MICROCAPITAL BRIEF: Ghana Microfinance Institutions Network Adopts Code of Conduct in Collaboration with SEEP Network
The Ghana Microfinance Institutions Network (GHAMFIN), an association of 80 microfinance institutions (MFIs) serving 60,000 clients in Ghana, recently announced that it plans to adopt a code of conduct for its members following the closure of 46 MFIs in the country during 2013. According to GHAMFIN, the failures were due in part to poor management and faulty product designs.
The code of conduct was developed in conjunction with Small Enterprise Education and Promotion (SEEP) Network, a US-based network of microenterprise practitioners, with the objective of increasing the transparency MFIs. The code will be implemented by all members of GHAMFIN.
As of 2014, the SEEP Network includes members operating in
170 countries reaching approximately 90 million households.
By Ananya Tiwari, Research Associate
About Ghana Microfinance Institutions Network (GHAMFIN)
GHAMFIN is an association of microfinance institutions (MFIs) in Ghana. As of 2014, GHAMFIN has 80 members serving approximately 60,000 clients.
About SEEP Network
The Small Enterprise Education and Promotion (SEEP) Network, which was founded in 1985, connects microenterprise practitioners from around the world to develop practical guidance and tools, build capacity and help set standards to advance its mission of sustainable income in every household. As of 2014, the SEEP Network includes members operating in 170 countries reaching approximately 90 million households.
Sources and Additional ResourcesSource: www.microcapital.org
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