by the MicroCapital Team -

SPECIAL REPORT: European Microfinance Week Going Virtual November 18-20, 2020

Save European Microfinance Platformthe date for this year’s European Microfinance Week, which will occur online from November 18 to November 20, 2020! The agenda will include all of the hallmarks of this annual event, including Action Group meetings, incisive plenaries, and the presentation of the 2020 European Microfinance Award for “Encouraging Effective & Inclusive Savings.” More details will be released soon

This notice is part of a sponsored series on European Microfinance Week. This event is held annually by the European Microfinance Platform (e-MFP), a Luxembourg-based network with approximately 130 members. MicroCapital has been engaged to cover the event on-site each year since 2012.

Sources and Additional Resources

European Microfinance Platform (e-MFP) Action Groups
http://www.e-mfp.eu/action-groups

European Microfinance Award
http://www.e-mfp.eu/award

MicroCapital coverage since 2012 of European Microfinance Week, including each European Microfinance Award
https://www.microcapital.org/category/european-microfinance-week/

by the MicroCapital Team -

SPECIAL REPORT: Deadline Extended – Apply by May 5 for $110k European Microfinance Award for Innovation in Savings

The European Microfinance Platformthe deadline to apply for the European Microfinance Award 2020, themed “Encouraging Effective & Inclusive Savings,” has been extended until May 5. The Round 1 application requires a short outline of the applicant’s programme. The top prize is EUR 100,000 (USD 110,000).

This notice is part of a sponsored series on European Microfinance Week, the next iteration of which will run from November 18 through November 20, 2020. This event is held annually by e-MFP, a Luxembourg-based network with approximately 130 members. MicroCapital has been engaged to cover the event on-site each year since 2012.

Sources and Additional Resources

European Microfinance Platform (e-MFP) information on European Microfinance Week 2020
http://www.e-mfp.eu/european-microfinance-week-2020

MicroCapital coverage since 2012 of European Microfinance Week, including each European Microfinance Award
https://www.microcapital.org/category/european-microfinance-week/

by the MicroCapital Team -

SPECIAL REPORT: $110k European Microfinance Award 2020 Accepting Applications Through April 15 for “Encouraging Effective & Inclusive Savings”

From European Microfinance Platformthe European Microfinance Platform (e-MFP): The European Microfinance Award 2020 “Encouraging Effective & Inclusive Savings” is now open to organisations and programmes active in the financial inclusion sector that are innovating in the encouragement and delivery of savings to low-income and excluded populations.

This year, the Award aims to highlight the crucial role that savings can play for low-income and excluded populations, and how financial providers can encourage their effective and widespread use. To learn more about the Award, eligibility criteria, the selection process and the benefits of taking part, please consult the

by the MicroCapital Team -

SPECIAL REPORT: Christoph Pausch on the $110k European Microfinance Award 2020: Encouraging Effective & Inclusive Savings – Application Period Opens March 9

MicroCapital: European Microfinance PlatformWhy was “Encouraging Effective & Inclusive Savings” chosen as the topic of the European Microfinance Award 2020?

Christoph Pausch: For much of the past 40 years, the microfinance sector has focused overwhelmingly on credit. Credit is easier to offer and more profitable for the provider. More often than not, this results in credit being provided as the default even when other financial products – such as savings – are better suited to the needs of the client. Moreover, these other options come at both lower cost and lower

by the MicroCapital Team -

SPECIAL REPORT: European Microfinance Week to Run November 18 – 20, 2020; Including $110k European Microfinance Award for Innovation in Savings; Applications to Open in March

The European Microfinance PlatformEuropean Microfinance Platform (e-MFP) will hold the next European Microfinance Week from November 18 through November 20, 2020, in Luxembourg. The first day of the event will include training opportunities as well as meetings of

by the MicroCapital Team -

SPECIAL REPORT: e-MFP Investors Action Group Wrestles with Measuring Microfinance Client Outcomes in Alignment with UN’s SDGs

Members European Microfinance Platformof the European Microfinance Platform (e-MFP) Investors Action Group met at last week’s European Microfinance Week to review their progress on developing methods for reporting client outcomes in terms of meeting the UN Sustainable Development Goals (SDGs).

Cécile Lapenu from Cerise explained that the action group is working to: (1) identify investors’ expectations regarding reporting on outcomes; (2) review existing impact reports and websites to identify the metrics now in use; (3) conduct field tests of selected indicators; and (4) document the results to serve as guidance for moving forward.

The group is now soliciting data from investors on their current data collection practices. This includes if and how they collect data from: (1) the financial services providers (FSPs) they invest in; and (2) directly from those FSPs’ clients.

