Today I got a mail asking whether I am raising money; Am I? YES, and NOT. Actually the FUND has twofold objective: provide assistance and money, the former without the latter being inconsistent. The FUND aims at pooling resources to finance viable projects: everybody says that! But, JAMBO will do it within the UN Agenda for SDGs and in the framework of Basel III Committee; somebody said that, but then we will find out that there isn’t above reasoning behind.
Which is FUND background? Documents and Papers of international financial establishment, which we have reviewed and revised on top of our extensive field experience and exposure to development finance matters in three Continents where, among others issues, we have designed, managed and evaluated Credit Guarantee Fund/ Trust Fund/ Grant Facility/ Revolving Fund in: Tunisia, Bosnia, Caribbean, Romania, Mali, Albania, Netherlands Antilles, Malawi, Algeria, Morocco Ghana and Russia Federation.
Moreover, Why Africa? Which assumptions? Which justifications? Well, you may find it going through some twenty pages Proposal. Below the FUND’s features we are ready to discuss with truly interested investors:
- FUND VISION:UN 2030 AGENDA for Sustainable Development Goals.
- OVERALL GOAL: – AGENDA Goal 1. End poverty in all its forms everywhere and Goal 8. Promote sustained, inclusive economic growth. Both to be achieved with sustainable intervention.
- OBJECTIVE: –Provide assistance and financial resources to Underserved Customers, as per Basel III financial inclusion’s definition, namely, small and medium business that are the backbone of the countries’ economy.
- SPECIFIC OBJECTIVE: –To Sustain viable projects and support initiatives that empower both individuals and communities: To finance Start-up & Growth-up Business.
- STRATEGY: Microfinance Banks, Credit Unions, Cooperative Banks, Commercial Banks and Retail Banks working as a driving belt between the FUND and SME (pure Risk Fund? Risk sharing?).
- METHODOLOGY:Holistic approach as per to basic management criteria: sustainability, accessibility, affordability and market transparency, with a well-defined model of intervention. See: FINANCIAL INCLUSION, Give people a job not a loan https://itunes.apple.com/us/book/id1116912686
The FUND will do it by assisting (parallel objective) MFI to achieving a performing position in the market, in the projection that the sector will face the following three big challenges: UNDERCAPITALISATION, DIGITALISATION and MANAGEMENT.