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Recap of Day One

RURAL FINANCE INTERMEDIATION FOR GROWTH & WEALTH CREATION IN AFRICA August 18-20, 2010 Accra, Ghana. Recap of Day One. OBJECTIVES. The objectives of the workshop are: - Learn what exists, best practices, lessons learned in rural financing in the region;

vladimir-zimmerman
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Recap of Day One

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  1. RURAL FINANCE INTERMEDIATION FOR GROWTH & WEALTH CREATION IN AFRICAAugust 18-20, 2010Accra, Ghana Recap of Day One

  2. OBJECTIVES • The objectives of the workshop are: - • Learn what exists, best practices, lessons learned in rural financing in the region; • Identify innovations from current business approaches and business models; • Expose AFRACA member institutions to new and workable development strategies s in the sector; • Share experiences on how to scale-up desirable strategies and improve performance in reaching the rural sector and enhance financial inclusion.

  3. KEYNOTE ADDRESS The workshop presents an opportunity for sober reflection and stock taking, as we confront the enormous challenges that face us bankers, policy makers and practitioners, in designing products and services as well as strategies for lifting the majority of our populace from poverty and deprivation.

  4. ROLE OF REGULATORS Regulation (which encompasses laws, decrees, administrative rules intended to control behavior) is necessary because of failures in internal governance and market discipline. Regulations can enhance the soundness of and confidence in the financial system by ensuring that market participants have as much information as possible to judge the soundness of institutions.

  5. FINANCING AGRIC IN GHANA, LESSONS & OPPORTUNITIES Identification of cheaper sources of funding for Agricultural projects Effective collaboration with agricultural related institutions Opening up of viable bank outlets in rural areas and use of mobile vans. • Four new branches opened to serve the Farming Community in the Volta Region in the first half of 2010 • Other branches expected to be opened in the three Northern Regions.

  6. Financing Options for Smallholder Producers/Entrepreneurs in The Gambia • Microfinance • Traditionally provided by NGO’s with a view to lift smallholders out of poverty and graduate them to the formal financial system • Smallholder ventures are now regarded as commercially viable, they are being mainstreamed in the formal financial system • Traditional providers were very limited in outreach and product suites • New GoTG policy is attracting formal and professional practitioners to serve the smallholder producer/entrepreneur

  7. INTRODUCING RURAL BANKING TO THE WEST AFRICAN SUB-REGION The realisation that the existing framework for institutional credit did not favour rural development let to the search for a credit institution devoid of the disabilities of the existing banking institutions but possessing the advantages of the non-institutional credit organisations. This institution is what we call the RURAL BANK.

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