This year the CMFA will be carrying out a number of well-defined activities.
Caribbean Microfinance Forum VI
The Sixth Caribbean Microfinance Forum (CMF VI) is expanding microfinance and social entrepreneurship in the Caribbean into a brand new global conversation. CEO’s, CFOs, Directors and financial services professionals drawn from the region’s leading microfinance institutions (MFIs) will meet in Miami, Florida between July 6 and 9, 2015 to discuss and exchange ideas for the development of the Caribbean microfinance sector along with policymakers, investors, academics and development partners and experts. Among the planned new features at this year’s Forum will be a Microfinance Exhibition to profile the achievements of regional MFIs, and B2B Networking Sessions to facilitate new connections and deepen existing business relationships.
Performance Monitoring & Benchmarking
The CMFA intends to play a leadership role in the development of microfinance services in the Caribbean region, and this includes promoting the sharing of information and increased transparency among the institutions involved in the sector. It is also our intention to establish a uniform basis for comparative analysis with industry standards. The CMFA publishes an annual performance report that makes use of industry-recognzed performance indicators to assess the results of it members. Reports are available for 2011, 2012 and 2013.
Financial Education Training
Client education has to play a more integral role in the development of the Caribbean microfinance industry. the CMFA is playing an active role in this key non-financial component of regional economic development. Financial education empowers MFI clients to take greater advantage of the financial services available to them. Using our Financial Education Toolkit, the CMFA is partnering with its members and other stakeholders to deliver training to clients. A total of 4,457 microentrepreneurs and economically active low-income persons were trained in 2014. The programme was delivered in 7 of the 9 CMFA member countries, including Jamaica, Guyana, Belize, Dominica, St. Lucia, Trinidad and Suriname.
Citi-CMFA Caribbean Microfinance Awards
The Citi-CMFA Microfinance Caribbean Awards, which has been held annually since 2012, recognize the efforts and commitment of microfinance institutions (MFI) and individuals that ensure maximum financial and social returns within the microfinance sector in the Caribbean. The Awards are designed to raise awareness about the importance of microentrepreneurship and microfinance in supporting the financial inclusion and economic empowerment of low-income individuals in the Caribbean, and to recognize and highlight outstanding performance at the MFI and individual level.
The CMFA and the Smart Campaign are currently partnering to introduce Client Protection Assessments to the Caribbean. We have embarked on a programme to train and certify Assessors, deliver an online client protection training series and assess microfinance institutions (MFIs).To date four (4) CMFA members have received Indepth Client Protection Assessments.