Future Strategies for

Microfinance Institutions: Beyond Traditional Approaches

Benin City, Nigeria

29–31 October 2018

2nd International Microfinance Workshop Report

Programme Title

Future Strategies for Microfinance Institutions Beyond Traditional Approaches

Programme Director

Kenneth Okakwu

Director General, LAPO Institute

Programme Manager

Osamede Michael Edegbe

Senior Officer, External Training and Workshop

Report’s Author

Osamede Michael Edegbe

Programme Manager

Report Date

20 November, 2018

Produced by

LAPO Institute for Microfinance and Enterprise Development

Benin City-Nigeria

© 2018 LAPO Institute Layout and design by Michael Edegbe

Contents

Foreword 2

Acronyms 3

Overview of the Workshop 4

01 Opening Ceremony 6

>> African Map of 2018 IMW Participating Countries 10

02 Workshop Sessions 11

>> Thematic Session 1: Institutional Form, Ownership and Governance 12

>> Thematic Session 2: Governance at Management and Board Levels 15

>> Thematic Session 3: Capital (Funding) Strategies for Microfinance Operations 19

>> Thematic Session 4: Credit Scoring in Digital Banking. How far can MFIs Go? 22

>> Thematic Session 5: Delivery Channels and FinTech Innovations 24

>> Thematic Session 6: Fundamentals of Growth in Competitive MF Market 27

>>

Thematic Session 7: Leadership and Succession Planning for CEOs and

Management into Corporate Culture 30

>> Plenary Session on Institutional Forms, Governance and Funding Strategies 32

>> Plenary Session on MFI skill-set and Human Resource Capacity 34

03 Tour Visit 37

>> Benin Bronze World Heritage Site 38

>> Egedege N’okaro 38

>> Palace of the Esogban of Benin Kingdom 39

04 Appendices 41

>> Appendix 1: Workshop Programme 42

>> Appendix 2: Structure of the Workshop 43

>> Appendix 3: Feedback and Statistics 44

>> Appendix 5: Workshop Organiser and Partners 45

1

2

FOREWORD

Foreword I would like to present the following report of the

second International Microfinance Workshop which

took place in Benin City, Nigeria from 29 to 31

October, 2018. LAPO Institute with support from

local and international partners organised and hosted

the event in Benin City.

With the overall theme on ‘Future strategies for

microfinance institutions: beyond traditional

approaches’, the aim of the workshop was to launch

the African Leadership Forum – a platform to provide

microfinance practitioners (MFPs), and the public with

information that can help to galvanise financial inclusion

in Africa.

The advent of FinTech and entry of non-traditional

players into the microfinance landscape is fast impacting

how they operate. Changes in society, business models,

globalisation and shifting economic headwinds all

contribute to making it more difficult for microfinance

service providers to respond effectively to the market

demands with the right business solution and practice.

Re-strategising is therefore an important step for MFIs

to make breakthroughs beyond traditional approaches.

The IMW supports this process and help MFPs to

promote sustainable business operations.

Over the course of the three-day workshop,

participants from 5 different countries discussed how

integrated institutional forms, ownership and

governance can promote sustainable MfBs/MFIs future;

what funding strategies can be implemented to meet

capital calls, MCR by regulators, promote institutional

growth, and counteract financial crises when it arises;

strategies to leverage on the FinTech ecosystem; and

what deliberate process to emerging human resources

needs must be executed for smooth leadership

succession in MfBs/MFIs.

Also, the sector still has enormous potentials for

development to have comprehensive impact on

inclusive finance. The workshop made clear that, by

embracing current thinking and strategies,

microfinance institutions can make sustainable

breakthroughs beyond the traditional approaches.

The first IMW on Digital Finance held in Benin City in

2017 informed the discussion that puts the debate on

the potentials for microfinance institutions in Africa to

secure a sustainable future beyond the known

conventions. The platform opened up membership to

other African countries. Participants also adopted the

Benin City Report on Digital Finance.

Kenneth Okakwu, PhD

Director General

LAPO Institute for Microfinance and Enterprise

Development

I therefore would like to express my appreciation to

the organisers of the Workshop, Kimanthi Mutua, Dr

Godwin Ehigiamusoe and Rene Azokly. And to my

colleagues at LAPO Institute who together, organised

this successful workshop.

I am grateful to Mrs. Amen Akenbor, Head of HR,

LAPO MfB Ltd for a well organised tour, and to Chief

David Edebiri, the Esogban of Benin Kingdom, for his

support and hospitality of delegates during the tour. I

would also like to express my gratitude to the Keynote

Speaker of the workshop, Alhaji Umaru Ibrahim CEO,

NDIC for gracing the workshop through his

representative, Mr. Joshua Etepediok. Special thanks go

to Osamede Michael Edegbe, Programme Manager,

External Training and Workshop for his engagement in

hosting an outstanding three-day event.

In addition, I would like to acknowledge the people

behind the scene for an outstanding show of

commitment and dedication to a successful event.

Specifically, I am very grateful for the dedicated work

of the Working Group led by Osamede Michael

Edegbe, Abel Ovenseri and New-world Oboh who

contributed immensely to the outcome document.

Special thanks also go to the rapporteurs, the speakers

and MC, and the staff of LAPO Institute. The support

of sponsors and IMW partners also contributed to the

success of the workshop.

I hope you enjoy reading this report which capture the

main activities, and outputs of the workshop. By

compiling this overview of the main topics discussed at

the workshop, we shed light on how we can move

from global goals to local actions. This, in turn, can

motivate you and your institutions in making significant

breakthroughs.

Acronyms

BRAC Building Resources Across Communities

BTC Benin Traditional Council

CBN Central Bank of Nigeria

CEO Chief Executive Officer

DG Director General

HR Human Resources

IMW International Microfinance Workshop

MCR Minimum Capital Requirement

MD Managing Director

MfB Microfinance Bank

MFIs Microfinance Institutions

MFPs Microfinance Practitioners

MSME Micro, Small and Medium-scale Enterprise

NDIC Nigerian Deposit Insurance Corporation

NGOs Non-Governmental Organisations

NPV Net Present Value

TA Technical Assistance

3

4 OVERVIEW

Overview of

the Workshop

More than 100 participants from 5 different

countries and 42 organisations representing

different interests met in Benin City, Nigeria,

from 29 to 31 October 2018 to exchange ideas

and good practices, create and strengthen

partnerships, and discuss the topic ‘Future

strategies for microfinance institutions: Beyond

traditional approaches’. The occasion was the

second International Microfinance Workshop

(IMW) – a platform designed to provide MFPs,

and the public with information to help deepen

the development of financial inclusion in Africa.

The workshop drew representation from

regulatory agencies, tertiary institutions, FinTech

agencies, non-governmental organisations

(NGOs), and microfinance experts to discuss the

potentials of MFPs as they contribute significantly

to financial inclusion agenda in Africa. Delegates

also strategised on effective ways of supporting

MFPs’ achievement of sustainable development

and making breakthroughs.

