“We are here to see how we can be better, yes we are good but today we want to be great” this was a call for action from the deputy governor of the National Bank of Rwanda, Monique Nsanzabaganwa. She made this statement during the EAST AFRICA MICROFINANCE SUMMIT (EAMS2019) held at Nobleza Hotel for two days: 21 – 22 November 2019. The EAMS is a regional event that is organized by the East African Microfinance Network (EAMFNET), on annual basis, to bring together microfinance practitioners from the east African countries to share experience and learn from each other. Accelerating Women and Youth Economic Empowerment through Financial Inclusion Agenda was the theme of the EAMS2019.
This summit was also an avenue for interacting with other stakeholders who work towards promoting Africa’s financial inclusion and women and youth economic empowerment. According to Aimable NKURANGA the executive director of the Association of Microfinance Institutions in Rwanda (AMIR), the hosting organization; EAMS was a platform for participants to share experience and constructive insights as well as best practices aiming at promoting women and youth economic empowerment. Additionally, participants discussed and reflected on the opportunities, challenges and professionalism for the microfinance industry.
This Summit gave more than 240 participants (various microfinance practitioners, stakeholders, microfinance mobile money practitioners, academics, policymakers, and regulators), from Rwanda and the EAC member countries, the opportunity to learn about strategies, successes, and challenges of the East African’s responsible and inclusive finance agenda. Summit participants recommended that women and youth economic empowerment should be taken as one of the main remedies of poverty for many of African nations, and if well managed can become an effective channel and catalyst for sustainable development not only in East African countries but also to the rest of the world, especially at grassroots levels. They, all together, concurred that the microfinance industry will be more profitable if only microfinance practitioners transform their way of doing business and become greater performers. And this can be achieved only if every sector actor plays their respective roles effectively.
