Silatech, a Qatar-based social enterprise that aims to increase employment and entrepreneurship among youth in the Middle East and North Africa, recently delivered a three-day Financial Literacy Training of Trainers course to 20 instructors from the Sudan Academy for Banking and Financial Sciences (SABFS), a Sudanese technical university. These instructors will now offer a four-month microfinance development program to approximately 1,000 credit officers in Sudan.
The course materials were developed by Microfinance Opportunities, a US-based microenterprise resource center, and Freedom from Hunger, a US-based nonprofit that works in 12 countries to alleviate hunger and poverty. The course includes financial principles including budgeting, saving and debt management.
Silatech reports operations in 12 countries in the Middle East and North Africa. As of 2012, Silatech has raised approximately USD 35 million in co-funding for its microenterprise programs.
By Charlotte Newman, Research Associate
About Silatech
Founded in 2008, Silatech is a Qatar-based social enterprise aiming to increase employment and entrepreneurship among youth in the Middle East and North Africa. Silatech operates in Egypt, Morocco, Palestine, Syria, Tunisia and Yemen. As of 2012, Silatech has raised approximately USD 35 million in co-funding for its microenterprise programs.
About Microfinance Opportunities
Microfinance Opportunities (MFO) is a US-based microenterprise resource center. Established in 2002 as a nonprofit organization, MFO’s goal is to increase access to financial services in developing countries. It focuses on financial education, microinsurance and client assessment. For the financial year 2010, MFO reported total assets of USD 2 million.
About Freedom from Hunger
Freedom from Hunger is based in the US city of Davis, California. Formerly called “Meals for Millions,” it is an NGO that operates in 19 countries with the aim of alleviating hunger and poverty. Its microfinance programs service approximately 2 million families through 26 partner microfinance institutions. At the end of 2011, Freedom from Hunger was working with a total of 150 partners reaching approximately 3.9 million women plus their families.
Sources and Additional Resources:
Silatech Press Release: “Silatech Extends Microfinance Training in Sudan,” http://www.silatech.com/home/news-events/silatech-news/silatech-news-details/2012/12/13/silatech-extends-microfinance-training-in-sudan
MicroCapital.org story, December 7, 2012, “MICROCAPITAL BRIEF: President Al Bashir, Central Bank of Sudan (CBOS) Plan 500 New Microfinance Service Centers to Employ 1,000 Graduates,” https://www.microcapital.org/microcapital-brief-president-al-bashir-central-bank-of-sudan-cbos-plan-500-new-microfinance-services-centers-to-employ-1000-graduates/
MicroCapital.org story, October 23, 2012, “MICROCAPITAL BRIEF: Silatech of Qatar, Kiva of USA Launch Kiva Arab Youth Website to Raise Funds for Microlending,” https://www.microcapital.org/microcapital-brief-silatech-deutsche-gesellschaft-fur-internationale-zusammenarbeit-giz-partner-with-al-amal-microfinance-bank-alkuraimi-islamic-microfinance-bank-to-provide-microsavings-for-yout/ https://www.microcapital.org/microcapital-brief-silatech-of-qatar-kiva-of-usa-launch-kiva-arab-youth-website-to-raise-funds-for-microlending/
MicroCapital.org story, July 17, 2012, “MICROCAPITAL BRIEF: Silatech, Deutsche Gesellschaft fur Internationale Zusammenarbeit (GIZ) Partner with Al-Amal Microfinance Bank, Alkuraimi Islamic Microfinance Bank to Provide Microsavings for Youth in Yemen,” https://www.microcapital.org/microcapital-brief-silatech-deutsche-gesellschaft-fur-internationale-zusammenarbeit-giz-partner-with-al-amal-microfinance-bank-alkuraimi-islamic-microfinance-bank-to-provide-microsavings-for-yout/
MicroCapital Universe Profile: Silatech
http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Silatech
MicroCapital Universe Profile: Microfinance Opportunities
http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Microfinance+Opportunities+%28MO%29
MicroCapital Universe Profile: Freedom from Hunger
http://microcapital.org/microfinanceuniverse/tiki-index.php?page=freedom+from+hunger
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/
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