Ms Lapenu argued that factors such as client satisfaction do not

by the MicroCapital Team -

SPECIAL REPORT: SheInvest to Deliver $1.1b to Women in Africa, Access Bank’s “Beta Friends” Bringing Digital Savings to Market Sellers, Women Move Slowly to Mobile Money: All at European Microfinance Week

AtEuropean Microfinance Platform Friday’s session on gender and financial inclusion during European Microfinance Week, Enrico Pini of the European Investment Bank (EIB) argued that, “It’s smart business,” to boost opportunities for women. Such is the motivation for EIB’s SheInvest program, which is scheduled to mobilize EUR 1 billion (USD 1.1 billion) to invest in entrepreneurship, financial inclusion, digital inclusion and climate-resilience efforts for African women.

Njideka Nwabueze of Nigeria’s Access Bank described her company’s product, “Beta,” which translates as “Good” in the local language. She said that many poor women use informal savings schemes because they do not believe that banks offer products that meet their needs. One of these women’s priorities is easy access to funds. Women who sell products in a market, for example, risk losing a good selling spot if they leave during the day to visit a bank. Also, bank lines can be very long.

This is why, six years ago, Access launched Beta, an interest-bearing savings account that leverages mobile money but is

by the MicroCapital Team -

SPECIAL REPORT: Are MFIs Making Child Labor Worse? Willing to Test a Risk-assessment Prototype? How Can Schools Boost Child Protection? Why Buy Disposable Sanitary Pads When You Can Sew Reusable Ones?

DuringEuropean Microfinance Platform Thursday’s “Risky Business” session at European Microfinance Week, Patricia Richter of the UN’s International Labour Organization (ILO) led the audience through a poll of audience members’ personal work histories and how they think microfinance institutions (MFIs) can help reduce child labor. The audience voted that MFIs should do more to “raise awareness among clients and households” about the issue. The ILO’s Minimum Age Convention of 1973, which has been ratified by 172 countries, specifies the youngest acceptable ages for various types of work, ranging from 12 years old for fewer hours of light work in developing countries to 18 years old for hazardous work in any country.

The motivations for adults to engage children in age-inappropriate work include: (1) the family’s need for more income; (2) social norms that encourage child labor or the passing down of skills from parents to young children; (3) insufficient educational opportunities; (4) market demand for

by the MicroCapital Team -

SPECIAL REPORT: “Trend Toward Rigor,” Microfinance Barometer, Financial Inclusion Compass Offer Views of the Past, Future at European Microfinance Week

At European Microfinance Platformthis week’s session titled “Looking Back / Looking Ahead” at European Microfinance Week, the European Microfinance Platform (e-MFP) officially launched the second Financial Inclusion Compass, a survey indicating the top trends in financial inclusion are: (1) digital transformation (institutional-side); (2) client protection; (3) digital innovation (client-side); (4) regulatory environments; and (5) social performance / impact measurement. Meanwhile, the document identifies the following as top “areas of focus:” (1) agri-finance; (2) climate change; (3) finance for small and medium-sized enterprises (SMEs); (4) finance for displaced populations; and (5) finance for youth.

Sam Mendelson of e-MFP notes that financial services providers (FSPs) responding to the Compass are more interested in

by the MicroCapital Team -

SPECIAL REPORT: APA Insurance of Kenya Wins $110k European Microfinance Award for Index-based Livestock, Crop Products

From the European Microfinance Platform:
APA Insurance Ltd receives the 10th European Microfinance Award in recognition of its response to “Strengthening Resilience to Climate Change”

Photo © European Microfinance Award StudioEuropean Microfinance Award winner 2019

At a ceremony held at the European Investment Bank in Luxembourg, Paulette Lenert, Luxembourg Minister for Cooperation and Humanitarian Affairs, presented the 10th European Microfinance Award to APA Insurance Ltd of Kenya.

Since 2006, Luxembourg Directorate for Development Cooperation and Humanitarian Affairs, the European Microfinance Platform and the Inclusive Finance Network Luxembourg have been awarding a EUR 100,000 (USD 110,000) prize to the winner and, starting two years ago, EUR 10,000 (USD 11,000) to the two finalists.

This year’s winner, APA Insurance Ltd, is a Kenyan insurance company that provides

by the MicroCapital Team -

SPECIAL REPORT: Sibling Rivalry, Pre-disaster Microinsurance Payments, Protecting Climate-displaced People via International Law at European Microfinance Week

At European Microfinance Platformtoday’s opening plenary of European Microfinance Week, Manuel Tonnar, who leads Luxembourg’s Directorate for Development Cooperation and Humanitarian Affairs, said that his country “is committed to transforming itself and helping others transform their economies into sustainable economies.” This is “not for charitable reasons,” he argued, “but because it’s the most efficient way” to move forward. Mr Tonnar also said, “Financial inclusion should be closely allied with other development interventions to provide the most value to disadvantaged populations.” In closing, he quoted Jean Monnet, who said, “I am not optimistic. I am not pessimistic. I am

by the MicroCapital Team -

SPECIAL REPORT: MFR Launching Atlas Platform to Unify Data on Financial Performance, Social Performance, Pricing, Client Protection: a Preview at European Microfinance Week

