Peter Egwuatu
19 November 2008
In its bid to encourage savings and spur economic activity in Nigeria, Standard Chartered Bank has concluded arrangement to bring in experts that will enlighten the micro finance institutions on their role towards economic development.
Standard Chartered Bank Nigeria Limited, one of the leading international banks in Nigeria in conjunction with Accion International will be holding a training workshop and conference for microfinance banks in West Africa between November 20 & 21 2008 in Lagos, Nigeria.
The 2 day event tagged "Investment Readiness" is intended for Chief Executives, General Managers and Directors of Finance of microfinance institutions that are beginning to attract commercial capital and will touch on key aspects of investment in MFIs in developing countries from the perspective of the Company's Management and Board rather than from the view of the investor.
This interactive workshop will bring together experts from Standard Chartered Bank Group, Accion International and the Nigerian Regulators, with MFI senior management and board members to discuss strategies for attracting commercial capital and outside investors.
All discussions and workshop sessions will be facilitated by a highly-experienced instructor. The workshop is structured for MFIs looking to access international debt capital and ultimately broaden their capital base.
According to Bola Oduyale, the bank's Head of Financial Institutions, "Standard Chartered Bank is committed to the development of the Microfinance sector globally and Nigeria in particular.
This commitment was further reiterated during the 2006 Clinton global initiative where the Group Chairman, Mr. Mervin Davies announced the establishment of a US$500mio Microfinance Facility over a 5 year period to provide MFIs, Development Organizations and Fund Managers credit and financial instruments as well as technical assistance."
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