FIDES aims to contribute with reliable sustainable solutions to the key issue of facilitating economic development by creating access to financial services for micro entrepreneurs who are excluded from the formal banking system.
January 2012
FIDES has launched a microinsurance pilot program in collaboration with GIZ and Namibian partners to
serve low-income populations in Namibia. This initiative follows in the wake of the successful
implementation of a microfinance initiative and its transformation into the fully licensed FIDES
Bank Namibia Ltd. and in response to the increasing recognition that low-income individuals value
the delivery of microinsurance products in order to reduce vulnerability and thereby strengthen
livelihoods.
Please find hereto an Article published in the German magazine "EURO" (German text only):
Mikrosparen - Victorias Bankgeheimnis (PDF)
FIDES has launched a microinsurance pilot program in collaboration with GIZ and Namibian partners to
serve low-income populations in Namibia. This initiative follows in the wake of the successful
implementation of a microfinance initiative and its transformation into the fully licensed FIDES
Bank Namibia Ltd. and in response to the increasing recognition that low-income individuals value
the delivery of microinsurance products in order to reduce vulnerability and thereby strengthen
livelihoods.Please find hereto an Article published in the German magazine "EURO" (German text only):
Mikrosparen - Victorias Bankgeheimnis (PDF)
September 7-8, 2010
The board meeting of FIDES Bank Namibia Ltd. was held in Albinen, Switzerland. The picture below shows the Members of the Board of Directors:
From the left to the
right: Michiel Geers, MoB (Volksvermogen/Incofin) / Tom Newton, MoB / Hanns Peter Neuhoff, MoB (KfW)
/ Maria Gaomas, former Chairwoman of the Board of Directors / Konrad Ellsässer, MoB (swiss
microfinance holding s.a.) / Jean-Louis de Montesquiou, MoB (I&P) / Hans Jorg Kessler, MoB (swiss
microfinance holding s.a.)
The board meeting of FIDES Bank Namibia Ltd. was held in Albinen, Switzerland. The picture below shows the Members of the Board of Directors:
From the left to the
right: Michiel Geers, MoB (Volksvermogen/Incofin) / Tom Newton, MoB / Hanns Peter Neuhoff, MoB (KfW)
/ Maria Gaomas, former Chairwoman of the Board of Directors / Konrad Ellsässer, MoB (swiss
microfinance holding s.a.) / Jean-Louis de Montesquiou, MoB (I&P) / Hans Jorg Kessler, MoB (swiss
microfinance holding s.a.)On June 25th 2010 in Dakar
KfW, IFC, Swiss Microfinance Holding (SMH), Oikocredit and Investisseur et Partenaire (I&P), have signed the shareholder agreement of Saint Louis Finances. This agreement demonstrates their willingness to invest together in Saint Louis Finances, a new rural microfinance institution located in Saint Louis, Senegal.
FIDES will manage the institution during at least the first 4 years of operation.
Providing a full range of services, credit, savings, and transfer to a large population living in the region, Saint Louis Finances will offer financing solutions to people living in rural areas.
Saint Louis Finances is actively working on its license procurement and will start its operation as soon as the license will be secured.
Dakar, 25.06.2010. Sambou Colly, Director of Oikocredit Senegal - Susanne Berghaus, Program officer KfW - Jérôme Cretgny, Senior Investment Officer, IFC -Konrad Ellsässer, President of swiss microfinance holding
KfW, IFC, Swiss Microfinance Holding (SMH), Oikocredit and Investisseur et Partenaire (I&P), have signed the shareholder agreement of Saint Louis Finances. This agreement demonstrates their willingness to invest together in Saint Louis Finances, a new rural microfinance institution located in Saint Louis, Senegal.
FIDES will manage the institution during at least the first 4 years of operation.
Providing a full range of services, credit, savings, and transfer to a large population living in the region, Saint Louis Finances will offer financing solutions to people living in rural areas.
Saint Louis Finances is actively working on its license procurement and will start its operation as soon as the license will be secured.
