Centre d’Appui a la Microfinance et au Developpement (CAMIDE), a Malian nonprofit organisation that supports microfinance and other development initiatives, recently partnered with Appui au Développement Autonome (ADA), a Luxembourg-based nonprofit organisation that supports MFI capacity building, and Banque d’Escompte (BdE), an entity of the Wormser Frères Bank in France, to launch a new service offering money transfers from France to Mali. Users of the product can transfer money from BdE branches in France to the 90 remote villages in the Kayes area of Mali that are served by CAMIDE. In response to observations that remittances were often spent by recipients on consumer products, the project provides access to a range of savings, loans products and non-financial services.While financial data on CAMIDE is not available, one of its departments is the Programme d’Appui à la mise en place d’un Système d’Epargne et de Crédit Autogéré -Kayes, which reports assets of USD 5.5 million to the US-based nonprofit microfinance information exchange as of 2011.
The effort is patterned after a partnership between ADA and Programme d’Appui aux Mutuelles d’Épargne et de Crédit au Sénégal (Pamecas) in Senegal that was founded in 2009 to encourage savings among migrants from Senegal to Italy. For example, a “Home Savings-Home Loan” product, offers long-term savers access to a home loan for the renovation or the purchase of property.
By Chioma Okwudiafor, Research Associate
About Centre d’Appui a la Microfinance et au Developpement (CAMIDE)
Centre d’Appui a la Microfinance et au Developpement (CAMIDE) is a Malian NGO founded in 1998. CAMIDE is a microfinance network present in 90 villages in the region of Kayes. Among the initiatives it leads are self-managed village banks, savings mobilization and microfinance migrant solidarity. CAMIDE also offers credit, money transfer and savings services.While financial data on CAMIDE is not available, one of its departments is the Programme d’Appui à la mise en place d’un Système d’Epargne et de Crédit Autogéré – Kayes, which reports assets of USD 5.5 million to the US-based nonprofit microfinance information exchange as of 2011.
About Appui au Développement Autonome (ADA)
Founded in 1994, Appui au Développement Autonome (ADA) is a nonprofit organization based in Luxembourg. ADA’s activities include developing new financial products, assisting in the capacity building of microfinance institutions (MFIs) and improving information on and awareness of microfinance activities. As of December 31, 2009, ADA reported total assets of EUR 3.7 million (USD 5.4 million). Newer financial data on ADA is not available as of 2012. ADA works with 25 microfinance institutions in Africa, Asia and South America.
About Banque d’Escompte (BdE)
Banque d’Escompte (BdE), is a member of Wormser Freres Group, a private family bank founded in 1936 in Paris. Banque d’Escompte offers services that include financial engineering, money management and asset management. BdE also offers money transfer services from migrants resident in France to their countries of origin. Financial data on the organization is unavailable.
Sources and Additional Resources:
ADA News: “From remittances to savings: a solution designed for migrants”
MicroCapital Story: October 22, 2012, MICROCAPITAL BRIEF: Luxembourg Directorate for Development and Cooperation, European Investment Bank, Appui au Développement Autonome Unveil $5.2m Microfinance Project, MicroMED Tunisia http://www.microcapital.org/microcapital-brief-luxembourg-directorate-for-development-and-cooperation-european-investment-bank-appui-au-developpement-autonome-unveil-5-2m-microfinance-project-micromed-tunisia/
MicroCapital Story: October 22, 2012, MICROCAPITAL BRIEF: Appui au Developpement Autonome, BSB, Confederation des Institutions Financieres Partner on Microinsurance in West Africa
MicroCapital Universe Profile: Appui au Développement Autonome (ADA)
MicroCapital Universe Profile: Centre d’Appui a La Microfinance Et Au Developpement (CAMIDE) http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=CAMIDE
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