MICROCAPITAL BRIEF: Network of Microfinance in Liberia (NEMIL) to Focus on Capacity Building

Rev. Steve Gaye, who recently was elected chairman of the Network of Microfinance in Liberia (NEMIL), has announced that he will focus the organization’s efforts on capacity building. Rev. Gaye was quoted as saying, “Microfinance needs investment, requires technical skills and the education of all of its members by means of attending workshops on time and being briefed by experts. That will be the new position of the network” [1]. He went on to say, “We will also focus on developing cordial relationships between the network and government agencies, seeking national and international assistance that will build the network and ensuring that we provide the necessary services needed by the people” [1].

Data on NEMIL is not available. The US-based nonprofit Microfinance Information Exchange lists four microfinance institutions in the country with total outstanding loans of USD 19 million, total deposits of USD 18.5 million and 208,000 customers.

By Jeff Pierce, Research Associate

Sources and Additional Resources:

[1] All Africa News: “Liberia: Microfinance Chairman Promises More Capacity Building,” Worzi, Alvin, http://allafrica.com/stories/201504132338.html

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