The dynamic nature of our societies, the advent

of FinTech and entry of non-traditional players

into the microfinance ecosystem is quick affecting

how they work. Also, globalisation and shifting

economic headwinds all add to making it more

troublesome for microfinance institutions to

react successfully to market needs with the

correct business solutions. Thus, the workshop

bolsters the procedure to help MFPs advance

towards sustainable business operations.

Obviously, with the end goal for microfinance to

stay significant and turn into a vital, basic piece of

the financial industry, the sector needs to exhibit

it can accomplish scale up and develop

reasonably, and along these lines, have important

effect on the financial inclusion landscape in

Africa.

5

OVERVIEW

The workshop was a platform to network, gain

insights and exchange views. The platform put

best practices, innovation and technology which

are fast affecting the microfinance landscape at the

centre of its dialogue with the belief that radical

new thinking will be required to directly address

the current urgency for new market solutions that

will drive more sustainable microfinance business

into the future.

Going forward, viability is key to microfinance

sustainability and therefore, a crucial driver to

making breakthroughs is for MFPs in Africa to

advance beyond the old-style of client service

delivery.

Discussions also centred on the actions MFPs can

take towards corporate governance, funding,

product/service range, how to leverage on the

FinTech ecosystem, and what deliberate

institutional actions must be implemented for

smooth leadership transition, with the various

sessions featuring presentations from

international microfinance and HR experts from

Republic of Benin, Kenya, Nigeria, Sierra Leone,

and Uganda.

A tour to historical sites in the Ancient City of

Benin also took place during the event to enrich

the programme. Delegates were on tour to the

ancient site of the Benin bronze casting,

learning histories rooted in the artifacts; and to

Egedege N’ okaro (First storey building) in Benin

City, standing for over a century. The tour also

included a visit to the Palace of the Esogban

(The Oracle) of Benin Kingdom.

At the end of the tour, delegates appreciated the rich

cultural heritage of the Benin Kingdom and left with

memorable experience.

01

Opening

Ceremony

7

OPENING CEREMONY

SPEAKER

Dr. Godwin Ehigiamusoe

MD/CEO, LAPO Microfinance Bank Limited,

Nigeria

The MD/CEO of LAPO MfB Ltd, Dr. Godwin

Ehigiamusoe, officially declared the second IMW

open on 29 October 2018. Dr. Ehigiamusoe also

took the floor to welcome participants to the

event. The following speaker then took the stage

to deliver a keynote address: Alhaji Umaru

Ibrahim, Director/Chief Executive Officer, Nigeria

Deposit Insurance Corporation (NDIC)

represented by Mr. Joshua Etopidiok.

Using some of the activities of LAPO-Nigeria for

about a decade as an example, Dr. Godwin

Ehigiamusoe explained the capability of

microfinance to mobilise its resources and fulfil its

goals through effective partnership. He illustrated

this with the modest successes of LAPO Institute

through its innovative microfinance and

entrepreneurship products and programmes. The

activities of LAPO-Nigeria epitomises that indeed

microfinance can be practiced successfully.

MfBs/MFIs never need to stop; ‘You must

continue to partner with relevant local and

international institutions, to deliver next levels of

inclusive financial delivery models to clients in

Africa. He said, such carefully worked out

partnership is a major opportunity to advance the

thinking and actions of microfinance stakeholders

to deliver on their mission. It is also a major

milestone that the outcomes of this workshop

will be useful to the players in improving the lives

of Africans.

8 OPENING CEREMONY

KEYNOTE SPEAKER Umaru Ibrahim Director/Chief Executive Nigeria Deposit Insurance Corporation (NDIC), Nigeria

Alhaji Umaru Ibrahim spoke about the policy

objective of the NDIC, which was to provide for

an orderly means of compensation for depositors

of microfinance banks in the event of failure of any

of the institutions through Deposit Guarantee.

The Corporation guarantees payment up to a

maximum of USD$549.48 (NGN200,000) to an

insured depositor of a failed Microfinance Bank. In

line with its objective as a risk minimiser, he

highlighted some other mandates of the

corporation to include: active involvement in the

supervision of the microfinance subsector to

ensure its stability and safety. He said, ‘Pursuant

to this, the Corporation in active collaboration

with the CBN, mounts off-site and on-site

surveillance on the insured MfBs. Other

programmes of the Corporation include conduct

of Bank Failure Resolution and Bank Liquidation.

All of these programmes, he said, are relevant to

furthering inclusive finance. There is still much to

be done to achieve the microfinance goal both in

Nigeria and in Africa. ‘Sadly, in September 2018,

154 MfBs had their licenses revoked by the CBN.

Mr. Ibrahim highlighted the challenges facing

microfinance banks to include: undercapitalisation,

poor asset quality, lack of microfinance knowledge

and experience, poor corporate governance,

inadequate/lack of rendition of returns to

supervisors, high operating cost, scarcity of

loanable funds, and limited outreach and low

literacy level.

9 OPENING CEREMONY

Aware of the challenges bedeviling the subsector,

he spoke about some of the interventions of the

corporations. The intervention is to counteract

the challenges and ensure viability and

sustainability in the sector. On Financial and

Technical Assistance (FTA), he said, the

corporation foresaw that some MfBs might have

funding challenges requiring liquidity assistance

and thus, issued a FTA policy framework derived

from the NDIC Act 2006. “The framework

provides various prudential thresholds for

supervisory intervention in the event that the

solvency and liquidity of any MfB is under threat.

To instill public confidence in the subsector, the

corporation has intervened by way of ensuring

prompt resolution and orderly exit of failing and

failed MfBs in Nigeria through Failure Resolution

and Liquidation.

There is also capacity building assistance for

microfinance operators. The Corporation in

collaboration with CBN, established the

Microfinance Certification Programme (MCP) for

staff of MfBs to enhance their skills in

microfinance, and other numerous programmes

aimed at strengthening capacity in the subsector,

explained Mr. Ibrahim.

Mr. Ibrahim called on microfinance operators to

access the funds made available by the CBN

(MSME USD$604.4 million [NGN220 billion]) in

order to serve their client well. He advised that

cost of borrowing should be kept reasonably low

and affordable. To conclude, Alhaji Ibrahim said

that the outlook for the microfinance subsector

is bright given that microfinances operators

should manage their banks and resources in a

creative and responsible manner that would build

customer’s confidence in the sector and growth

of the economy.

Africa Map of 2018 IMW

Participating Countries

Republic of Benin

Nigeria

Kenya

Uganda

Sierra Leone

02

Workshop

Sessions

The workshop consisted of seven thematic action sessions and two plenary

sessions on institutional forms, governance and funding strategies; MFI skill-

set and human resources capacity; and MFIs leadership and succession

planning challenges. These activities rounded out the event. The following

pages provide an overview of the outcomes of these sessions and

workshop discussions.

12

WORKSHOP SESSIONS

Thematic Session I:

Institutional Form, Ownership and Governance

SPEAKER

Mr. Kimanthi Mutua

Founder/CEO, K-Rep Group

Kenya

The first session examined how institutional

forms and governance supports the achievement

of sustainable MFI goals. Mr. Kimanthi Mutua

began with a brief introduction of what the

structure of microfinance used to look like in the

early 1980’s when the first generation of NGO

microfinance institutions were established. He

submitted that the organisational structure in

terms of ownerships and governance were not as

they are currently due to massive reforms that

have taken place in the sector.