Dakar, 25.06.2010. Sambou Colly, Director of Oikocredit Senegal - Susanne Berghaus, Program officer KfW - Jérôme Cretgny, Senior Investment Officer, IFC -Konrad Ellsässer, President of swiss microfinance holding
June 2010
«Business on credit» (PDF)
«Das Geschäft auf Kredit» (PDF)
an article written by Roman Pletter, enorm magazine 2/2010.
Microloans have long been seen as the ideal way of combating poverty.
However, they are no panacea. A new approach is now generating interest: microsaving.
«Business on credit» (PDF)«Das Geschäft auf Kredit» (PDF)
an article written by Roman Pletter, enorm magazine 2/2010.
Microloans have long been seen as the ideal way of combating poverty.
However, they are no panacea. A new approach is now generating interest: microsaving.
Windhoek, Namibia, February, 3
rd 2010
The shareholders of the first Bank for Micro-Entrepreneurs "Fides Bank Namibia Ltd" are pleased to announce that the BANK OF NAMIBIA has resolved to issue the banking license for the new financial institution. Fides Bank Namibia can now launch its operations in accordance with the BANK OF NAMIBIA's resolve.
FIDES Bank Namibia will open with an initial paid-in capital of NAD 15 million and will operate as a fully licensed commercial bank. Fides Bank Namibia will focus its operations on offering customized and affordable financial services to poorer parts of the Namibian population, which currently do not dispose of adequate access to such services. It will provide savings, credit and transfer services for micro and small entrepreneurs as well as self-employed Namibians in rural and urban areas, most of which will gain access to the formal financial sector for the first time. The new bank thereby intends to fill a major gap in the Namibian banking market: access to reliable financial services for Namibians, which are economically active, generate income and create employment.
The new institution will build on the experience of the microfinance pilot initiative, "Koshi Yomuti", which FIDES operated with the support of official German Development Cooperation (Technical Cooperation through GTZ) since 2002. Today, the pilot project already serves more than 6 000 clients, of which 91% are women and 98% are not formally employed. So far about 20 000 credits have been provided to micro-entrepreneurs, mainly in rural areas in Northern Namibia. The pilot program thereby pioneered appropriate financial products and services for this largely underserved clientele. With the establishment of Fides Bank Namibia Ltd, even larger client numbers and a further diversified scope of financial services shall be offered. FIDES Bank Namibia aims to contribute with reliable and sustainable solutions to a key issue of economic development in Namibia: Improving access to financial services for ordinary Namibians and micro and small enterprises, who are up to now mostly excluded from services of the formal banking system. Initially serving the rural communities in Northern Namibia, the Bank will expand activities to other rural, semi-urban and urban regions throughout Namibia. The establishment of Fides Bank Namibia and its consolidation throughout the initial years of operation is being supported in the framework of bilateral German-Namibian Development Cooperation through KfW, the German Development Bank.
The shareholders of FIDES Bank Namibia are socially responsible investors, who intend to create, beyond financial return, a positive development impact by facilitating the creation of employment and income - in line with the objectives of Vision 2030 and the NDP III. FIDES Bank has subscribed to the Namibian Financial Service Charter and the Black Economic Empowerment Initiatives in Namibia.
The first branch of FIDES Bank has opened its doors to the public and is located in Oshakati, the head office is in the 4-O-Regions where the bank has its roots and already gained recognition through Koshi Yomuti "Banking under the Tree".
Over the next five years, FIDES Bank Namibia intends to expand its activities to at least seven
branches, with a workforce of about 100 people and an active client base of around 23,000 micro- and
small entrepreneurs. PDF
The shareholders of the first Bank for Micro-Entrepreneurs "Fides Bank Namibia Ltd" are pleased to announce that the BANK OF NAMIBIA has resolved to issue the banking license for the new financial institution. Fides Bank Namibia can now launch its operations in accordance with the BANK OF NAMIBIA's resolve.
