Ghana Microfinance Institutions
Network (Ghamfin)
The network addresses constraints faced by its members
in the promotion and financing of low income and micro entrepreneurs.
The Network also facilitates processes that address constraints faced
by its members such as lack of access to on-lending funds, poor Management
Information Systems (MIS), codes of conduct, poor MFI staff skills etc.
Ghana Microfinance Institutions
Network (Ghamfin)
The network addresses constraints faced by its members in the promotion and financing of low income and micro entrepreneurs.
The Network also facilitates processes that address constraints faced by its members such as lack of access to on-lending funds, poor Management Information Systems (MIS), codes of conduct, poor MFI staff skills etc.
GHAMFIN is a network of Microfinance Associations whose members are engaged in the provision of microfinance services.
GHAMFIN evolved from an initiative of some MFIs operating in Ghana and was promoted by the World Bank sponsored Action Research Programme which started in Ghana in 1995.
The programme sought to identify, for wider application, innovative techniques of financial services delivery that had been successful in improving access of micro entrepreneurs to financial services.
Legally registered in August 1998 as a company limited by guarantee.
The umbrella organization for many players in the microfinance sector is the Ghana Microfinance Institutions Network (Ghamfin)
The founding members of the Network are;
- Action Aid Ghana
- Nsoatreman Rural Bank Ltd.
- Freedom from Hunger Ghana
- CARE International Ghana
- Techno serve Ghana
- The Association of Rural Banks
- Women’s World Banking International
- Credit Union Association
Ghamfin Roles
The Association has played a leading role in supporting and facilitating processes that address constraints faced by its members such as lack of access to on-lending funds, poor Management Information Systems (MIS), codes of conduct, poor MFI staff skills and conflict resolution among others.
GHAMFIN has been instrumental in;
- Advocating for the passage of the Credit Union Bill
- Establishment of Microfinance Conference in collaboration with University of Cape Coast.
- Development of industry Code of Conduct based on Client Protection Principles and
- Worked closely with the OFISD of the BoG to review selected areas of the operating guidelines for MFIs.
GHAMFIN’s roles include:
- Capacity building of members to effectively provide services in the market
- Ensuring members’ understanding of and adherence to consumer practice principles
- Promotion of standards in financial and social reporting among members
- Provision of monitoring and benchmarking studies; and
- Advocacy for the industry.
OPERATING PRINCIPLES
The Core Values of the Network are detailed followings
CORE VALUES & VALUE STATEMENTS
As a membership organization GHAMFIN is driven by a determination to equitably serve its members in a sincere, transparent and accountable manner, and with integrity
GHAMFIN will explore its vast potential to make extensive and far-reaching impart in the microfinance industry by bringing together all its members; like the proverbial broom, it acknowledges that together we are stronger, but alone we can be broken
GHAMFIN will be the professional and reliable Network for Members a it represents them to advice towards their rightful place in the microfinance industry
GHAMFIN is focused on being a strong advocacy Network that is relevant to its members
GHAMFIN is determined to cooperate and collaborate with its Members, regulators, the mass media, Donors/Partners, and all stakeholders to develop a progressive best practice microfinance industry
Structure of the Industry
