Nigerian Emerges Vice-President African Microfinance Transparency | Independent Newspapers Limited
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Nigerian Emerges Vice-President African Microfinance Transparency

Posted: Aug 9, 2015 at 12:00 am   /   by   /   comments (0)

By Sola Alabadan, Lagos

A Nigerian, Alex Enyinnah, the Programme Director of Grooming Centre, has been elected as the Vice- President of African Microfinance Transparency (AMT), the flagship institution for the promotion of best practice and microfinance banks operational knowledge in the continent.

Enyinnah emerged as the first Nigerian leader of the association at its General Assembly held in Senegal recently.

The event, held alongside the African Microfinance Week (AMW), was sponsored by the Government of Senegal, Grand Duchy, Luxembourg and African Development Bank.

According to Enyinnah, his election was significant as the first Nigerian to occupy the exalted position in the microfinance renaissance movement dominated by francophone countries.

He said that his election would also encourage microfinance banks and institutions in Nigeria to join the AMT.

According to him, the association provides local microfinance banks links to international networks, funding vehicles, rating standards and technical resources.

AMT was established in 2003 with over 60 African Microfinance Banks and Institutions as members.

AMT is a non-profit organisation with the aim of promoting transparency and efficiency among African MFIs by encouraging and preparing them for external performance evaluations.

The organisation is also dedicated to bringing together key players to discuss the future of microfinance, financing of microfinance institutions and partnerships between regional and continental networks.

AMT’s main ambition is to become the major African organisation for microfinance professionals, where members can reflect on the industry, accelerate financial inclusion and economic growth on the continent.

The African Microfinance Week brings together stakeholders in Africa and the world to share experience on the core emerging issues in the industry.

The 2015 week with the theme “Accelerating Innovative Rural Finance in Africa,” was attended by 363 delegates, representing practitioners, funding vehicles, major networks, rating agencies, technology and innovation providers and multilateral agencies.

Four Microfinance Institutions, the Central Bank of Nigeria (CBN) and Ecobank, represented Nigeria at the forum.