FIDES Bank Namibia will open with an initial paid-in capital of NAD 15 million and will operate as a fully licensed commercial bank. Fides Bank Namibia will focus its operations on offering customized and affordable financial services to poorer parts of the Namibian population, which currently do not dispose of adequate access to such services. It will provide savings, credit and transfer services for micro and small entrepreneurs as well as self-employed Namibians in rural and urban areas, most of which will gain access to the formal financial sector for the first time. The new bank thereby intends to fill a major gap in the Namibian banking market: access to reliable financial services for Namibians, which are economically active, generate income and create employment.
The new institution will build on the experience of the microfinance pilot initiative, "Koshi Yomuti", which FIDES operated with the support of official German Development Cooperation (Technical Cooperation through GTZ) since 2002. Today, the pilot project already serves more than 6 000 clients, of which 91% are women and 98% are not formally employed. So far about 20 000 credits have been provided to micro-entrepreneurs, mainly in rural areas in Northern Namibia. The pilot program thereby pioneered appropriate financial products and services for this largely underserved clientele. With the establishment of Fides Bank Namibia Ltd, even larger client numbers and a further diversified scope of financial services shall be offered. FIDES Bank Namibia aims to contribute with reliable and sustainable solutions to a key issue of economic development in Namibia: Improving access to financial services for ordinary Namibians and micro and small enterprises, who are up to now mostly excluded from services of the formal banking system. Initially serving the rural communities in Northern Namibia, the Bank will expand activities to other rural, semi-urban and urban regions throughout Namibia. The establishment of Fides Bank Namibia and its consolidation throughout the initial years of operation is being supported in the framework of bilateral German-Namibian Development Cooperation through KfW, the German Development Bank.
The shareholders of FIDES Bank Namibia are socially responsible investors, who intend to create, beyond financial return, a positive development impact by facilitating the creation of employment and income - in line with the objectives of Vision 2030 and the NDP III. FIDES Bank has subscribed to the Namibian Financial Service Charter and the Black Economic Empowerment Initiatives in Namibia.
The first branch of FIDES Bank has opened its doors to the public and is located in Oshakati, the head office is in the 4-O-Regions where the bank has its roots and already gained recognition through Koshi Yomuti "Banking under the Tree".
Over the next five years, FIDES Bank Namibia intends to expand its activities to at least seven
branches, with a workforce of about 100 people and an active client base of around 23,000 micro- and
small entrepreneurs. PDFWindhoek, Namibia, August, 4 th 2009
THE PROSPECTIVE FIDES BANK NAMIBIA LTD RECEIVES THE PROVISIONAL BANKING LICENSE FROM BANK OF NAMIBIA Financial Systems Development Services AG (FIDES) and swiss microfinance holding sa (SMH) are pleased to announce that the prospective FIDES Bank Namibia Ltd has received the provisional banking license of BANK OF NAMIBIA. The prospective bank has now six months to set up its operations.
The prospective FIDES Bank Namibia Ltd will open with an initial paid-in capital of NAD 15 million and be a full commercial bank. It will concentrate on savings, credit and transfer services for small entrepreneurs and self-employed in rural and urban area, whereas consumer lending and payroll deduction will not be its focus.
The new bank intends thus fill a main gap in the Namibian banking market: reliable financial services for those of the citizen who are economically actives, but who do not have a fixed salary. more...
THE PROSPECTIVE FIDES BANK NAMIBIA LTD RECEIVES THE PROVISIONAL BANKING LICENSE FROM BANK OF NAMIBIA Financial Systems Development Services AG (FIDES) and swiss microfinance holding sa (SMH) are pleased to announce that the prospective FIDES Bank Namibia Ltd has received the provisional banking license of BANK OF NAMIBIA. The prospective bank has now six months to set up its operations.
The prospective FIDES Bank Namibia Ltd will open with an initial paid-in capital of NAD 15 million and be a full commercial bank. It will concentrate on savings, credit and transfer services for small entrepreneurs and self-employed in rural and urban area, whereas consumer lending and payroll deduction will not be its focus.
The new bank intends thus fill a main gap in the Namibian banking market: reliable financial services for those of the citizen who are economically actives, but who do not have a fixed salary. more...
