Financial Inclusion

Jul 21, 2020
By Peter Woicke and Daniel Runde, opinion contributors to The Hill. Originally posted on The Hill. Peter Woike is the Treasurer and Chair of the Finance Committee for the Global Communities Board of Directors The International... Read more
Jul 09, 2020
How pivoting from auditing to advising helps financial institutions manage risk during COVID-19 By Richard Shumann,Chief Risk Officer for Vitas Group
This blog entry was originally published on FinDev Gateway   Internal auditors are an essential component of microfinance providers’ internal control and risk management functions, but how should they react to a sudden crisis? Experience in Vitas Group shows that a quick pivot from auditing to advising, supported by management and collaboration among auditors, helps financial institutions adjust internal controls and manage risk. Vitas Group operates micro and small enterprise... Read more
Jul 06, 2020
CHF Management and Consulting Services Egypt S.A.E. (CHF MCSE) provides loan guarantees to small- and medium-enterprises (SMEs) in Egypt and produced a new report called Covid-19 Impact on Performance of Micro and Small Businesses in Egypt. In light of the Covid-19 situation across the country of Egypt, SMEs are up against exceptional challenges whose effects will be felt for a long time to come. The report outlines the impact of the crisis on Micro- and Small-enterprises as well as their readiness to address the current crisis and its aftermath. Furthermore, this study will shed light on response measures adopted by... Read more
Jul 01, 2020
By Kristin Wilcox Feldman, Chief of Party, USAID CLEAR Program Link to article on Medium.com The impacts of Covid-19 are weighing heavily on so many of us right now. As reality sinks in it becomes evident that Covid-19’s weight has hit some of us more dramatically than others. As governments globally struggle to implement measures addressing preventative and acute health priorities they are also forced to recognize that the most vulnerable populations health-wise are also in overlapping categories of economic vulnerability. This has been particularly true for those working in micro, small and medium enterprises (MSMEs) which the World Bank... Read more
Jun 24, 2020
CHF Management and Consulting Services Egypt S.A.E. (CHF MCSE) provides loan guarantees to small- and medium-enterprises (SMEs) in Egypt and produced a new report called Covid-19 Impact on Performance of Micro and Small Businesses in Egypt. In light of the Covid-19 situation across the country of Egypt, SMEs are up against exceptional challenges whose effects will be felt for a long time to come. The report outlines the impact of the crisis on Micro- and Small-enterprises as well as their readiness to address the current crisis and its aftermath. Furthermore, this study will shed light on response measures adopted by... Read more
Jun 22, 2020
The COVID-19 crisis has severely impacted the business community around the world. Small businesses in developing economies have been hit particularly hard. Countries like Iraq and Lebanon were experiencing social and political unrest as the pandemic struck, while Jordan and Palestine were already facing economic recessions, further compounding their problems. This report summarizes the results of a COVID-19 client survey among Vitas Group network institutions. Surveys were conducted in May 2020 with clients in Egypt, Iraq, Jordan, Lebanon, Palestine and Romania, where Vitas served a combined 90,298 active clients and an... Read more
Jun 08, 2020
Disadvantaged, urban youth face a range of challenges in accessing financial services: long distances to reach financial service providers financial products that are inappropriate for seasonal or intermittent work, minimum age requirements to open a bank account or obtain credit, and limited experience with financial services. In addition, financial institutions have traditionally been reluctant to serve young people because they are considered unbankable (unable to save, a high credit risk due to their engagement in less-profitable enterprises, and lacking business experience and conventional collateral). Recognizing these challenges, the Mastercard Foundation-funded Youth Inclusive Entrepreneurial Development Initiative for Employment (YIEDIE) project commissioned a market assessment... Read more
Feb 22, 2020
Vitas Group, created by Global Communities is a for-profit holding company that operates a network of microfinance companies, predominantly in the Middle East. They are a unique group of companies with more than twenty years of proven track record of successfully lending to micro, small, and medium enterprises and the only such investment vehicle for impact investors in the region. Since 2004, Vitas companies have disbursed more than $3 billion to over 1 million customers with an annual default rate below two percent. Every two years, Vitas Group surveys clients in its affiliated institutions to assess customer satisfaction, the impact of loans... Read more
Dec 12, 2019
CHF Management and Consulting Services Egypt S.A.E. (CHF MCSE) provides loan guarantees to SME loans in Egypt. With funding from Overseas Private Investment Corporation (OPIC), Global Communities through CHF MCSE has established a $250 million loan guaranty facility to support lending to the enterprise sector in Egypt with a strong focus on the small- and medium-enterprise (SME) sector. Priority is given to loans with the highest job generation or retention potential. The facility can also be extended to guarantee bank loans to micro finance institutions. The program provides technical assistance and training programs on a demand-driven basis to officers and managers from partner banks. Please click below to view the November 2019 newsletter for CHF Management and Consulting Services... Read more
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