One of the objective of the United Nations Millennium Development Goals is the eradication of extreme poverty particularly in developing countries, and according to experts, the Micro-finance Sector has been playing an intermediary role in reaching this goal.
The UN and its member countries have over the years put in place mechanisms to alleviate poverty and in order to enhance the achievements of the MDG's by 2015.
The 7th Annual conference Microfinance of the University Of Cape Coast Faculty Of Social Sciences has been held to help champion micro-financing, thus helping reduce poverty.
The opening of the two day conference was graced by the Vice-Chancelor of the UCC, Prof. D.D. Kuupole, the Oguaa Manhen, Osaberima Kwesi Atta II, Deans of Faculties, Apex Bodies and Microfinance Institutions, was held on the theme; Microfinance and Poverty Reduction, Taking Stock of Achievements And Challenges Towards 2015.
Professor Kojo Awusabo Asare who is the chairman of the micro-finance committee of UCC and a lecturer in population and health said the idea of the conference is to help in the sharing of ideas.
“The whole idea is to provide a platform for sharing ideas and information on micro-finance and also the university is to provide academic backing for the issue of micro-finance. The role of research institutions like the University of Cape Coast is to study if it is working, or if it is it not working.”
He added: “if it’s working, what factors make it work and how we can improve upon them, and if it’s not working what were the reasons and how can we overcome it.”
Speaking on the role of the Ministry of Finance in enhancing the operations of Microfinance, Mr. Jeffrey Gargar of the Ministry of Finance and Economic Planning told ATL FM news, that the Ministry is running a program in a Rural and Agricultural finance.
“The focus of the project is how to deepen access to finance for people living in these areas who are in low income brackets. We try to deepen the institutions who provide these services to them so they can become sustainable.”
The second day of the workshop is underway today at the Sasakawa Conference Center in the University of Cape Coast.