April 2009
IMMERSIONS FIDES AG is organizing in 2009-2010 together with Vimo SEWA Insurance (Self Employed Women's Association, see: www.sewainsurance.org) and ASCU (Albanian Savings and Credit Union, see: www.ascunion.org.al) an immersion process in Albania and India under the title "Overcoming poverty - decreasing vulnerability - increasing security". The three microfinance institutions want to address questions which are crucial for the sustainable overcoming of poverty and vulnerability in emerging markets. The immersion will focus on the management strategies of households towards shocks and risks. Due to insufficient risk management or preparedness, households may fall back into poverty anytime and already achieved improvements may fade away from one day to the other. Risk management is therefore one of the most important topics in development and poverty alleviation.
In addition to the management and staff members, the organizing microfinance institutions invite a number of selected key persons to participate in this process - mainly persons who support their work on a policy level as well as investors or contracting bodies interested in getting to know local realities and the activities and achievements of the households and microfinance institutions.
For further information on our R&D activities and/or application to participate in the immersion programme, please contact: sabrina.beeler@fidesgroup.org
IMMERSIONS FIDES AG is organizing in 2009-2010 together with Vimo SEWA Insurance (Self Employed Women's Association, see: www.sewainsurance.org) and ASCU (Albanian Savings and Credit Union, see: www.ascunion.org.al) an immersion process in Albania and India under the title "Overcoming poverty - decreasing vulnerability - increasing security". The three microfinance institutions want to address questions which are crucial for the sustainable overcoming of poverty and vulnerability in emerging markets. The immersion will focus on the management strategies of households towards shocks and risks. Due to insufficient risk management or preparedness, households may fall back into poverty anytime and already achieved improvements may fade away from one day to the other. Risk management is therefore one of the most important topics in development and poverty alleviation.
In addition to the management and staff members, the organizing microfinance institutions invite a number of selected key persons to participate in this process - mainly persons who support their work on a policy level as well as investors or contracting bodies interested in getting to know local realities and the activities and achievements of the households and microfinance institutions.
For further information on our R&D activities and/or application to participate in the immersion programme, please contact: sabrina.beeler@fidesgroup.org
March 2009
SOCIAL PERFORMANCE MONITORING Social Performance Measurement (SPM) as a key activity for FIDES began in November 2007 with a mission to Namibia to set up the first monitoring system within a FIDES microfinance institution. FIDES has since then designed scorecards and set up social performance monitoring systems for a commercial bank and seven MFIs in Namibia and Mali and an Islamic-compliant service company in Algeria. End of December, 2008, 2330 (1397 Namibia; 933 Mali) score-cards have been collected and the end of year reports for both countries are in preparation in early 2009. 45 FIDES local staff members, including management have been trained on social performance monitoring by end of December, 2008.
Why Social Performance Monitoring? SPM helps to ensure compliance to FIDES' social mission (double bottom line) and to monitor whether we reach our target group. It supports informed product development and refinement and helps management solutions to be well-informed by current data. Moreover, SPM promotes investment readiness by demonstrating transparent and reliable results to social investors and donors.
The characteristics of the FIDES SPM are:
The three levels of
data are interdependent. Pointed quantitative data on its own, at a point in
time, is limited as the microfinance industry has found with average loan size.
Likewise, narrative detailed accounts of the coping strategies of a handful of
clients may be interesting and colourful but is considerably less useful without
contextualizing these client stories within the aggregate picture. FIDES
approach to SPM combines the simple effectiveness of quantitative with the
contextually relevant and more complex vulnerability analysis. The vulnerability
analysis makes explicit the step that is often left out which is the deeper and
effective use of quantitative data. This combination allows us to gain a sound
understanding of our clients and their needs in order to adapt our products and
services.
SOCIAL PERFORMANCE MONITORING Social Performance Measurement (SPM) as a key activity for FIDES began in November 2007 with a mission to Namibia to set up the first monitoring system within a FIDES microfinance institution. FIDES has since then designed scorecards and set up social performance monitoring systems for a commercial bank and seven MFIs in Namibia and Mali and an Islamic-compliant service company in Algeria. End of December, 2008, 2330 (1397 Namibia; 933 Mali) score-cards have been collected and the end of year reports for both countries are in preparation in early 2009. 45 FIDES local staff members, including management have been trained on social performance monitoring by end of December, 2008.
