Micro-finance Programme
The theme of the conference is ?Enhancing Financial Inclusion for the Poor and Difficult to Reach Populations: the Role of Innovation and ICT?.
Its main aim is to share learning for enhancing financial inclusion as a tool for promoting holistic and equitable development in Africa
The 2-day conference will bring together about 100 practitioners, policy makers, civil society leaders and microfinance clients to showcase experiences from sustainable and replicable models for improving financial access to the poor and excluded populations.
The conference will provide an excellent platform to meet, share and connect with other practitioners while making contributions to the dialogue for enhancing financial inclusion for development.
The dialogue will be framed around the following sub-themes:
? Enhancing depth and breadth of financial services ? Linking formal and informal financial institutions
? ICT for outreach
? Rural agricultural finance ? successful financing models for smallholder farmers
The conference is likely to come out with strategy to improve on the activities of the increasing number of microfinance companies. This way the companies would experience improved efficiency and growth needed for the nation?s development and that of the West Africa sub region and Africa