Microfinance as a development tool has become an integral part and important strategy for the development agenda of most emerging economies. It is, therefore, paramount for Ghanaian practitioners and interested parties to have a deeper understanding of the concept of microfinance and microfinance business so as to unleash the full potential of microfinance products and services to targeted beneficiaries.

The recent collapse of some Microfinance Service Providers (MSPs) in Ghana can be attributed to the lack of basic appreciation of the dynamics of microfinance by many owners and managers of these institutions. Many people view microfinance as another bank and therefore operate MFIs fully as a bank.

This module has been designed to provide participants with a broader understanding of the key technical issues in microfinance management. The manual has been structured in a way to assist participants to fully understand the business of microfinance. The manual will cover six key technical areas in microfinance including strategic planning, microfinance risk management and product development and marketing.

There is an old adage that says the fish rots from the head! This indicates the importance of leadership in every organization including those in financial intermediation such as microfinance institutions. Governance has come up as a major and key driver of the ability of microfinance institutions to achieve their objectives. Yet there are concerns that board members and potential board members either have not received the appropriate training to carry out their mandate or simply fail to carry out their mandate. Be it as it may, there is a general consensus by key stakeholders including regulator, microfinance associations and retail outlets for the need to institute effective training in Governance and Board Operations. This course is designed to provide the participant who is envisaged to be either an existing or a potential board member with a deepened understanding of governance and board operations especially as it pertains in microfinance institutions. It will identify the main structures for carrying out governance and board work across the various types of microfinance institutions and provide useful insights on how board members and other actors in the governance landscape are expected to carry out their mandate and responsibilities.

Specific sections discussed in the one (1) day course include basics of corporate governance which is designed to provide the foundation of why organizations exist, structures used by organizations to achieve their purpose, the role of governance and features of good and bad governance; principles of good corporate governance; the board’s mandate and responsibility in corporate governance; board composition and structures; board procedures, operations, appraisal and renewal. The course includes activities and various cases of relevance to microfinance governance and board operations.