Today, on European Microfinance Platformthe opening day of European Microfinance Week in Luxembourg, Lucia Spaggiari and Aldo Moauro of MicroFinanza Rating (MFR) described Atlas, a platform for collecting and analyzing data on microfinance. Atlas offers data on financial performance, social performance, pricing and client protection. The data sources include a range of data types from MFR, as well as pricing data from the now-closed NGO MicroFinance Transparency. These cover about 550 financial services providers (FSPs), including microbanks, financial technology (fintech) lenders, and

by the MicroCapital Team -

SPECIAL REPORT: Climate-change Resilience Takes Centre Stage at European Microfinance Week 2019

AsEuropean Microfinance Platform a proud co-organiser of the EUR 100,000 European Microfinance Award (EMA), e-MFP leverages European Microfinance Week to spot-light the theme of the Award each year. With EMA 2019 focused on Strengthening Resilience to Climate Change, the many ways that financial inclusion stakeholders are helping vulnerable populations adapt to climate change are at the forefront of the European Micro­finance Week programme. If your work involves addressing climate change through financial inclusion, #EMW2019 is not to be missed!

The opening plenary, titled Strengthening Resilience to Climate Change, features the three finalists for EMA 2019:

by the MicroCapital Team -

MICROFINANCE EVENT: European Microfinance Week; November 20-22, 2019; Luxembourg

ThisEuropean Microfinance Platform event opens with a day of meetings on various topics, including the Human Capacity Development Action Group and the Green Inclusive & Climate Smart Finance Action Group. The following two days include sessions such as “Strengthening Resilience to Climate Change Through Financial Inclusion,” “Protecting the Working Poor in the 21st Century Through Responsible Finance” and “Responsible

by the MicroCapital Team -

SPECIAL REPORT: Laura Hemrika of Credit Suisse on European Microfinance Week 2019, Connecting the Inclusive Finance World

MicroCapitalEuropean Microfinance Platform: How is European Microfinance Week (EMW) different from other financial inclusion conferences?

Laura Hemrika (pictured): It’s unique in several ways! First, the European Microfinance Platform (e-MFP) is a member-led platform; our over 130 individual and organization members represent all types of stake­holders. They’re active at the highest levels of the sector, and we work closely with them on all aspects of our work, especially for EMW. We put together the programme with their input, and they are strongly represented as speakers, moderators and Action Group partici­pants. Laura Hemrika on European Microfinance Week 2019Second, EMW is particularly interactive. We don’t see value in serial presentations of projects or products; all work­shops and plenaries are designed to be provocative, interactive, and to stimulate debate and discussion. Third, the confer­ence is the culmination of the annual Euro­pean Micro­finance Award; and each year there is a stream of sessions on the Award theme, which for 2019 is Strengthening Resilience to Climate Change. Fourth, EMW has an especially diverse attendee group, in terms of organisation types and home countries. It’s a truly remarkable breadth of stakeholders. Finally, we take great efforts to

by the MicroCapital Team -

SPECIAL REPORT: APA of Kenya, ASKI of the Philippines, FDL of Nicaragua Named Finalists for European Microfinance Award 2019: Strengthening Resilience to Climate Change

From European Microfinance Award 2019the European Microfinance Platform (e-MFP): On the 19th of September, the Selection Committee for the European Microfinance Award 2019, “Strengthening Resilience to Climate Change,” chose the three finalists who will go on to compete for the EUR 100,000 (USD 110,000) prize: APA, ASKI and FDL. Through the initiatives these outstanding organisations have put in place to increase vulnerable populations’ resilience to climate change, they demonstrate the innovation and dynamism of this most critical area of financial inclusion.

This year’s Award couldn’t be timelier. Extreme events – including drought, flooding, storms, fluctuating temperatures, and other climatic changes – are occurring with greater frequency and intensity, increasing risks to health, livelihoods, food security, water supply, economic growth and human rights. It is the poor in developing countries who feel the brunt of these climatic changes and

by the MicroCapital Team -

SPECIAL REPORT: Practitioners, Researchers Among Those Sought to Participate in 2019 “Financial Inclusion Compass” Survey of Microfinance Trends

TheEuropean Microfinance Platform European Microfinance Platform (e-MFP), an NGO in Luxembourg with over 130 members, recently began accepting responses to the survey from which it will build second annual Financial Inclusion Compass. The 2018 edition of the Compass identified the following as the most important trends: Client Protection; Regulatory Environment; Governance; Outreach to Low-Income Segments; and Technology & New Delivery Channels. In the New Areas of Focus section