MICROFINANCE PUBLICATION ROUND-UP: Banking on Change Partnership for Financial Inclusion in Africa; Findings on Financial Inclusion in Nigeria; Snapshot of Microfinance in Latin America and the Caribbean

“Banking on Change: Breaking the Barriers to Financial Inclusion;” published by Plan UK, Barclays and Care International UK; January 2013; 28 pages; available at: http://www.careinternational.org.uk/research-centre/microfinance/251-banking-on-change-breaking-barriers-to-financial-inclusion

This report examines the “Banking on Change” partnership among British NGOs Plan UK and Care International and Barclays, a UK-based bank. The three organizations launched a project in Africa that encourages poor people to save through formal financial institutions. Based on a three-year study of the effort, the authors give five recommendations to improve financial inclusion: (1) Ensure that financial inclusion becomes a United Nations Millennium Development Goal; (2) identify group banking as an important tool for increasing financial inclusion among poor communities; (3) link formal and informal financial institutions and encourage banks to invest in services for poor people; (4) increase financial literacy through schools; and (5) develop checks and balances that protect poor people and their money.

“EFInA Access to Financial Services in Nigeria 2012 Survey: Key Findings;” published by Enhancing Financial Innovation and Access; November 2012; 72 pages; available at: http://www.efina.org.ng/assets/Documents/Updated-Documents/Key-Findings-2012.pdf

This document summarizes the findings of a study performed by Enhancing Financial Innovation and Access, a Nigeria-based development organization funded by the Bill and Melinda Gates Foundation and the UK Department for International Development (DFID). The study found that 60 percent of Nigerian adults are financially included, with 43 percent of those being included through formal financial institutions. Overall, 43 percent of females were financially excluded compared with 36 percent of men. The study also finds that Nigeria is behind South Africa, Namibia and Botswana in terms of the percentage of financially included citizens. Additionally, the authors examine different aspects of financial inclusion such as banking, microfinance, insurance, mobile money and aregional differences within the country.

“2012 Latin America and the Caribbean Regional Snapshot;” by Maria Cecilia Rondon and Arturo Valencia Verano; published by the Microfinance Information Exchange (MIX); December 2012; 20 pages; available at: http://www.themix.org/publications/mix-microfinance-world/2012/12/2012-latin-america-caribbean-regional-snapshot

This publication summarizes changes in microfinance in Latin America and the Caribbean during 2011. According to the report, South America led the region in both growth of borrowers, which saw a 14.6 percent increase, and portfolio growth, which increased 24.3 percent increase from the previous year. Central America and the Caribbean both continued to see growth in number of borrowers and loan portfolio as well. The document also examines growth in other indicators including deposits, depositors and housing loans. The authors then summarize profitability, credit risk and funding in the region overall as well as in specific countries.

By Charlotte Newman, Research Associate

About Care International
CARE (Cooperative for Assistance and Relief Everywhere) International is a Switzerland-based non-governmental organization with global poverty reduction programs aimed at developing women’s economic capabilities. Founded in 1945 with the aim of sending supplies to post-war Europe from America, it has evolved into a multipurpose humanitarian organization. In 2011, CARE reportedly supported 1,051 projects in 84 countries that reached 122 million people. In 2010 it reported total assets of EUR 592 million (USD 782 million).

About Enhancing Financial Innovation and Access (EFInA):
Established in 2007, Enhancing Financial Innovation and Access (EFInA) is a nonprofit financial sector development organization funded by the UK government’s Department for International Development (DFID) and the US-based Bill & Melinda Gates Foundation. It seeks to promote financial inclusion in Nigeria through research, innovation and advocacy. Financial information on the organization is not available via the US-based Microfinance Information Exchange or otherwise.

About the Microfinance Information Exchange (MIX)
The Microfinance Information Exchange (MIX) is a US-based nonprofit provider of performance data and analysis on microfinance institutions (MFIs), funders, networks and service providers dedicated to serving the financial needs of low-income clients. The mission of MIX is to strengthen the microfinance sector and financial inclusion in general by promoting transparency. The organization’s MIX Market website offers access to financial and social performance information covering approximately 2,000 MFIs. MIX publications include the MicroBanking Bulletin and MIX Microfinance World, which feature periodic research and data analysis. Incorporated in 2002, MIX is headquartered in Washington, DC, with regional offices in Azerbaijan, India, Morocco and Peru. Its supporters include the Bill & Melinda Gates Foundation, CGAP (Consultative Group to Assist the Poor), Omidyar Network, The MasterCard Foundation, the UN’s International Fund for Agricultural Development, the Michael & Susan Dell Foundation, Citi Foundation, Ford Foundation and Deutsche Bank.

Sources and Additional Resources:

Banking on Change: Breaking the Barriers to Financial Inclusion,” http://www.careinternational.org.uk/research-centre/microfinance/251-banking-on-change-breaking-barriers-to-financial-inclusion

“EFInA Access to Financial Services in Nigeria 2012 Survey: Key Findings,” http://www.efina.org.ng/assets/Documents/Updated-Documents/Key-Findings-2012.pdf

“2012 Latin America and the Caribbean Regional Snapshot,” http://www.themix.org/publications/mix-microfinance-world/2012/12/2012-latin-america-caribbean-regional-snapshot

MicroCapital.org story, March 22, 2012, “MICROCAPITAL BRIEF: Mobile Money Service Paga Receives $2m Grant from Enhancing Financial Innovation and Access (EFInA) to Promote Financial Inclusion in Nigeria,” https://www.microcapital.org/microcapital-brief-mobile-money-service-paga-receives-2m-grant-from-enhancing-financial-innovation-and-access-efina-to-promote-financial-inclusion-in-nigeria/

MicroCapital.org story, January 13, 2012, “MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Releases 2010 Latin America & the Caribbean Regional Snapshot,” https://www.microcapital.org/microcapital-brief-microfinance-information-exchange-mix-releases-2010-latin-america-the-caribbean-regional-snapshot/

MicroCapital Universe Profile: Care International
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=CARE+International

MicroCapital Universe Profile: Enhancing Financial Innovation and Access (EFInA)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Enhancing+Financial+Innovation+and+Access+%28EFInA%29

MicroCapital Universe Profile: Bill and Melinda Gates Foundation
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Bill+and+Melinda+Gates+Foundation

MicroCapital Universe Profile: Microfinance Information Exchange (MIX)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Microfinance+Information+Exchange+%28MIX%29

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