Speaking about the summit, Rwanda Association of Microfinance Institutions Executive director said that people are meeting in Kigali to forge ways ahead for the merging businesses.
John Peter Rwema, AMIR Executive director, noted that the meeting is in fact continental and all stakeholders and experts will be sharing different microfinance experiences and engage on forming better methods that further enhance national and continental microfinances.
It is the 17th time the African Confederation of Cooperative, Saving and Credit Associations (ACCOSCA) is meeting over developmental needs of the merging industry that much pertinent with Small and Medium Enterprises, SMEs now running most banking facilities in different countries.
Over 1000 delegates from 30 African countries and outside will for five days convene on one theme, “Promoting Africa Development Agenda through Financial Co-operative Integrated System” to discuss issues affecting the financial sector in the continent.
The potent intent of the meeting, however, is to forge financial relationships and interactions that can merge different microfinances into bigger banking facilities that better serve the continent’s populations.
“We want to unite the sector to better work in Africa. We need to create linkages, partnerships between microfinances and stakeholders to come with practically innovative ways that address many consummate issues in that sector,” Francois Kanimba, Minister of Trade and Industry and East Africa Community Affairs said ahead of the meeting. He added that SACCOs will have a platform to share experience and even unite.
Non-African countries but financial donors like USA, Germany, Canada, Netherlands, Croatia and Scotland will be present at the meeting to share their expertise in that banking sector.
The meeting takes place a day after today’s annual savings week that took place under the theme “The right path to self-reliance” that encourages a culture of saving to improve household income thus reducing poverty amongst different populations.