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West Africa

West Africa

Jul 26, 2011

Ghana

Ghamfin Notes

From George

  • most MFIs v small in Ghana - range from a few K to a max of 96K clients

  • central bank just intro'd new regs that will increase reporting requirements on MFIs

  • integrated accting fairly important for a few reasons, but can be very very simple

    • need to produce reports across portfolio and financials for central bank - best if they can do that with a click

    • more complex accting software may be too complex for some MFIs

    • can be as simple as a GL plus a handful of core reports like a balance sheet and key ratios

  • Virtually all MFIs in Ghana have internet connectivity at minimum GPRS level via USB modems

  • combo of loans and savings across the institutions - some have only credit

  • MFIs in Ghana will now have regulator-mandated insurance offering / likely very simple

  • mostly Grameen / joint liability group savings with weekly repayments

  • govt implementing biometric ID - desire to use that to reduce multiple loans across MFIs (or at least check)

Nigeria

  • Accounting - interest in integrating with SQL-ledger for mid-sized institution in Nigeria.

Mali