Train persons acting in micro-finance in the CPEC, to improve the services provided to beneficiaries of the popular savings and credit union. That is the objective in purpose in the training initiative organized by the State Secretariat for National Solidarity, with the support of the Central Bank of Djibouti.
The State Secretariat for National Solidarity, in collaboration with the Central Bank of Djibouti, held yesterday at the palace of the people a training session on the governance of microfinance institutions. Training for the benefit of acting persons in the Credit Unions of savings and credit (CPEC) existing in the country.
The official launch of this session of training will last four days in a row, was held in the presence of important personalities including the Director of the ADDS, Djama Mohamed Mahdi, director of microfinance in the CPEC, Houmed Mohamed Abdallah, the assistant expert and consultant for development, Mansour Ndiaye, officials of credit unions of south and north, MM. Mahad Ali Houssein and Moukoula and the members of CPEC who number 25 in total.
« The introduction of microfinance as a new business area is in the image of the creation of any entrepreneurial sector. The nascent microfinance knows some success and should now institutionalized. He needs it to overcome the obstacles facing all small businesses expanding. These are issues of power, control and transparency as well as liquidity problems.
These problems are common to emerging sectors worldwide, it is useful to examine the evolution of these sectors such as and as they mature, « said on this occasion the director of the Djibouti Social Development Agency ( ADDS), Mahdi Mohamed Djama, explaining for this purpose the ins and outs of this training initiative.
Incidentally than an upstream work has already been done in the micro-finance development objective in the country. In this sense, during this week, he was finalizing particular issue ordinary meetings of the CPEC, both Djibouti town as inland regions to the south and the north, with the aim of renewing the governing bodies of microfinance funds, validate activity reports and especially the rules of procedure, that is to say the operating status of these banks loans.
« During the Assisi of the general meeting of the CPEC, the presence of the Prime Minister has demonstrated the government’s commitment in the national development initiative promoted by His Excellency the President of the Republic, Mr. Ismail Omar Guelleh .
In this national strategy, it is a question of setting up various activities, such as training for the governance of microfinance institutions, « said for his part the director of microfinance, Houmed Mohamed Abdallah.
« In the same context, other courses will follow very soon in terms of capacity building, accounting, credit management, financial analysis and analysis of performance of microfinance institutions. This was set up for the micro-finance development, « he continued.
Moreover, Abdullah Houmed wished to inform that « CPEC will put financial products for youth and for women, but it also will develop crafts, primary, secondary and tertiary sectors. For all trades, products will be adapted and will orientate the finance sector for the economic development of our country.  »
What what microfinance anyway? Microfinance is a set of financial services products that include micro-credit, micro -Saving, micro-insurance and money transfer through CPEC (soon to Djibouti) and money transfer by phone at national level.
Microfinance, finally, was set up for the socio economic development of the country, to enable all people without access to banking services to have a savings account and manage its revenues.