Promoting Inclusive Markets and Financial Systems
SEEP and The MasterCard Foundation Announce Networks Selected to Participate in Responsible Finance Through Local Leadership Program
Eight Networks from Sub-Saharan Africa Selected for this Four-Year Partnership
(Washington, D.C. – October 1, 2012) The SEEP Network and The MasterCard Foundation are pleased to announce the eight African microfinance associations selected to be a part of the Responsible Finance through Local Leadership in Sub Saharan Africa Program. These associations, with a collective membership of nearly 500 microfinance institutions, serving nearly 6 million clients, play a key role in supporting the sustainable growth of the microfinance industry. Selected associations include the Association of Microfinance Institutions in Rwanda (Rwanda), Consortium Alafia (Benin), Association Professionnelle des Systèmes Financiers Décentralisé du Côte d’Ivoire (Côte d’Ivoire), Association Professionnelle des Systèmes Financiers Décentralisé du Sénégal (Senegal), Associaҫão Moҫambicana de Operadores de Microfinanҫas (Mozambique), Ghana Microfinance Institutions Network (Ghana), Association of Microfinance Institutions of Uganda (Uganda) and the Association Professionnelle des Systèmes Financiers Décentralisé du Burkina Faso.
The selected associations will have a chance to meet each other at the upcoming Regional Network Summit, taking place on October 1 in Kampala, Uganda. The associations will also undergo the NCAT (Network Capacity Assessment Tool) assessment, a SEEP-developed formal process for conducting organizational assessments of networks and associations devoted to microfinance and microenterprise development in September and October.
“We’re thrilled to begin working with our partners,” says Jenny Morgan, Director of the Association Development Community of Practice at SEEP. “We believe that there is a lot that they can learn from each other, and that we can share with the broader microfinance association community in Africa. Through this program’s investment in developing their capacity to serve their members, clients of microfinance institutions will benefit.”
The four-year, $7.6 million partnership between The SEEP Network and The MasterCard Foundation will improve the core management capacity of these partner networks. It will also advance financial transparency and consumer protection principles among microfinance institutions, and share developments with associations across Sub-Saharan Africa to scale and sustain industry growth.
About the SEEP Network
The SEEP Network is the world’s largest community of microfinance associations. It provides global perspectives on the advancement of microfinance ensuring relevance with respect to local needs, broad participation, and leadership of practitioners. Members are connected in a global learning community spanning 170 countries. SEEP understands the powerful role microfinance associations play in advancing the sector and believe support to local associations is one of the most strategic investments that can be made. It has a proven model developed in its 13 years of working with associations and includes a suite of relevant tools.
About The MasterCard Foundation
The MasterCard Foundation advances microfinance and youth learning to promote financial inclusion and prosperity. Through collaboration with committed partners in 48 countries, The MasterCard Foundation is helping people living in poverty to access opportunities to learn and prosper. An independent, private foundation based in Toronto, Canada, it was established through the generosity of MasterCard Worldwide at the time of the company’s initial public offering in 2006.
Alison Yost, Communications Manager
The SEEP Network
Toni Tiemens, Senior Manager, Communications
The MasterCard Foundation