Management Certification Program

Over View

MCT

The Bank of Ghana in ensuring the implementation of sections 56 and 92 (1) of the Banks and Specialized Deposit- Taking Institutions Act, 2016 (Act 930) issued directives on Corporate Governance for the effective management of Regulated Financial Institutions (RFI). As part of the corporate governance directives 2018 (for Banks, Savings and Loans Companies, Finance House Companies and Financial Holding Companies) and also in the Business Rules and Sanctions (for Microfinance Institutions), it is required for Directors and Key Management staff of RFIs to obtain Certification from accredited institutions.

In this context, the Ghana  Microfinance Institutions Network  (GHAMFIN),   the  Credit Unions  Association (CUA) and the German Sparkassenstiftung Ghana  have developed and successfully piloted a certification training program for board members and managers of Credit Unions and Microfinance Institutions.

This training program is customized and practically oriented. The training includes different active teaching and learning methods such as trainer input, group discussions, analysis of scenarios, peer learning, peer counselling and others.

The program is implemented under the cooperation project titled:  “Strengthening  Co-operative  Credit  Unions  and other Microfinance  Institutions (MFIs) in providing financial services in Ghana”.

The aim is to build capacity of Credit Unions and microfinance institutions through demand-driven, affordable and attractive training courses for board members and managers of such institutions. The project is funded by the Federal Ministry for Economic Cooperation and Development of Germany (BMZ).

Target:

General managers and CEOs of Microfinance Institutions and Credit Unions
Structure Modular program consisting of 6 compulsory modules and a Practical Week during which the participants do peer counselling in hosting institutions of their subsector.
Modules

Mandatory Modules:

  • Introductory module (2 days)
  • Regulatory Framework (2 days)
  • Board & Governance (2 days)
  • Financial Management (2 days)
  • Risk Management (2 days)

Elective Modules:

  • Strategic Management 2 days)
  • Credit Management (2 days)
  • Savings Management (2 days)
  • Marketing & Customer care (1 day)
  • HR Management (1 day)
Duration Five and a half months
Facilitators Experienced practitioners and trainers from the industry
Assessment Written exam + report and oral group presentation on Practical Week
Benefits
  • Preparation for manager certification according to BoG requirements
  • Up-to-date information on the relevant regulatory framework
  • Experience-share on best practices in the sector
  • Opportunity of peer counselling and professional networking

THE PARTNERS

GHAMFIN

GHAMFIN is the network of Non-Bank Financial Institutions’. Membership is made up of the following: Savings and Loans Companies, Rural & Community Banks, Credit Unions, Microfinance Companies, Micro Credit Institutions, Financial NGOs, Susu Enterprises.

It is worth to be noted that GHAMFIN has embraced the Certification agenda to bring more sanity and discipline in the industry.

Credit Unions Association (CUA)

CUA Ltd.  supervises all Credit Unions in the country on behalf of the Bank of Ghana.

The aim of Credit Unions is remain self-sustainable, facilitate an enabling environment and provide quality financial and technical services to its Primary societies. CUA seeks to promote the credit union Movement in Ghana.

CUA and its Primary Societies have benefited from the pilot of the Board and Management Certification programme and entreats all Board members and managers to undergo this training.

German Sparkassenstiftung

The German Sparkassenstiftung actively supports financial institutions that  sustainably  promote  economic  and  social development at  local, regional, or national level through needs-based banking.

The German Sparkassenstiftung is a German development organisation that aims to make the German Savings Banks experience accessible to similar financial institutions in developing and transition countries has been in existence for more than 25 years.

Three projects have been the focus of the organization since its move to Ghana in 2010. These are the activities within the scope of the West- African Regional Project with the Ghana Co-operative Credit Union Association (CUA), the Board and Management Certification Programme with the Ghana Microfinance Institutions Network (GHAMFIN) and the Supporting Potential Refugees and Returnees Program with the German Development Agency GIZ.