Microfinance association builds capacity of members
The Ghana Association of Microfinance Companies (GAMC) has launched a new project aimed at training and providing technical assistance to its members.
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Dubbed the Microfinance Companies Capacity Improvement Project (MICCIP), the programme is expected to improve the quality of microfinance companies and other small and medium-sized enterprises.
The launch of MICCIP followed the 1.5 million Euro agreement between Agence Francaise de Development (AFD) and the GAMC.
Speaking at the launch of the project at GAMC’s new office in Accra, the Executive Secretary of GAMC, Mr Joseph Donkor, said MICCIP project consisted of strengthening GAMC’s capacities and that of its training centre in the elaboration of its courses, as well as providing technical assistance to its members.
As part of the project, GAMC will select some of its members to benefit from an 18-month technical assistance programme.
It is also expected to increase transparency and confidence within the micro-finance sector leading to a more socially responsible and sustainable financial environment.
Misconception about Microfinance
Mr Donkor said his outfit was ready to work to change the misconceptions people had about the microfinance companies in the country.
According to him, the recent microfinance scam that rocked DKM Diamond Microfinance Company in the Brong Ahafo and other regions across the country had created a wrong perception about the microfinance industry in the minds of many.
Mr Donkor said a lot would be done to ensure that the microfinance industry regained its image as a reliable financial industry.
French support
The France Ambassador to Ghana, Mr Francois Pujolas, said the government of France was pleased to associate itself with MICCIP since it was aimed at helping the microfinance industry.
“When a large number of people do not have access to the banking system, a strong and resilient microfinance sector is an interesting alternative to support them,” he said.
According to Mr Pujolas “The project is also expected to increase transparency and confidence within the microfinance sector leading to a more socially responsible and sustainable financial environment”.