Mr. Kimathi Mutua explained that with the

coming of other new entrants, the microfinance

space transformed from just NGO-based to

commercial-based. This change brought about a

departure from poverty alleviation mindset

towards profit maximisation.

13

WORKSHOP SESSIONS

Elements that shaped the current institutional

form, ownership and governance were mentioned

to include: regulatory changes; and technological

innovations by FinTech providers. These have

given rise to emerging competition between the

traditional MFIs and new entrants, performance of

new entrants with skilled and commercial-focused

staff, profitable microfinance market, and changes

in market dynamics

On institutional form, the speaker mentioned that

access to capital initially was a lot easier than what

obtains currently. This he said was because

commercial goals for traditional MFIs are weak

while that of commercial-oriented institutions

were very strong. Again, he stated that both the

staff in traditional MFIs as well as the commercial-

oriented MFIs, have this strong desire for growth,

but on different motivations. For the Traditional

MFI staff, it is all about pro-poor centred products

and services and contentment with the

remuneration. For the commercialised MFIs, it is

profit maximisation and fat remuneration

packages.

On ownership, Mr. Kimanthi maintained that

ownership structure of the NGO MFIs was quite

different from that of the commercially-oriented

MFIs. It was obvious that these ownership

structures determine the rate of growth in terms

of capital mobilization. Making the traditional MFIs

competitive according to him, can be achieved by

formulation of short, medium and long-term

strategic ownership plan.

On governance, he informed the audience that

there is a direct relationship between the

effectiveness of an MFI and its ownership

structure. He went further to identify

incompetence, individual differences and conflict

of interests as obstacles to the growth of

microfinance institutions. The role of the Board,

he advised, should be on monitoring and

oversight.

In conclusion, he advised that MFIs should put

measures in place and take the courage to deploy

such measures in checkmating Board excesses.

The Board should equally be proactive,

revolutionary and ready to embrace innovations

rather than dwell so much in the past.

Delegates wanted to know the public perception

of the status of regulated MFIs and whether the

deposit mobilisation should still remain the same.

The speaker maintained that the public quoted

institutions tend to be well accepted by the public

because of the uncertainties in government

regulatory policies concerning microfinance. Also,

participants wanted to know how a MFI can grow

without losing grip of its ownership. The speaker

maintained that the solution lies in MFI ability to

raise capital and mobilise enough deposits to

remain competitive as the commercial banks.

14

WORKSHOP SESSIONS

On whether there is a plan B in case of

transformational changes that may affect the

NGO-MFIs, it was advised that the option lies

with constituting a very strong and result-oriented

Board that can envisage likely changes. The Board

when constituted should begin to function

immediately before the final transformation is

carried out.

15

WORKSHOP SESSIONS

Thematic Session II Governance at Management and Board Levels

SPEAKER

Mr. René Azokly

COO & Representative of PAMIGA for West

and Central Africa; Member, Board of Director,

LAPO MfB Limited

The objective of the second session was to discuss

holistic strategies for delivering and implementing

microfinance services through multi-stakeholder

approaches and integrative governance

structures. Key questions included: in choosing

Directors, how should MFIs ensure that they do

not become competitors as a result of what they

already know about the organisation? How can

MFIs derive absolute loyalty from Board members

in order to deliver integrated governance and

multi-stakeholder partnership? How can MFIs

establish accountability and tackle Board members

call for multiple meetings just to max their

remuneration? Is the control of the DG above the

assessment of the Board?

To provide insight into practical governance

mechanism for delivery microfinance services

sustainably, Mr. René Azokly presented various

best-practice and lived experiences. He explained

that the rapid changes which have reshaped

ownership and governance structure in the sector

in recent times are tech-driven.

16

WORKSHOP SESSIONS The speaker explained that the emergence of

FinTech has also fanned traditional NGO-MFIs

into the commercial banking realm, where most

of them are doing well. Those that have embraced

technology have really transformed while the least

adaptive ones have completely disappeared from

the scene, he said.

Furthermore, governance has played important

role in the guiding processes and maintaining the

growth of organisations. The speaker submitted

that effective governance should share knowledge

as this is part of the governance structure that

must be in place for great successes to be

achieved.

It was the speaker’s view that there should be

effective control and synergy which can only be

constituted by good governance structure.

Drawing from personal experiences, he advised

that committees should be formed at the board

levels, citing three: finance, audit and risk

management committees. Although these

committees are independent of each other, they

yet work in synergy and should be composed of

qualified and competent individuals, he

emphasised.

For effective decision making, Mr. Azokly

explained that the Committees are to functionally

report to the Board for decisions to be taken on

peculiar issues. This committee concept is an

innovation that is mandatory for institutions that

have corporate status. He said, innovation makes

it possible for MFIs to function in consonance with

the Committees reports. The speaker mentioned

innovations should be considered at different

levels of governance namely: General Assembly,

Board of Directors, and Administration Council

Sanctions

Mr. Azokly underscored that sanctions should

be applied whenever the needs may arise

without reservations. The applicable sanction

must be holistic covering all stakeholders in

the organisation’s payroll as the case may be.

Formation of organs

Mr. Azokly noted that organ formation is

essential to board functionality and

effectiveness. The speaker expounded on a

personal experience, how he categorised the

Board into different organs namely: passive

organs; active organs; representative organs;

and mixed organs.

Passive organs are characteristic of key man

risk, and tend to relegate the input of other

staff. The aura is that other staff contribution

may not count. This corporate reasoning

could kill the organisation. Active organs

consist of very active, skilled, and experienced

staff. The author notes it is capable of creating

lots of institution problems. Given, the staff

might have been hired from other financial

institutions, coming in with different

orientation and overzealousness to urgently

succeed which may lead to conflict of

interests. Next, representative organs have

member from reputable organisations -

academia, politics, financial sector etc. They

often come with their connections to pull

resources together but may never have time

to do serious board business. A board

consisting of these calibre of individuals may

not function effectively and would eventually

suffer setbacks.

17

WORKSHOP SESSIONS

Mixed organs are a mix of individuals that have

the reputation, name, experience and passion for

the organisation, which could be exploited for the

good of the organisation.

The speaker underscored board duties to be

driven by diligence, proactive insight and

innovation. Other key ingredient to an effective

and efficient sense of duty were highlighted

including: loyalty to the institution where they are

serving as board members should be adequately

protected; and conformity to the laid down

standard and procedure. The speaker note

explained that choice of board members should

be devoid of elections. Expertise consideration

was advised.

In conclusion, the speaker recommended that

training of the board members should constitute

an integral part of the effective boardroom

administration; objective evaluation of directors

using standards set by the board; and adequate

remuneration of board members commensurate

with the job they are doing. Therefore, the

success and sustainability of a MFIs should start at

the board level and moving downward from

there.

