The 661-member Ghana Association of Microfinance Companies (GAMC) recently announced the launch of its Microfinance Companies Capacity Improvement Project (MICCIP). MICCIP will focus primarily on improving GAMC’s training programmes as well as offering 40 of its members “who possess signs of high professionalism and sustainability” an 18-month technical assistance programme. The overall aim of the project is to improve the transparency and confidence in the microfinance industry of Ghana “leading to a more socially responsible and sustainable financial environment” as was noted by GAMC Chairman Collins Amponsah-Mensah. MICCIP is made possible by a grant of EUR 1.5 million (approximately USD 1.7 million) from the Agence Française de Développement (AFD), a division of the French government.
By Imke Herholdt, Research Associate
About Ghana Association of Microfinance Companies (GAMC)
Founded in 2011, the Ghana Association of Microfinance Companies (GAMC) is an association of approximately 661 members providing microloans and deposit microfinance services in Ghana. GAMC offers information distribution services, capacity building, supervisory and monitoring services, advocacy and lobbying, and resource sharing.
About Agence Française de Développement (AFD)
Established in 1941, Agence Française de Développement (AFD) is a bilateral development finance institution that seeks to implement the overseas development assistance policies of the French government. AFD finances projects in approximately 90 countries in four continents. As of December 31, 2014, AFD had total assets of EUR 30.633 billion (approximately USD 37.24 billion).
Sources and Additional Resources
[1] Business.Peacefm, “Microfinance Companies Launch Capacity Improvement Project”
[2] Ghana Web, “Microfinance Association Builds Capacity of Members”
[3] West Africa Wire, “GAMC launches microfinance improvement project”
[4] Myjoyonline, “Microfinance operators to ‘weed out’ fake operators”
[5] Agence Française de Dévelopment
[5] MicroCapital Universe Profile: Ghana Association of Microfinance Companies (GAMC)
[6] MicroCapital Universe Profile: Agence Française de Développement (AFD)
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