Better equip members of the National Commission for Micro-Finance on the fundamentals and operations of the micro-finance sector. This was the goal of the two-day training that started yesterday at the People’s Palace of Djibouti.

The Secretary of State for Social Affairs, Mouna Osman Aden, yesterday proceeded to the People’s Palace at the launch of a two-day training for members of the National Commission of Micro Finance, its abbreviation CNMF. The objective of this training is to better equip and strengthen the capacities of the members of this commission on the fundamentals and the functioning of the microfinance sector.

In addition to the Secretary of State, the event was attended by Djibouti CPEC Executive Director Mohamed Houmed-Gabah Osman, ADDS Director Mahdi Djama and members of the CNMF.

Microfinance has become an important lever over time to achieve financial inclusion in Djibouti because a large part of the working population did not have access to the traditional financial system.

It is in this sense that the government set up in 2006 a committee of reflection of micro finance (CREM), then the development of a national strategy of microfinance (2006-2010) and renewed in 2012.

The overall goal is to promote sustainable access to microfinance services for a majority of poor and low-income households. As a result, for the implementation of this national microfinance strategy, a National Microfinance Commission (CNMF) was created by presidential decree in 2012. This commission, a body bringing together the representatives of the main actors, particularly sectoral ministries, MFIs, NGOs, BCD, community representatives, donors, is responsible for implementing, monitoring and evaluating the National Strategy for Microfinance.

It must ensure representation and defense of the sector (advocacy for the sector, mobilization of additional financial resources, development of local expertise, etc.), and synergy between the various actors and stakeholders.