Why Social Performance Monitoring? SPM helps to ensure compliance to FIDES' social mission (double bottom line) and to monitor whether we reach our target group. It supports informed product development and refinement and helps management solutions to be well-informed by current data. Moreover, SPM promotes investment readiness by demonstrating transparent and reliable results to social investors and donors.
The characteristics of the FIDES SPM are:
- Usable: the system has been repeatedly simplified and adapted over the last year to ensure usability and mainstreaming of system into daily operations
- Iterative: crucial that it is designed to be capable of modification over time
- Relevant: mix of FIDES wide indicators and country/context specific indicators
- Rigorous: based on industry and research best-practices and standards for social monitoring
| Level | Example | Brief Description |
|---|---|---|
| I. Client Poverty Measurement | 67% of clients were below the poverty line. | This data generates a score for each client. Then comparisons can be made between client scores and scores of all inhabitants who have responded to the national household survey for the same questions. It has all of the limitations of pointed, quantitative analysis. |
| II. Client Profiling | 87% of clients are in the two poorest poverty segments | This data describes (in %s) and segments (in quartiles or sections) the client base in terms of social data: gender, poverty, rurality and the nature of their enterprise. Key portfolio data is also included that is relevant to social: retention rate; distribution of savings balances and distribution of loans disbursed as % GNI p.c. |
| III. Vulnerability Analysis | Women in this region seem to self-exclude from financial services or exit at higher rates | This level attempts to analyze the more complex situation of client vulnerability at the household level. It requires various qualitative and quantitative methods. This analysis uses data from the previous levels and other relevant portfolio data to conduct higher-level analysis. It is highly context-specific and relates to risk-reduction, income and asset building strategies. Vulnerability analysis needs to position itself in relation to the quantitative levels to be meaningful. |
May 2007
ALGERIA FIDES has won the GTZ tender for the creation of a new microfinance institution in Algeria and is currently working on initial implementation issues on the field. In this country the microfinance industry is largely underdeveloped. Half of the population is under 20 years old and the creation of micro and small enterprises is often the only possibility for income creation. This new program includes important capacity building efforts for local staff and a research program on product, development, client satisfaction and impact on poverty alleviation.
ALGERIA FIDES has won the GTZ tender for the creation of a new microfinance institution in Algeria and is currently working on initial implementation issues on the field. In this country the microfinance industry is largely underdeveloped. Half of the population is under 20 years old and the creation of micro and small enterprises is often the only possibility for income creation. This new program includes important capacity building efforts for local staff and a research program on product, development, client satisfaction and impact on poverty alleviation.
April 2007
Mali During a 3-days workshop in Sankt Trudpert-Münstertal, the core team members from our Mali projects have met with Konrad Ellsässer, Markus Schär and Dr. Karl Osner in order to discuss and agree on the future strategy for our projects in Mali.
Mali During a 3-days workshop in Sankt Trudpert-Münstertal, the core team members from our Mali projects have met with Konrad Ellsässer, Markus Schär and Dr. Karl Osner in order to discuss and agree on the future strategy for our projects in Mali.
March 2007
MALI FIDES has signed a new contract with the GTZ for the period 2007 to 2009, on the expansion of the SFR network and the creation of Mali Nord Finance, an apex providing basic support services for the SFRs. MNF will be capitalized by institutional investors including KfW and SMG.
MALI FIDES has signed a new contract with the GTZ for the period 2007 to 2009, on the expansion of the SFR network and the creation of Mali Nord Finance, an apex providing basic support services for the SFRs. MNF will be capitalized by institutional investors including KfW and SMG.
January 2007
ALBANIA In 2007, the Albanian Savings and Credit Union (ASCU) and its network of local Savings and Credit Associations (SCAs) across the country can look back on 15 years of successful work.