18

WORKSHOP SESSIONS

Thematic Session III

Capital (Funding) Strategies for Microfinance Operations

SPEAKER

Mr. Kimanthi Mutua

Founder/CEO, K-Rep Group

Kenya

PANELLISTS

The third session focused discussion on

positioning growing MFIs to attract funds from

social investors for accelerated growth into

matured MFIs. The speaker discussed what steps

to take to manage multiple investors for cheap

fund.

Mr. Kimanthi Mutua said that the funding

challenges faced by transformed MFIs calls for

prompt concern. According to him,

‘diversification in sources of funding is key to the

growth of MFIs and the sector’.

He highlighted various traditional sources of

funding including: donor grants; borrowed funds

(bank loans); customer savings; private sector

capital; and equity investment. The speaker was of

the opinion that these various traditional sources

of funding do not have the capacity to move the

sector to the desired level but should not be

entirely discarded.

19

WORKSHOP SESSIONS

For instance, the speaker mentioned that equity

funding is tense for smaller MFIs, as it requires

strong financial control and management which

they lack; high tendency for eventual take-over

by government agencies or investors.

On the other hand, foreign source of borrowed

funds is slightly cheaper for microfinance service

providers. MFIs with proven track record have

ease of access to this source of funding. Most do

not require Board position and imposed TA

which may come with stringent conditions

attached. However, it is not easily accessible by

smaller MFIs because of too many intrusive

covenants and exposure to forex risks.

Generally, when it comes to funding, be it

deposits, capital or borrowed funds, financing

through deposits remains the best practice in

microfinance, considering that they are less

onerous, inexpensive, readily accessible and are

a stable source of funding. Deposits drives the

success of retail financial institution. Also,

deposits unlike loans provide cross-sale

opportunities for services and products, he said.

Other highlighted alternative funding options

include: venture capital, crowd funding, credit

guarantees and debt instrument (bonds).

Mr. Mutua, emphasized the necessity for a

holistic approach towards deposit mobilisation

that involves not just the credit officers alone

but also other internal stakeholders. He said,

“Everybody from the MD to the cleaners must

be able to sell the products. Therefore, deposit

mobilisation is a task for everybody even though,

some people are specifically driving the

process.”

He cautioned that capital and borrowed funds

should be the least preferred source of funding for

institutions because it is an expensive funding

source. Again, he said that borrowed funds though

dominant, restricts the institution from long-term

expansion planning.

Funding Strategies

The speaker talked about the need for MFIs to

develop short, medium and long-term strategies

that align to institutional form, ownership and

governance structure. Short-term funding

strategies highlighted includes: traditional sources;

borrowed funds and capital; identify best-fit

partners; equity participation from partners;

employ exit strategies; focus on developing

relevant infrastructure, technology platform and

deposit products; diversify source of deposits.

Next, medium term funding strategies could

include funding sources and application policies. It

also involves identification of skill-sets required

(board & senior management), prioritise deposit

product and appropriate channels, planning for

changes in business model, validation of fit for

purpose of the institutional form, and managing

growth strategies to reduce dependency on

borrowed funds. Finally, long-term funding

strategies identifies deposits as the main source of

fund, Board and top management with

appropriate skill-sets, PR and marketing the

branding strategies to influence public perception

and staff KPIs giving more weight to deposit

mobilisation.

20

WORKSHOP SESSIONS

Deposit mobilisation

In conclusion the speaker noted that deposit

mobilisation still has its challenges. For instance,

success in lending does not necessarily translate

to success in deposits mobilisation. Most times,

existing borrowers do not save in MFIs. This

poses a challenge in growing the deposit. Also,

it takes time to change client perception, and to

win public confidence and trust. Unfortunately,

most MFIs have no strategies to reduce their

dependence of borrowed funds and their staff

are often not skilled in deposit mobilisation.

22

WORKSHOP SESSIONS

Thematic Session IV

Credit Scoring in Digital Banking: How Far Can Microfinance

Institutions Go?

SPEAKER

Mr. Kamal Budhabhatti Chief Executive, Craft Silicon, Kenya

The objective of this session was to examine the

benefits and the challenges of credit scoring in

advancing financial inclusion in Africa.

The guest speaker, Mr. Kamal Budhabhatti,

opened the session with a discussion on the

concepts of mobile money and mobile lending. He

told the audience that nowadays, people do not

like to visit banks anymore, rather they use

specially designed mobile phone apps to do a lot

of transactions. ‘Core banking services are today

taken to customers right in their palms through

hand-held devices such as mobile phones,’ he said.

22

WORKSHOP SESSIONS

The speaker then talked about some FinTech

products developed by Craft Silicon specifically

for microfinance banks that has reshape the

microfinance ecosystem. These products have

features that takes care of existing and a potential

customer. Customers are charged little for the

processing of their transactions when compared

to the stress and time wasted trying to get to a

bank branch. The default rate is to be kept low

and the flexibility of the product allows a

customer to do a lot of other sundry transactions

such as purchasing airtime and payment of bills.

The speaker noted that over 5 billion dollars is

transacted across the platform every year.

How it works

The software is designed as to request for vital

information by simple inputs either with National

Identification card or BVN as the case may be.

With this, the information about the person is

analysed and payment is made. The person’s

credit worthiness is determined and the amount

to be disbursed decided. The model is quite

complimentary and robust.

Key questions asked centred on: the capacity of

the system in handling several loan requests at a

time; what measure should MFI deploy in case of

loan default? How will MFIs recover borrowed

money if it lends to somebody that is not a bank

client?

In providing responses, the speaker noted that

because lending goes up and comes down at

different times, the system is flexibly built to

handle such situations. As regards loan recovery,

the speaker said that technology is used to detect

actual bank customers. The identification features

allow MFIs identify the non-customers and these

categories are not to be kept within the

traditional banking platform. Rather, a separate

platform is created for them by the system. In

cases of loan default, the system automatically

requires the person to pay a certain amount

before disbursement. It also locks the person out

for a certain period within which, he or she

cannot scale-up even when the payment has been

made. This condition will make them not to

default because it may be difficult for them to

access further loans next time, he said.

23

WORKSHOP SESSIONS

Thematic Session V

Delivery Channels and FinTech Innovations

SPEAKER

Mrs. Cecilia Njoki Thuita

Manager, Faulu Microfinance Bank Ltd.

Kenya

This session focused presentation on the effects

of the disruption which digital finance (FinTech)

brings to traditional microfinance delivery

methodology. It examined end-to-end guide to

implementation of evolving digital platforms and

what strategies MFIs should take to benefit from

them.

The speaker began with explanation of FinTech

as a concept in finance operations generally and

microfinance operations in particular. FinTech

came about as a necessity for MFIs to render

adequate, efficient and reliable service s to their

clients at less cost.

She described current generation customers as

those who will want banking services brought to

them at home with so much ease. Her concern

was the branchless banking system, which is fast

sweeping the financial landscape and the seeming

ignorance of stakeholders in African

microfinance industry.

24

WORKSHOP SESSIONS

She gave an example of a branchless bank called

Revolut. This bank according to her has no known

location and yet, has remained a bank of choice

raking in so much money as profit. Even in

accounts opening, the customer takes charge of

the process and has total control of his or her

money.

