-Caveat Lector- Nairobi to Host Meeting on Microfinance Networks Africa News Service 08-APR-99 DAKAR, Senegal (PANA, 04/08/99) - Leading microfinance practitioners from 15 African countries will gather in Nairobi, Kenya, 28-30 April for a meeting aimed at building regional and country-level microfinance networks. An announcement about the meeting said Women's World Banking (WWB) and the UNDP will bring together 25 leading African microfinance practitioners to enable them "exchange experience, build common performance standards, and influence government policy to facilitate the growth of microfinance institutions in Africa." "These measures are essential if microfinance is to fulfill its potential in alleviating poverty and building broad-based economic development in Africa," it said. "All over the world, microfinance is recognized as one of the most effective means of giving poor people the tools to help themselves. Until recently, attention was focused on Asian and Latin American successes in providing microfinance," it added. However, research carried out by WWB and the UNDP indicated that a significant number of successful microfinance organizations operate in Africa. In an inventory of 17 countries -- Benin, Burkina Faso, Cameroon, Ethiopia, Ghana, Guinea, Cote d'Iviore, Kenya, Mali, Mozambique, Niger, Nigeria, Senegal, South Africa, Tanzania, Togo and Uganda -- more than 100 microfinance and rural financial institutions were identified. "These institutions are reaching large numbers of the poor, many of whom are women, with their services," the announcement said. According to the WWB, the African microfinance houses have done so well that nearly 80 percent of them mobilise savings and provide microloans (much higher than among most Latin American or Asian microfinance institutions) and over 50 percent of the clients are women. "These institutions are reaching the rural and urban poor with loans whose average loan size is under 300 US dollars. More than 50 percent of these institutions have a repayment rate of 90 percent or more," it noted. The announcement said that in June 1996 leaders from WWB, UNDP and African microfinance institutions met to identify key activities for the African networks. It added that the programme to build local networks in 15 countries was launched in South Africa in July 1997. The group met twice in 1998 in Ethiopia and Cote d'Ivoire to review results and renew commitments. "Now they are gathering in the Kenya to find ways to deepen their impact on microfinance in Africa. This WWB/UNDP programme is a commitment to the growth and success of African microfinance institutions." the announcement added. WWB is a leading institution in the microenterprise financing sector, with 40 affiliates in 34 countries. Through the direct services of its affiliates, partnership with governments and global policy initiatives, WWB expands the economic participation and power of low income women by improving their access to finance, information and markets. The gathering in the Kenyan capital will be the fourth meeting of a joint networking workshop for the microfinance practitioners. -------------------------------------------------------------------------------- ================================= Robert F. Tatman [EMAIL PROTECTED] [EMAIL PROTECTED] Remove "nospam" from the address to reply. NOTICE: In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. 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