Microfinance: Niger at school for the success of inclusive finance in Benin

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Niger intends to draw inspiration from Benin’s experience in the operationalization of the National Microfinance Fund (Fnm) to formalize the operationalization of the Financial Inclusion Development Fund created by Niger since 2020 as part of the implementation of its National Inclusive Finance Strategy. To this end, a delegation from the Republic of Niger led by Dr Mahamane L. Makaou, Executive Secretary of the National Strategy for Inclusive Finance of Niger (SNIF) stayed in Benin from Wednesday April 20 to Friday April 22, 2022.
Working sessions with the executives and technicians of the National Microfinance Fund (FNM) on the mechanism put in place by the Government of Benin to make inclusive finance a success, and field visits to assess the system put in place to ensure reimbursements , were the highlights of the mission in Benin.
According to Abdou Rafiou Bello, Managing Director of the FNM, the Nigerian delegation was able to appreciate all that is good in terms of microfinance in Benin. The delegation was able to appreciate on the ground how the populations welcomed this digitized form of the implementation of Microcredit Alafia.
“(…) Apart from the public microfinance programs that we lead, we also have a mission to support the microfinance sector in a global way and in this respect, we do what is called in technical terms, refinancing”, explained Dg FNM to the press.
“We are in Benin as part of an impregnation mission, because Niger has had a national inclusive finance strategy since 2018. And the instrument for operationalizing this strategy is an investment fund called the inclusive finance investment fund. It was created in 2020 but is not yet operational.
We are here with the FNM to draw inspiration from its experience in the implementation of funding for our most vulnerable populations. And so that we can operationalize our fund when we return to our country,” said Dr. Mahamane, Executive Secretary of Niger’s National Inclusive Finance Strategy and head of the Niger delegation. “Benin has a long and rich experience in microfinance, particularly on inclusive finance. So it goes without saying that it is the most appropriate country for us to come and learn from its example. It is a neighboring country, we have practically the same populations, the same needs and Benin had made a long progress and it was a question of coming to be inspired by this experience”, he specified.

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