FinTech Positioning

She highlighted three different FinTech positioning

models namely:

1. FinTech as a channel – in this model, FinTech

is not a separate business unit but simply a

channel as part of a multi-distribution strategy.

Digital platform is run as a channel with similar

metrics to other physical channels.

2. FinTech as an internal business unit – This

model treats FinTech as a fully stand-alone BU

with a P&L, inside the core. It drives the

customer experience digitisation across

touchpoints and can adopt new operating

models to drive agility.

3. FinTech as a standalone business – FinTech as

a fully stand-alone business, separate from the

core. Digital platform has its own P&L and

customers enabling it to act quickly and be

disruptive, as well as provide services to the

MFI.

She suggested that MFIs should position their

Fintech channels in a separate platform instead of

the core banking system.

She illustrated the impact of FinTech in the

financial services sector across some countries

of the world. It was established that, especially

in Africa, while more commercial banks are

taking up FinTech models and closing some of

their branches, MFIs are busy opening up new

branches because of traditional method they are

still using.

The sustainability of this traditional approach is

fast eroding since it does not make for efficiency

and the level of growth desired. Relatively,

drawing on the experience of FinTech services

providers in Kenya with those in Nigeria,

delegates choice of model crystallised. She

noted that getting clients to open an account,

nowadays, can be a lot easier through FinTech

solutions. The Generation Y that would not like

to go to the banking hall is already here. So how

do you service this generation who will

eventually run the financial and economic affairs

of different countries in Africa tomorrow?

The speaker noted that Africa MFIs are yet beset

with myriads of challenges including: limited

infrastructure, human capital gap, the belief that

customers do not need service/product

digitization, and credit risk appetite.

25

WORKSHOP SESSIONS

Strategic options suggested by the speaker for

MFIs to maintain competitiveness in the ever-

changing financial landscape include:

- Have a digital transformation strategy,

- Ensure customer experience

transformation,

- Adopt branchless banking,

- Enhance operational excellence models,

- Leverage on strategic partnership

The speaker highlighted some key benefits of

deploying FinTech to include: lower cost of funds;

and lower cost of infrastructure.

Key questions such as ‘What are the security

experience like using these digital platforms? Why

is it that digital money, cashless money seems to

be working better in Kenya than in Nigeria? and

what the average interest rate charged by FinTech

service providers in Kenya is, were asked?

With regard to digital platform security, the

speaker suggested a multi-layer security features

that will make it difficult for hackers to break in.

There were a couple of cyber theft in Kenya

before government came up with regulations that

checked the crimes. Contrasting the operability of

digital money in Kenya vis-à-vis Nigeria, the

speaker submitted that it was an issue of the

regulators or may be because the banks are not

insisting on what their demands should be. In

terms of interest charges, in Kenya, it is less than

1% per day.

In conclusion, she identified key digital drivers

and advised any serious-minded MFI to begin to

structure its existence around these drivers,

simplification and efficiency, retention and

persistency, revenue generation, risk mitigation.

These she explained, would steer MFIs towards

competitiveness and immune to shocks that may

come with government policies, incursions by

commercial banks and negative public

perceptions.

26

WORKSHOP SESSIONS

Thematic Session VI

Fundamentals of Growth in Competitive Microfinance Market

SPEAKER

Dr. Godwin Ehigiamusoe

MD/CEO LAPO Microfinance Bank Ltd.,

Nigeria

Dr. Godwin Ehigiamusoe posited that,

Microfinance has evolved through different

phases over the years. He emphasised that

currently, we are in the commercialisation phase

which is characterised by fierce competitions

with customers emerging as kings and queens.

Any microfinance Institutions that wishes to

remain operational must pay attention to

acquisition; maximization and; retention.

Trends in Microfinance

The speaker was of the view that microfinance

has really changed from what it used to be in the

past. These changes, he noted, occurred in three

major phases of development: feasibility,

sustainability and commercialization. Each of

these have their distinctive features.

27

WORKSHOP SESSIONS

Business growth strategy in a competitive

environment

The speaker further outline strategies for MFIs to

remain in business in this ever-growing

competitive market

• Conventional strategies

• Merger and acquisition (M&A)

• Cost reduction

• Application of technology

• Innovation and great products and services

He advised that client’s satisfaction should be

treated as priority by making sure that clients

Enlistment or Acquisition, Client Maximisation

and Client Retention is pursued with vigour. This

can be achieved by acquiring the right customers

through the front door of your business. It also

entails being innovative in the type of products and

services you render to the clients which suits

them and at the same time trying to make sure

that they have every reason not leave.

Customer Service Vs Customer

Experience

Juxtaposing customer experience versus

customer service, the speaker noted that there

is mark difference between them. Customer

service is transactional - provision of quality

products in a right approach. Disburse loans in

the right volume and on time. Customer service

is also logical. it is about what you do. On the

other hand, customer experience is relational –

friendly engage the clients and willingness to go

the extra mile. It is also emotional - how you do

it. The speaker, therefore, advocated for MFIs

to meet client tangible and intangible,

informational and affiliation needs in order to

sustain business growth and remain competitive.

In conclusion, MFIs should brace up for some

challenging moments which could be as a result

of tense nature of our business, the large

number of transactions and clients. In all these,

it is very possible to remain firm and friendly at

the same time.

2003

1990s

Feasibility

Phase

Sustainability

Phase

Commercialisation

Phase

Advocacy for integration of

MFIs into mainstream

financial sector

Replacement of donors and

grants with investors and

commercial funds

Emergence of large and for-

profit MFIs

The emergence of client

protection

Full range of products and

services

FinTech

Full-blown competition

Entry of various MFIs

(Grameen, ASA, BRAC,

AIM, Banco Sol, K-Rep)

Transition from microcredit

to microfinance

Changes in indicators to

realistic performance rating

proving feasibility of the

practice of providing poor

people with financial

services

Singular product (credit)

Financial plus services

(health & other social

services)

Non-profit organisations

Diversification of financial

products and services

Earlier

28

WORKSHOP SESSIONS

Thematic Session VII

Leadership and Succession Planning for CEOs and Management into

Corporate Culture

SPEAKER

Dr. Biodun Adedipe

Chief Consultant,

BAA Consults Ltd,

Lagos, Nigeria

Financial strategy is challenging enough for

MFIs but research shows that leadership,

succession planning and employee transitions

remains one of the top concerns of CEOs in

most organisations while facing the question

about their company’s future. The session on

Leadership and Succession Planning was aimed

at discussing how CEOs/Management of MFIs

can and should integrate succession planning

to ensure smooth leadership transition.

Dr. Abiodun Adedipe noted that the

challenges involved with this process and ideas

for succession planning were delicate, and

some institutions fail at it. ‘It is always difficult

for organisations to make good leadership

transition. There is equally apprehension and

uncertainty whenever a leader is about to exit

an organisation. This leadership succession

process tends to disorganise the organisational

balance,’ he said.

