Major industry players for C'bean Micro-finance Forum

Key industry players, including executives of financial intermediates, and urban and rural young entrepreneurs are set to meet at the Iberostar Rose Hall Hotel in Montego Bay for the Caribbean Microfinance Forum V (CMF V) this week.

The event will begin on Monday, June 2, and will come to a close on Thursday, June 5.

A total of 155 delegates and presenters from across the Caribbean, North America, Europe, Pacific Asia, Fiji, and Africa are expected to be in attendance.

The event will explore best practices, trends and challenges faced by entrepreneurs, as well as highlight opportunities that exist for regional micro enterprises and micro-finance providers.

The theme of the forum is 'Building an Environment for Entrepreneurs to Excel'.

The event is jointly funded by the Multilateral Investment Fund (a member of the Inter-American Development Bank (IDB), the European Union, the Caribbean Development Bank, and the Citi Foundation.

The CMF is designed to create a more developed micro-finance industry in the English-speaking Caribbean by improving financial performance and outreach and fostering a knowledge-sharing eco-system for micro-financial institutions in the region.

FINANCIAL SUPPORT

The forum has been supported since 2009 by the Caribbean Capacity-Building Microfinance Project II (CARIB-CAP II) and is managed in Jamaica by Development Options Ltd and Enclude, a multinational firm that supports the development of the micro-finance industry. CARIB-CAP II is the second phase of an effort to provide much-needed support to strengthen financial performance and improve client outreach for a group of micro-finance institutions in the region.

This year's forum will have a major focus on youth entrepreneurship, rural entrepreneurship, and technology. As a result, it is also receiving the additional support of two major presenting partners, the Development Bank of Jamaica, and the National Youth Service, along with the HEART Trust/NTA.

Maureen Webber, programme manager, CARIB-CAP II, and chief executive officer of Development Options Ltd, said the CMF V will focus on three main areas: "'Youth entrepreneurship - Developing an Ecosystem for Scalability and Sustainability'; 'Farmer to Entrepreneur - Transforming the Rural Community'; and 'Technology - Innovating to Respond'."

SHARED JOURNEY

The event will also feature a special presentation of findings of a study funded by CARIB-CAP II, which examined informal markets for micro-credit in Belize, Guyana, Suriname, and Jamaica, and the implications for expansion in the micro-finance sector. A team of young entrepreneurs from Nova Scotia, Canada, will also share its journey from being inner-city, unemployed youth, to self-employment and entrepreneurship. Jamaican entrepreneur Norman McDonald will also make a case for investment in local industries.

Speakers at the forum will include Minister of Finance and Planning Dr Peter Phillips; Minister of Youth and Culture Lisa Hanna; CEO of Creditinfo Jamaica Ltd, Megan Deane; coordinator, ACP/EU Microfinance, Emmanuel Moyart; president and CEO, International Youth Foundation, William Reese; senior policy adviser, Alliance for Financial Inclusion (AFI), John Owens; Global lead Microfinance's Stefan Plateau, among others.

Topics to be explored includes 'Empowering Rural Communities through Financial Inclusion'; 'Beyond Banana and Sugar cane - The Caribbean'; 'Youth Entrepreneurship & Economic Development'; and 'Achieving a Sustainable Rural-Financing Programme'.

- Contributed