Initiated under a World Bank poverty alleviation program after the dismantling of collective farms in 1992, ASCU has since developed into a fully supervised cooperative microfinance institution composed by Savings and Credit Associations and unified in a Union. Thanks to its set-up with a strong social rooting in local communities and to the Union, which insures necessary capacity building, refinancing, control and development functions for the network, ASCU is today a well-recognized and highly appreciated institution in Albania.
Focussing on rural areas (the majority of the population of Albania is still living in villages and small towns) ASC Union's clients are farmers, artisans, traders and other service providers. With currently about 10 000 active borrowers and a portfolio which exceeds EUR 20 million, ASC Union is today the most important microfinance institution in Albania. After an initial stage of growth the institution is profitable, covering its operational and risk costs. This is even more remarkable when taking into account the orientation to the target group of rural and relatively poor families. External ratings indicate excellent impact on poverty alleviation and decreasing vulnerability on target group level. The institution has reached a benchmark function in Albania and has inspired several other microfinance initiatives. This is a huge achievement and it is a great pleasure to celebrate with all those who have supported ASCU and helped to make it happen.
Looking ahead, we have to ensure that the development continues - without loosing sight of the initial mission. Key challenges of the future will be to further build on past achievements and to create the technical and institutional conditions for even broader access to financial services for micro entrepreneurs in Albania. Small entrepreneurs and their families will need more diversified financial services in order to upgrade their businesses in a competitive environment. At the same time deposit collection will increase and play a growing role as a resource for credit. In order to serve clients at the scale at which demand exists and to protect savings and to cover credit risks, ASC Union's level of capitalization needed will be higher and more important refinancing resources will be required in future.
FIDES has played a key role in the initial set-up in 1992 and has since been closely involved in the development of the institution and its personnel. Fides is committed to continue its support in the future and to ensure that ASC Union will play a key role in building an inclusive financial sector in Albania.
ALBANIA In 2007, the Albanian Savings and Credit Union (ASCU) and its network of local Savings and Credit Associations (SCAs) across the country can look back on 15 years of successful work.
Initiated under a World Bank poverty alleviation program after the dismantling of collective farms in 1992, ASCU has since developed into a fully supervised cooperative microfinance institution composed by Savings and Credit Associations and unified in a Union. Thanks to its set-up with a strong social rooting in local communities and to the Union, which insures necessary capacity building, refinancing, control and development functions for the network, ASCU is today a well-recognized and highly appreciated institution in Albania.
Focussing on rural areas (the majority of the population of Albania is still living in villages and small towns) ASC Union's clients are farmers, artisans, traders and other service providers. With currently about 10 000 active borrowers and a portfolio which exceeds EUR 20 million, ASC Union is today the most important microfinance institution in Albania. After an initial stage of growth the institution is profitable, covering its operational and risk costs. This is even more remarkable when taking into account the orientation to the target group of rural and relatively poor families. External ratings indicate excellent impact on poverty alleviation and decreasing vulnerability on target group level. The institution has reached a benchmark function in Albania and has inspired several other microfinance initiatives. This is a huge achievement and it is a great pleasure to celebrate with all those who have supported ASCU and helped to make it happen.
Looking ahead, we have to ensure that the development continues - without loosing sight of the initial mission. Key challenges of the future will be to further build on past achievements and to create the technical and institutional conditions for even broader access to financial services for micro entrepreneurs in Albania. Small entrepreneurs and their families will need more diversified financial services in order to upgrade their businesses in a competitive environment. At the same time deposit collection will increase and play a growing role as a resource for credit. In order to serve clients at the scale at which demand exists and to protect savings and to cover credit risks, ASC Union's level of capitalization needed will be higher and more important refinancing resources will be required in future.
FIDES has played a key role in the initial set-up in 1992 and has since been closely involved in the development of the institution and its personnel. Fides is committed to continue its support in the future and to ensure that ASC Union will play a key role in building an inclusive financial sector in Albania.
© 2007 FIDES | FINANCIAL SYSTEMS DEVELOPMENT SERVICES AG
