News - Training of banks and financial institutions professionals: MCA-Benin stands for the profile and specifics of microfinance institutions

From March 4th through 5^th, 2010, MCA-Benin organized for banks and financial institutions professionals in Benin a training workshop themed "Specifics in the operation and needs of microfinance institutions”. The Palais des Congrès in Cotonou was the venue for this major event.

First in a series of five programs scheduled over the year 2010, this workshop is part of the triennial training program intended to  Benin’s Banks and Financial Institutions staff. The program which is initiated and implemented by MCA-Benin is expected to benefit the banking sector over the 2008-2011 period.

Held under the aegis of the Ministry of Economy and Finance, the workshop was honored with actual participation of the Secretary General of the Ministry, the Permanent Secretary of the Professional Association of Banks and Financial Institutions (ABPEF) and the representative of the Millennium Challenge Account-Benin. Two days long, the two tens participants from banks and other financial institutions have been trained in the specifics in the operation and needs of microfinance institutions in Benin.

This training aims to increase participants’ (banks managers and banks directors) awareness on the specifics of the microfinance institutions, to showcase the need for a policy of financing Benin economy to a larger scale, and to propose strategies that help develop partnerships between banks and microfinance services.

According to the Secretary General of Ministry of Finance and Economy, "achieving this goal requires the introduction in our country, a system of banking and financial intermediation integrated and inclusive reference to serve the largest number’’.  In his opinion, such a system of mediation requires a mutual understanding of the specificities, objectives and needs of all stakeholders in the system for effective partnership and complementariness.

In his speech, the representative of MCA-Benin, Marc NOUNAGNON pointed out that " after fifty years independence , most of Benin's people, largely rural, still are excluded from the traditional banking system and living below poverty line”.    To his words, microfinance should allow the excluded majority to have - eventually - access to financial services as to finance their income generating activities; but microfinance providing institutions rather face difficulties relating to the financing of their projects and products. He therefore mentioned that “microfinance is currently in the process of molting from an ethic “mission” dominated sector to an interest-and -based approach as specific to private sector. 

Through this capacity strengthening workshop, MCA-Benin considers fostering   dialogue and partnerships between these two major development financing players, for optimum funding of the national economy.