29

WORKSHOP SESSIONS

The speaker talked about the significance of

succession planning, which supports MFI

sustainability. He underscored the need for

organisations on thriving performance to be

inward looking in picking the best person to

succeed the Chief Executive. On the other hand,

‘an organisation in turn-around situation must be

outward looking for the best hand. Experienced

and exposed people are very important when it

comes to executive management staff position.’

Dr. Adedipe said that training is instrumental in

human development but succession planning goes

beyond training to a deliberate exposure of the

would-be person for the executive position in

future. The transition has to be systematic,

beginning with creating leadership mentality in all

the people, he said. Essentially, for succession plan

to be effective, the key risk positions should be

considered. Management of MFIs should identify

internal stakeholders with the potentials to make

it to the top and give them a level playing ground

with the mandate of the organisation, said Dr.

Adedipe. Grooming these persons through the

culture of the organisation and using the

organogram is essential for this, and it can be

made competitive by other structures like

bringing in two or more Executive Directors.

However, any objective purpose can be

tumbledown by allowing sentiments. Therefore,

he called attention for MFIs to look beyond

sentiments – that is, your child or any other family

member may not always be the right person to

succeed you; not even tribal sentiment is enough

consideration, look outside for the best.

Succession planning should transcend sentiments

to competence and capability. Therefore,

organisation should avoid the snare, he said.

PLENARY SESSION

Plenary Sessions

The second International Microfinance Workshop featured three plenary sessions, which addressed: (i)

institutional forms, governance and funding strategies, and (ii) MFI skill-set and human resources capacity

Plenary I

Institutional Forms, Governance and Funding Strategies

PANELLISTS

Mr. Kimanthi Mutua

Founder/CEO, K-Rep Group

Kenya

Mr. Rene Azokly

COO & Rep of PAMIGA for West/Central Africa

Republic of Benin

Pst. (Dr.) Olatunde Oladokun (JP),

Executive Programme Director,

SEAP, Nigeria

CHAIR

Dr. Godwin Ehigiamusoe MD/CEO, LAPO MfB Limited Nigeria.

The Chair in his introductory speech, informed

the audience that microfinance was no longer

what it used to be in those days. There was

nothing like par until around 1997 when portfolio

changed. He noted that the entire landscape has

changed with times. On the one hand, he

observed that microfinance client segment has

changed. On the other hand, structural dynamics

in institutional formation, ownership and

governance have equally been experienced in the

microfinance ecosystem. Focus have gradually

shifted from microfinance to the new paradigm

called financial inclusion. Be that as it may, the

question remains how should MFIs respond to

these changes?

Mr. Kimanthi Mutua in his submission,

emphasised that the changes taking place must be

embraced and institutionalised. This process must

be driven by technology. He gave instances of the

shopping malls of yester years that have been

taken over by the likes of Amazon who are deeply

into online retailing of almost all commodities.

This is the reason the rest of the MFIs sector

should become tech compliant as fast as possible.

31

PLENARY SESSION

This movement in his advice should be driven by

the institutional form, ownership and

governance.

Pst (Dr.) Olatunde Oladokun in his contribution,

stressed the need for value reorientation and

objectivities in the sector. The trend has really

moved from the first-generation era of NGO

MFIs to a more complex and technologically

driven era. He advised that the operators should

not be afraid to adopt these latest innovations.

Mr. Rene Azokly reiterated an earlier position

that most DGs of organisations in the past

dictated to their secretaries but the tenet today

is no longer the case. In those days, there were

no clear-cut institutional form, ownership and

governance. Nowadays, most MFIs and MFBs

have transformed from NGOs to commercial

banks. The laws and regulations in some

countries made this possible as well as the

transparent governance structure. Mr. Azokly

said that the new governance structure also made

FinTechs of today applicable in microfinance

services. Powerful devices like phones, tablets as

well as numerous application systems have all

aided the growth and transformation of the

microfinance sector. The new governance

structure equally raised the qualification bar from

what it used to be years back to a today’s Board

composition characterised by highly skilled and

competent persons, he said.

Mr. Mutua spoke about FinTech partnership and

cautioned MFIs against such partnership that can

take Africa out of business. Technology in the

sector should be embraced fully because Africans

have equally developed competitive applications.

Pst. (Dr.) Olatunde Oladokun was also of the

opinion that advocacy is good. The need for

information sharing is key for the growth of the

microfinance sector. The big MFIs should bring

their technologies and expertise to bear on the

sector for the sake of the growing ones, he said.

Mr. Kimanthi was of the view that the

transformations as witnessed currently, is a

healthy one that must be sustained. He advised

operator to form a strong bloc with the capacity

to challenge any unfavourable government

policies and push for only reforms that would

benefit the industry.

In conclusion, the Chairperson, acknowledged

the existence of strong competition in the sector

and advised MFIs to get prepared for stiffer

competitions. He later hinted that the wave of

transformation will be determined by three major

things namely, technology, public perception and

regulation. In all these, the interest of the

stakeholders should be paramount.

32

Plenary Session II

MFI Skill-Set and Human Resource Capacity

PANELLISTS

Dr. Biodun Adedipe

Chief Consultant, BAA Consults

Lagos, Nigeria

Kimanthi Mutua

Founder/CEO, K-Rep group

Kenya Mr. Rene Azokly COO & Rep of PAMIGA for West/Central Africa

Republic of Benin

Dr. Godwin Ehigiamusoe

MD/CEO LAPO MfB Ltd

Nigeria

The Chairperson gave brief introduction

wherein, he emphasised the need for MFIs to

invest in human capacity development as way of

improving on their services. He informed the

audience of how LAPO invested over 2 Billion

Naira in capacity building over a five-year period.

Dr. Adedipe in his contribution, commended the

organisers of the workshop and emphasised the

importance of training and other human capacity

development programmes to an organisation. He

identified policies, procedures and practices as

the three principles that determines the success

of an organisation. He describes human capacity

as larger than what it is known for, it is all

encompassing. The performance of the entire

staff is key and must be taken care of so as to get

right. The process of staff selection (recruitment)

must be properly done and devoid of any

emotional attachment.

Mr. Kimanthi Mutua, was of the view that in

recruitment, the organisation must be careful in

the number of new persons who are coming in

so as not to saturate the organisation with alien

organisational cultures. The quality and loyalty of

staff is essential in microfinance operations. The

sector is a sensitive area that must not be toiled

with, if the public perception of the sector is to

remain positive. He equally re-emphasised

performance management.

33

PLENARY SESSION

Mr. Rene Azokly observed that an institution can

only be successful when individuals in the

institution have integrity. The bad ones can

damage the reputations if allowed into the

organisation. The size and structure

notwithstanding, integrity is key and even the

good staff cannot be said to be immune when

certain pressures come his way. He gave a

person experience of how they invested much in

recruitment and training, but the staff were

eventually poached by commercial banks.

The challenge was that other staff that came

from banks had another mindset. The traditional

staff had poverty alleviation mentality, but this

mentality did not go down well with those that

came in from outside. The salary was different

this time because we had to pay fat salaries to

the new comers while our traditional staff had

little. This created disunity in the organisation

until it was managed to some extent. We were

able to contain this situation in future by

contracting consultant in the recruitment

process who were mandated to spell out and

inculcate the organisational culture into the

potential staff during the process.

