Tweet

International Year of Microcredit Advisors Visit Kenya and Uganda: Princess Maxima, Diederik Laman Trip and Marilou van Golstein Brouwers Promote Microfinance on the Continent

Written by: United Nations Capital Development Fund

Article Overview: In the third week of February 2005, The Netherlands' Princess Maxima, ING Netherlands Chairman Diederik Laman Trip and Triodos Bank Senior Fund Manager Marilou van Golstein Brouwers visited Africa to promote the International Year of Microcredit and the importance of microfinance in the global fight to eradicate poverty.

International Year of Microcredit Advisors Visit Kenya and Uganda: Princess Maxima, Diederik Laman Trip and Marilou van Golstein Brouwers Promote Microfinance on the Continent

In the third week of February 2005, The Netherlands' Princess Maxima, ING Netherlands Chairman Diederik Laman Trip and Triodos Bank Senior Fund Manager Marilou van Golstein Brouwers visited Africa to promote the International Year of Microcredit and the importance of microfinance in the global fight to eradicate poverty.

As Advisors for the Year, Princess Maxima, Mr. Laman Trip and Ms. van Golstein Brouwers met with local entrepreneurs in Kenya and Uganda and learned how they benefited from microfinance services. They were joined by the Dutch Minister of Development Cooperation, Agnes van Ardenne, and Stein Albregt, Chairman of the Dutch Platform of Micro Finance. The group met officials from the ministries of Finance, Planning and Economic Development, as well as representatives of local microfinance institutions.

In Kenya, the Advisors met with the Governor of the Central Bank of Kenya, Dr. Andrew Mullei, to discuss policies to increase access to financial services by poor and low income people. In the context of this meeting, Dr. Mullei announced that Kenya is concerned with improving the financing of microenterprises in rural areas. To address this issue, Kenya is reforming its financial sector and amending a series of laws, including two relating to monetary policy and modernizing the National Payments and Settlements System. The Advisors' visit also highlighted the importance and urgency of the Microfinance Bill which is currently being prepared for presentation to Parliament, and covers the supervision and regulation of deposit-taking institutions. The group also visited Kenyan microfinance providers Equity Bank Limited, Jitegemea Credit Scheme, and K-Rep Bank.

According to Her Royal Highness Princess Maxima, "With all of the initiatives underway, Kenya is poised to develop a truly inclusive financial sector that will work to achieve poverty alleviation."

In Uganda, the Advisors met with Central Bank officials to learn about their successes and difficulties in implementing state-of-the-art microfinance regulation. In addition, the group met with representatives from 30 microfinance institutions, ranging from organizations which only provide credit, to more developed institutions that have converted into banks, and including Centenary Rural Development Bank, Uganda Women's Finance Trust, Finca Uganda and the Uganda Microfinance Union. Discussion centered on the obstacles to growth and how to reach the 90% of the population that is still unbanked and lives mostly in rural areas. The Dutch Ministry of Development Cooperation organized a seminar and invited most of the players in the microfinance sector, as well as politicians. The need for a liberalized financial sector was stressed in order to achieve competitive, client-oriented financial institutions. Other issues addressed during the visit included obstacles to good entrepreneurship development, above all for women. Overall, the group felt that the microfinance industry in Uganda is developing well.

International Year of Microcredit Advisors define the objectives of the International Year of Microcredit in its goal of promoting microfinance and entrepreneurship.

Related Articles
  Compassion International Invests USD 5 Million in Opportunity International to Develop Microfinance in Africa
  African Countries Focus on Microfinance: Twelve African Nations Engaged in the International Year of Microcredit to Date
  Another Microfinance Institution (MFI) Closes in Uganda as Chaos Continues in the Sector
  Ugandan Government to Set up Laws for Regulating its Microfinance Sector
  IV Module I Key Principles for an African Model of Microfinance

Article Tags: ardenne, brouwers, central bank of kenya, central bank officials, credit scheme, development cooperation, dr andrew, dutch minister, dutch platform, financial sector, global fight, international year of microcredit, local entrepreneurs, micro finance, microenterprises, microfinance institutions, monetary policy, poverty alleviation, princess maxima, royal highness princess



Related Forum Posts
Congratulations! - Hi Takuya, If her name is Queen, then she really will grow up as a 'Princess'. Does she have a middle name too? We wish you and your wife the best of health as well as the New Baby Reina. When I look at babies, I often think like the Psalmist: ...you knit me together in my mother's womb. .......because I am fearfully and wonderfully made. Ps 139.13-14 Be blessed. Beat
How to valuate a business - Hi Garth - here is how we did it at Northern Crown Capital when I was helping them raise venture capital for Toronto-based entrepreneurs. Assume the start date is 2003 so 2008 projections are 5 years out: How Northern Crown Capital Valuates a Business 2008 Financial Projections Earnings Before Tax $5,865,000 Tax Rate 42% Taxes $2,463,300 Net Earnings $3,401,700 Amount Seeking to Raise Today $3,500,000 Discounted Value of Future Opportunity, 5 Years Out 2008 P/E Ratio 15 Value of Company in 2008 $51,025,500 Discount Rate Applied 30% Year 2008 $51,025,500 Year 2007 $35,717,850 Year 2006 $25,002,495 Year 2005 $17,501,747 Year 2004 $12,251,223 Value of Company at Investment in 2003 $12,251,223 Less: Investment Amount $3,500,000 Present Value $8,751,223 Discount for Risk & Private Company 40% Less: Discount for Risk & Private Company $3,500,489 Private Company Value $5,250,734 Present Value (What the Owner Keeps) $5,250,734 60.00% Financing (What the Investor Gets) $3,500,000 40.00% Total $8,750,734 100.00% I hope this helps!
Adventure travel to Africa. - Africa is a place where adventure is taking place. If you are a travel who loves adventure, nature, culture you should visit Africa. Safari Village operator is a .leading tour operator in Kenya who are offering marvelous tour packages to Africa. Saffari Villages Online is a trusted name for africa travel.
Re: Franchising Brokers vs Franchising Consultants - I think whether it is a broker or a consultant in a real estate sector both their jobs are the same and they charge a fee for their services.Visit m3reo.com
Women Entrepreneur Suggestion - I would highly recommend Katharine Giovanni of Triangle Concierge . Katharine is the world leader when it comes to the errand/concierge and lifestyle management industries. She provides training, seminars, workshops, consultations and is called upon by people from all over the world. Katharine has been interviewed in numerous publications and interviewed by all forms of the media. Katharine founded the ICEA (International Errand & Concierge Association), Triangle Concierge, Triangle Concierge International and is a co-owner of XPACS Concierge service which providing services to athletes all across the world. She is very motivational, an excellent teacher, an inspiring role model for those of us in the industry, a major contributor in bring attention to the industry.


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Reverse Mentoring

How to Develop Your Powers of Thought.

Top Ten Home-Based Businesses

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.