Thursday, November 13, 2014
Partnership with MasterCard Foundation Working to Strengthen Board Governance in Africa
The Center for Financial Inclusion at Accion today announced a $6.1 million partnership with The MasterCard Foundation to launch the Accion Africa Board Fellowship program. Targeted at corporate board members and CEOs, the Fellowship program is designed to promote peer-to-peer learning on governance and risk management practices at financial institutions that serve low-income clients in sub-Saharan Africa.
Strong governance is widely recognized as critical to the growth and sustainability of microfinance institutions across sub-Saharan Africa, among the fastest-growing regions in the world. Through an elite network of peers, this first-of-its-kind program will address challenges such as navigating competitive markets, advancing social performance, managing both internal and external risks, and creating accountability between board and management. Addressing these challenges will promote the growth, capacity and sustainability of microfinance institutions in a region with more than 6.6 million microfinance clients....