Dr. Biodun Adedipe also spoke on the process

of training different categories of staff. He

started from the lowest category which he

termed, ‘shop-floor level’. This level needs

relationship skills and particularly, customer

relationship skills. For middle level management

level, people management skill is needed. A lot of

human capacity training is needed at this level.

Top management level requires capacity building

in strategic planning and strategic execution of

the plans.

In conclusion, the Chairperson and other

resource persons were unanimous in avowing for

an MFI engage in capacity development

programmes, prudent use of resources, get the

staffing exercises and development right,

strengthen performance management, and to

view investment in human capital as an asset.

Furthermore, he said, management of MFIs

should treat staff training and re-training across

all levels as a matter of priority.

Dr. Adedipe spoke about poaching as one of the

serious issues faced by every organisation. There

is no law against it and almost every organisation,

has at one time or the other been a victim or

beneficiary. He outlined interventions to mitigate

the risk: adequate remuneration; job security; job

satisfaction; exit package; and respect and

recognition. The power of incentive cannot be

down-played. – it can bring out the best in every

individual staff when properly structured, he

stated. Caution in implementation should be

however be observed, so as not to be the only

basis for staff performance. At entry the target

should be clearly spelt for out the staff and not

necessarily the incentives he will receive, he said

03

Tour

Visits

5 7

38

TOUR VISITS

Benin Bronze World Heritage Site

Igun Bronze Casting Community

Delegates had the opportunity to visit

constituent historical places in the ancient city of

Benin. They were taken on a guided tour to Igun,

the famous location of bronze casting in Nigeria.

At the site of the bronze casting, it was a rare

privilege for participants to meet one of the

direct descendants of the ancient bronze casting

dynasty, who expressed delight at the visit. He

educated delegates on the history of bronze

casting in Benin City, as well as the theft of

several hundreds of artifacts by the Europeans

who invaded Benin City in the 19th Century.

The bronze caster also enlightened the delegates

on the process and procedures involved in

bronze casting. Delegates asked questions

bothering on the Guild, method of knowledge

transfer and source of raw materials.

Egedege N’okaro

First Storey Building

From the location of the Benin bronze world

heritage site to Egedege N’ okaro in Benin City,

where the first storey building in Benin Kingdom

was built. Delegates were shown round the

famous structure which is still standing for over

a century. The remaining part of the building still

standing used to house most of the ancient

shrines that made Benin what it is today.

The tour guide made the delegates to understand

that, in ancient times, especially during important

festivals, certain rituals were performed in those

shrines. Also, during periods of war, the warriors

were taken to specific shrines dedicated their

gods of war for fortification.

39

TOUR VISITS

Visit to Esogban’s Palace

Participants also had a chance to visit the palace

of the Esogban of Benin Kingdom, Chief

Egharevba David Edebiri. The revered Benin chief

is also regarded as the ‘Chief Oracle’ of the

kingdom due to his vast knowledge of the history

of the Benin Kingdom and a custodian of its

traditions. The first reception was at the inner

court of the palace, where delegates were

received by the glamourous cultural troupe.

Delegates had a glance at the palace artifacts and

educational materials that are available at the

palace. Afterwards, all delegates converge at

outer court for an address by the Chief.

Addressing the delegates at the outer court,

Chief Edebiri chronicled the history of the Benin

Kingdom from the political, religious and socio-

cultural perspective. Furthermore, a breakdown

of the administrative structure of the kingdom,

which places the supreme headship in the hands

of the Oba of Benin was given. He noted that the

Oba of Benin is the political and social Head of

the kingdom with no rival and that from time

immemorial, monarchy has been practiced in

Kingdom.

The foreign delegates wanted to know if there is

any relationship between Dahomey (now (Benin

Republic) and the Benin Kingdom. While

responding, Chief Edebiri explained that, there

have been researches to establish a relationship

exists between Benin Republic and the Benin

Kingdom. According to oral tradition, it was

believed that Dahomey was founded by one of the

war Generals from Benin Kingdom who migrated

to the place, settled, married and established his

presence in that territory.

Feeding question on whether it is true Lagos State,

South West Nigeria is owned by the Benin

Kingdom, the Esogban gave the narrative that long

ago, a Benin Chief called Orukah founded Lagos.

Seeing that the land was fertile, he built his war

camp there and named it Eko (meaning camp in

Benin language). While Eko become known as part

of the Benin kingdom and served as major trade

route for the kingdom, Orukah returned to Benin.

The British colonialist later renamed the place to

Lagos because of the lagoon. At the time, the

political powers and influence of the Oba Benin

has been reduced. This also affected his capacity

to administer his vast territories.

Notwithstanding, all the Obas who have ruled and

still ruling Lagos trace their origin to Benin

Kingdom.

40

TOUR VISITS

The chief also addressed questions on the

relationship between the Yorubas and BInis. The

narrative was that Benin Kingdom was formerly

ruled by the Ogiso Dynasty. But during the reign

of the 30th Ogiso name, Owodo, he was very

wicked and callous. Ogiso Owodo killed a

pregnant woman which is an abomination in

Benin. The people revolted against him, and

consequently was dethroned and banished from

the kingdom. He died childless because this same

man, out of jealousy and desire for power,

banished the only son named Ekaladerhan. He

ordered him to be killed, but those who were

sent to execute him pardoned him because he

was innocent and loved by the people.

They asked him to run as fast and far as he could.

The young prince ran through many bushes for

days and nights in present day Okada without

food, until he found his way into Ife. The people

there accepted him and gave him a place to sleep

and from then, he became part of the community.

One faithful day, a woman was about dying as a

result of prolonged labour, and Ekaladerhan being

a Benin prince also had spiritual powers amongst

others. He offered to assist the woman and with

his magical powers, the woman was delivered of

the child and her life was saved. The people could

not believe that a mare human could possess such

powers except God.

The entire community, later approached him to

be their king, and when he finally agreed, he was

crowned king. After many years, the Binis got to

know that he was still alive and already a king, they

sent emissaries on several occasions to persuade

him to come back and take over his rightful

throne. At this period in Benin history, some

other persons have tried to rule but were not

successful because they were not natural heirs to

the throne. It was in the midst of all these that

king Ekaladerhan now decided to send his son to

Benin to rule over the kingdom.

A notable son of Benin, Barrister Obayagbona

gave a vote of thanks followed by the traditional

presentation of kola nuts according to Benin

traditions.

04

Appendices

42

APPENDIX 1:

WORKSHOP PROGRAMME

Day One

Monday 29 October 2018 Time Event

8.00am-9.00am Registration opening

9.00am-9.05am Welcome Address, Godwin Ehigiamusoe PhD

9.05am-10.35am Keynote Address, Umaru Ibrahim

10.35am-10.40am Acknowledgement of Sponsors

10.40am-12.10pm Session 1: Institutional Form, Ownership and Governance. Kimanthi Mutua

12.10pm-12.40pm Tea Break

12.55pm-2.25pm Session 2: Governance at Management and Board Levels. Rene Azokly

2.25pm-3.25pm Lunch

3.25pm-4.55pm Session 3: Capital (Funding) Strategies for Microfinance Operations.

