Annual Report
Promoting Inclusive Markets
As we look to the year ahead, we will continue to focus on our core values. Our members govern the network and their needs and priorities will drive our agenda; our learning will focus on providing innovative and sustainable solutions to the challenges facing our end clients; and our activities will remain inclusive, building better practice through open dialogue and exchange. Together, our work will improve the effectiveness of member organizations and improve their potential to drive large-scale change.
Timothy Nourse Chair, SEEP Board of Directors
countries
microentrepreneurs
SEEP’s strength lies in its global reach. SEEP represents the largest and most diverse network of its kind, comprised of international development organizations and global, regional, and country-level practitioner networks that promote market development and financial inclusion.
SEEP Theory of Change Increased access to essential tools, resources, and support services that improve effectiveness in achieving organizational missions
Build capacity and promote leadership of practicioner networks Develop and advocate for improved standards of practice Mobilize members for collective action in response to development priorities Provide demand driven products and services to members and industry Forge alliances among members and industry stakeholders
Identity
Members
Facilitate action research and collaborative learning
Community
OUR RESULTS
SEEP aims to be a constant and leading practitioner voice in an industry undergoing major changes. SEEP dedicated its resources in 2011 to expanding its role as a global convener of donors, networks, institutions and support organizations through a multitude of practitioner-led events around the world. We expanded our outreach through a growing member base in 2011 as well and now serve 134 organizations working in more than 170 countries reaching nearly 90 million entrepreneurs. To help
extend our global reach, we also launched a new website to strengthen connections, expand access to practitionerfocused tools and resources, and increase the visibility of member-led initiatives.
OUR WORK
From a renewed focus on client protection principles, to urban value chain development, to association capacitystrengthening, 2011 was a year of refocusing the industry on the ultimate end-user: the small business entrepreneur working to bring their families out of poverty. Through its work on the Mafi-Festo aimed at harnessing the full potential of markets to reduce poverty, promoting effective practices in youth-focused financial services, as well as its partnership with the Smart Campaign on expanding the reach of the Client Protection Principles, SEEP provided opportunities for industry practitioners and organizations to share experiences, develop best practices, and create standards to measure success at all levels.
institutional
members
Who We Are
Learning is accelerated across a large number of organizations/ innovations in practice are replicated at scale
Industry
Development strategies are influenced by SEEP’s collective experience and are made responsive to the needs of poor households
OUR IMPACT
Letter from the Board Embracing Change.
90 170} million
135
Market and Financial inclusion that dramatically increases participation and benefits to the poor
SEEP is a global network of practitioner organizations dedicated to combating poverty through promoting inclusive markets and financial systems.
Cause
SEEP is a catalyst for change. Through a shared commitment to reduce global poverty, members work together and with other stakeholders to increase knowledge and foster innovation, creating opportunities for meaningful collaboration and above all, for scaling impact.
Partners The SEEP Network is proud to work in partnership with these organizations to increase knowledge and foster innovation and collaboration around the world.
In Kind Support: Goodwin Procter
Commitment
SEEP provides exceptional learning experiences, a vibrant and engaged community, and access to the essential tools, services, and relationships needed to improve the effectiveness of member organizations and their potential to drive large scale change.
