The 9th Microfinance Training of Trainers (MFTOT 9) Course, jointly sponsored by the Asian Development Bank Institute (ADBI), the World Bank Tokyo Development Learning Centre (TDLC) and joined by a new partner of China Development Bank (CDB) since MFTOT8 to support participants in African countries, is running since July-November, this year.
Petty traders can improve their businesses if they can get micro financial assistance
This is an interactive microfinance distance learning course (MFDL) developed by the United Nations Capital Development Fund (UNCDF), the UN’s capital investment agency for the world’s 48 least developed countries. The course has received high rating from participants and has become popular in many countries, including East and Central Africa. This MFTOT9 course is partially sponsored by ADBI, CDB (China) and TDLC (Japan).
Over the past seven years, eight courses were successfully delivered around the world, whereby more than 2,000 participants conducted self-studies using an interactive e-learning package, attended videoconference sessions, received online tutoring and took part in final examinations.
Among them, 893 in 55 countries were accredited to become fully-certified trainers of the UNCDF MFDL course. Top 30 graduates, who are located in Bangladesh, Cambodia, China, Ghana, India, Japan, Kenya, Lao PDR, Malawi, Mongolia, Nepal, Nigeria, Pakistan, PNG, Philippines, Sri Lanka, Thailand, Uganda and Vietnam, were engaged to work as tutors for the courses. Since 2007, course materials (workbooks and interactive CD-ROMs) have been translated from English into other languages.
Those willing to participate in this capacity building course may enquire its details, arrangements and requirements from the Tanzania Global Learning Agency (TaGLA) at the Institute of Financial Management (IFM) in Dar es Salaam.
TaGLA organises videoconferences with other Development Learning Centres (DLCs) across the world for it has modern facilities for online, face-to-face or videoconference services. Thus, it is possible to access international microfinance experts’ lectures through videoconference sessions at selected Global Development LearningNetwork (GDLN) centres like TaGLA.
The videoconference sessions feature presentations and discussions on current issues and best practices in microfinance. They are also webcast live. Local courses in selected countries are made available during the same period.
In Tanzania, low income earners may access financial services such as loans, savings, insurance and training from microfinance institutions or organisations. Microfinance is one of the great success stories in the developing world and is widely recognised as a sustainable solution to eradicate poverty. Its services include microcredit to enhance financial inclusion.
In sub-Saharan Africa, credit risks for microfinance institutions is very high, as customers need years to improve their livelihoods and face many challenges during this time.
“Low income earners are often at a financial disadvantage due to lack of project sustainability and long-term investment plans. As a result, banks or financial institutions fear their loans may not be repaid on time or not repaid at all,” says a Dar es Salaam-based practitioner of microfinance, Elizabeth Makambo.
She says she has been attending microfinance sessions for a long time and she is now bold enough to take business risks, while at the beginning she was not. She says when she started attending microfinance sessions she didn’t think she would be transformed into what she is today. She notes that she has been attending some capacitybuilding sessions and she has become more skilful and competent in microfinance.
“Capital is the main problem for many microfinance practitioners, but it is not the only one. You may have capital and lack business skills. What I can say is that you need both. That training is extremely important in microfinance,” she says.
MFTOT9 continues to pursue its goal of strengthening institutional capacity of microfinance by making high-quality microfinance training accessible to more decision-makers, professionals and practitioners in microfinance as well as increasing the number and country coverage of accredited microfinance trainers across the world.
The course consists of three modules and special topics in microfinance. At the end of Module I (The World of Microfinance), participants will be able to describe fundamental concepts in microfinance, design client-focused services, apply effective microcredit methodologies and describe the effects of the local environment on microfinance.
At the end of Module II (Financial Analysis), participants will be able to read financial statements, measure delinquency, identify key financial factors, identify effective interest rate practices and measure financial viability. At the end of Module III (Institutional Analysis), participants will be able to gauge institutional viability, strengthen relations between donors and microfinance institutions.
Through interaction with experts during videoconference sessions on special topics in microfinance, participants will be able to broaden their understanding of key issues in microfinance. The course features a unique, blended approach consisting of self-paced study using microfinance distance learning.
There is also online tutoring and e-discussion. Tutors will assist participants throughout the course in completing course assignments through grading and feedback. Online discussions will be moderated by the team leader of tutors.
MFTOT 9 is aimed primarily at development practitioners, microfinance professionals, policy makers, donor staff, socially responsible investors, students and others who want to improve their knowledge of best practices in microfinance.
Participants who wish to develop their skills in delivering microfinance training and become fully certified trainers of the UNCDF course can earn accreditation by completing all weekly assignments and the final examination for this course. Statistics of previous courses show that submission of assignments and receiving online tutoring help participants to master the knowledge of best practices of microfinance.
Since MFTOT5, submission of assignments to a designated tutor has become mandatory for all participants. Two types of certificates will be available for participants depending on their learning objectives, level of commitment and performance.
Those who do not plan to become certified trainers can earn a course completion certificate by completing course assignments. They don’t need to take final examinations.
Course assignments may be submitted in a local language if its version of CD-ROM and a country tutor are available. The learning material
translation has been undertaken in China, Cambodia, Indonesia, Lao PDR, Mongolia, Thailand and Vietnam.
Accreditation certificate – the accreditation is an important element of the course offering, and has great impact on the institutional capacity building for microfinance sector. Course participants can earn this certificate and become a fully certified trainer of the UNCDF MFDL course by completing all assignments and final exam in English with quality up to a standard.
To successfully complete the course, participants should have English proficiency. Videoconference sessions and final examination will be conducted in English. For participants who wish to receive the accreditation certificate, English proficiency is crucial.
The course requires between 10-20 hours of self-study per week, depending on the participant’s background in microfinance and language proficiency. To ensure that participants can devote enough time to the course activities, participants are encouraged to seek endorsement from their employers.
In addition, participants will need a computer with 486 processor using Windows 95 or later, a CD-ROM drive, speakers or earphones, monitor of 800 x 600 resolution and at least 256 colours.
Microfinance is an effective development intervention that enhances access to financial services by low-income earners to ease financial hardships, create job opportunities and improve their standards of living. Banks often provide loans to big businesses or profit-making organisations and exclude low income earners for fear of incurring
losses due to unreliability of their businesses. TaGLA banks on down-to-earth programmes like this one that help people become more knowledgeable and skilful, thus increasing their competence.
By DEOGRATIAS MUSHI, Tanzania Daily News