Kimanthi Mutua

4.55pm-5.35pm Plenary Session 1: Institutional Forms, Governance and Funding Strategies

Chair: Godwin Ehigiamusoe PhD

Panellists: Kimanthi Mutua

Rene Azokly

Pst. (Dr.) Olatunde Oladokun (JP)

Day Two Tuesday 30 October 2018 Time Event

9.00am-9.05am Recap of Day One Activities

9.05am-9.10am Acknowledgment of Sponsors

9.10am-10.40am Session 4: Credit Scoring in Digital Banking: How far can Microfinance

Institutions Go? Kamal Budhabhatti

10.40am-11.10am Tea Break

11.25am-12.55pm Session 5: Delivery Channel and FinTech Innovations. Cecilia Njoki Thuita

12.55pm-1.55pm Lunch

1.55pm-3.25pm Session 6: Fundamentals of Growth in a Competitive Microfinance Market.

Godwin Ehigiamusoe Ph.D

Day Three

Wednesday 31 October 2018

Time Event

9.00am-9.05am Recap of Day Two Activities

9.00am-9.05am Acknowledgment of Sponsors

9.05am-10.35am Plenary 2: MFI Skill-set and Human Resource Capacity

Chair: Godwin Ehigiamusoe PhD

Panellists: Kimanthi Mutua

Rene Azokly

Biodun Adedipe, Ph.D

10.35am-11.05am Tea Break

11.15am-12.45pm Session 7: Leadership and Succession Planning for CEOs and Management

into Corporate Culture. Biodun Adedipe, Ph.D

12.45pm-1.45pm Lunch

1.45pm-2.05pm Plenary Session 3: MFIs Leadership and Succession Planning Challenges

Chair: Rene Azokly

Panellists: Godwin Ehigiamusoe, Ph.D

Biodun Adedipe, Ph.D

Cecilia Njoki Thuita

Kimanthi Mutua

Closing ceremony

Presentation of certificate of participation

Closing remark, Kimanthi Mutua

43

APPENDIX 2

Structure of the Workshop

Workshop Organisers Mr. Kimathi Mutua, Kenya

Dr. Godwin Ehigiamusoe, Nigeria

Mr. Rene Azokly, Benin Republic

Speakers

Mrs. Cecilia Njoki Thuita, Kenya

Mr. Kamal Budhabhatti, Kenya

Dr. Biodun Adedipe, Nigeria

Pst. (Dr.) Olatunde Oladokun (JP), Nigeria

MC of the Workshop Mr. Daniel Iyamu

Financial Inclusion Coordinator,

LAPO Institute, Benin City, Nigeria

General Rapporteur Mr. Joseph Icheku

Ms. Karen Ikhifa-Aigbokhan

Mrs. Gloria Tijani

Drafting Committee Dr. Kenneth Okakwu

Director General

LAPO Institute, Benin City-Nigeria

Mr. Osamede Michael Edegbe

Workshop Programme Coordinator,

LAPO Institute, Benin City, Nigeria

Mr. Abel Ovenseri

Working Group

LAPO Institute, Benin City-Nigeria

Mr. New-world Oboh

Working Group

LAPO Institute, Benin City-Nigeria

Mr. Omoruyi Sunday

Working Group

LAPO Institute, Benin City-Nigeria

44

APPENDIX 3 FEEDBACK AND STATISTICS The workshop delegates were invited to take part in a survey. IMW would like to share the feedback

received.

General Feedback First-Time Attendees

Plenary Session = 98% satisfied; 2% dissatisfied

Keynote speaker = 98% satisfied; 2% dissatisfied

Workshop Content = 98% satisfied; 2% dissatisfied

Workshop format = 98% satisfied; 2% dissatisfied

Reception/breaks = 98% satisfied; 2% dissatisfied

Facility = 98% satisfied; 2% dissatisfied

Tour visits = 95% satisfied; 5% dissatisfied

Workshop expectations met Impression of workshop speakers

Workshop location

Yes; 63% first-time attendees

No; 37% Return attendees

Yes- absolutely; 100% 98% = Satisfied;

2% = Dissatisfied

92% Satisfied;

8% Dissatisfied

45

DELEGATES’ CORNER

Read excerpts of what the participants said about the second IMW 2018.

Generally, the workshop and

its topics are quite good; the

speakers are experienced

practitioners.

The simultaneous

translation and the overall

organisation of the

workshop is quite superb.

The workshop was

detailed and educative.

Thank you for the experience. The

programme is very timely and

contents quite great for the purpose.

I would also take forward the issue

of advocacy being a leader in the

industry.

I encourage invitation of more

international and local participants

(speakers and attendees) as this will

help enrich knowledge sharing and

networking. Also, to be considered is

need for group discussion of ideas. I

commend the organisers and look

forward to future workshops.

Microfinance case studies

should be included for

discussion and also action plan

for the MfI as a family should

be visited.

The resource persons are

actually some set of people

that understands their topic

and know how well to deliver

them. Nothing less is expected

next year.

The IMW was finely organised from

my point of view. The topics treated

were matching and a kind of eye

opener for the survival of

microfinance operation in the future.

Well done to team. I give a 4-star

rating out of 5.

I commend the LAPO Institute team for a successful organisation and

execution of the workshop. The workshop presented some eye-opening

experiences. It also presented opportunities for networking. Overall, I will

say it's worth it (the facilitators, participants and organizers). However, there

is room for improvement. I will suggest that in future editions, there should

be sessions for group discussions and if possible presentation. Likewise, I

look forward to seeing a wider range of participants from more countries

(facilitators and participants), this will lead to a vast pool of knowledge

sharing amongst others. I look forward to attending the next workshop and

other programmes of LAPO Institute as may be deemed necessary.

En terme de témoignage à la suite de la participation

à cet atelier:

Toutes les communications ont étayé dans

l'ensemble le thème principal de l'atelier. Ce qui a

fait que, notre perspective en tant que ONG dans le

financement agricole serait de travailler avec les

institutions de micro finance à développer des outils

innovants qui dématérialisent le contact entre ces

institutions et les clients. En d'autres termes, nous

envisageons de revoir nos prochains partenariats

avec les institutions de microfinance qui se

retrouvent dans notre portefeuille. Merci.

Frankly, I really enjoyed

the workshop which was

very rich in sharing

experiences. I will

propose for the next

edition the theme

"Financial Inclusion and

Digital Finance: Issues

and Perspectives"

This kind of workshop should be organised every year for all microfinance institutions operators

46

APPENDIX 5

THE WORKSHOP ORGANISER AND PARTNERS

Organiser & Host

LAPO Institute for Microfinance and Enterprise Development

International Partners

Local Partners

LAPO Institute

for Microfinance and Enterprise Development

For more information on the IMW and joining the network, please visit www.lapoinstitute.org or contact us directly: info@lapoinstitute.org

Plot 6, S & T Barracks Road, Uselu Benin City Nigeria

Tel: +234 (0) 8023 43 2929 | 8150 64 5427