Values
Member Driven Guided by Innovation Inclusive Focused on Providing Sustainable Solutions
135 Members, 170 Countries, Over 90 Million Entrepreneurs
SEEP Member Headquarters Africa (Sub-Saharan) REGIONAL AFMIN - Africa Microfinance Network MAIN - Microfinance African Institutions Network
BENIN
Consortium ALAFIA
BURKINA FASO
APIM-BF - Association Professionnelle des Systèmes Financiers Décentralisés du Burkina Faso
BURUNDI
RIM Burundi - Réseau des Institutions de Microfinance au Burundi
CAPE VERDE
FAM-F - Federação das Associações Cabo-Verdianas de Micro-Finanças
CONGO
RAMIF-NK - Regroupement des Acteurs de Microfinance du Nord Kivu
CÔTE D IVOIRE
APSFD-CI - Association Professionnelle des Systèmes Financiers Décentralisés du Côte d Ivoire
ETHIOPIA
AEMFI - Association of Ethiopian Microfinance Institutions
GHANA
GHAMFIN - Ghana Microfinance Institutions Network
KENYA
AMFI Kenya - Association of Microfinance Institutions of Kenya AMPATH - The Academic Model Providing Access to Healthcare
MALI
APSFD Mali - Association Professionnelle des Systèmes Financiers Décentralisés du Mali
MALAWI
MAMN - Malawi Microfinance Network
NAMIBIA
JCC - Joint Consultative Council
MOZAMBIQUE
AMOMIF - Associação Moçambicana de Operadores de Microfinanças
RWANDA
AMIR - Association of Micro Finance Institutions in Rwanda
SENEGAL
APSFD-Senegal - Association des Systèmes Financiers Décentralisés du Sénégal
TANZANIA
TAMFI - Tanzania Association of Microfinance Institutions
UGANDA
AMFIU - Association of Microfinance Institutions of Uganda
ZIMBABWE
ZAMFI - Zimbabwe Association of Microfinance Institutions
NEPAL CMF Nepal - Centre for Microfinance
PAKISTAN PMN - Pakistan Microfinance Network ECDI Pakistan- Entrepreneurship and Community Development Institute
SRI LANKA
MFPN - Microfinance Pasifika Network SAMN - South Asia Microfinance Network BWTP - The Banking With the Poor Network
AUSTRALIA
FDC - The Foundation for Development Cooperation
CHINA
CAM - China Association of Microfinance
INDONESIA
IMA - Indonesia Microfinance Association
LAO PDR
MFWG-Lao PDR - Laos PDR Microfinance Working Group
PHILIPPINES
MCPI - Microfinance Council of the Philippines, Inc.
INDIA AIAMED - All India Association for Microenterprise Development Fair Trade Forum MFIN India - Microfinance Institutions Network ACCESS Development Services Sa-Dhan
BANGLADESH CDF - Credit and Development Forum
CAMBODIA CMA - Cambodia Microfinance Association
REGIONAL
Red KATALYSIS REDCAMIF - Red Centroamericana de Microfinanzas
FCCISL - Federation of Chambers of Commerce and Industry of Sri Lanka LMFPA - Lanka Microfinance Practitioners’ Association
ARGENTINA
VIETNAM
FINRURAL - Financial Institutions for a Rural a Development Association
VMFWG - Vietnam Microfinance Working Group
Asia REGIONAL
Latin America & the Caribbean
Eastern Europe & Central Asia REGIONAL
MFC - Microfinance Centre for Central and Eastern Europe and the New Independent States
AFGHANISTAN
AMA - Afghanistan Microfinance Association
ARMENIA
UCORA - Union of Credit Organizations of the Republic of Armenia
AZERBAIJAN
AMFA - Azerbaijan Micro-Finance Association
KOSOVO
AMIK - Association of Microfinance Institutions of Kosovo
KYRGYZSTAN
AMFI Kyrgyzstan - Association of Microfinance Institutions of Kyrgyzstan
KAZAKHSTAN
AMFOK - Association of Microfinance Organizations of Kazakhstan
RUSSIAN FEDERATION
RMC - Russian Microfinance Center
RADIM - Red Argentina De Instituciones De Microcredito
BOLIVIA
BRAZIL
ABCRED (Associação Brasileira de Entidades Operadoras de Microcrédito e Microfinanças) ABSCM (Associação Brasileira das Sociedades de Crédito ao Microempreen-dedor e à Empresa de Pequeno Porte)
COLOMBIA
EMPRENDER - Organismo Cooperativo Microempresarial de Colombia
PERU
Consorcio ProMuc ASOMIF Perú - Asociación de Organizaciones de Microfinanzas del Perú COPEME - Consorcio de Organizaciones Privadas de Promoción al Desarrollo de la Micro y Pequeña Empresa
MEXICO
ProDesarrollo, Finanzas y Microempresa
Middle East & North Africa REGIONAL
Sanabel - The Microfinance Network of Arab Countries
MOROCCO
FNAM - Fédération Nationale des Associations de Microcrédit
PALESTINE
PNSMF - The Palestinian Network for Small and Microfinance - Sharakeh
YEMEN YMN - Yemen Microfinance Network
COSTA RICA
REDCOM - Red Costarricense de Organizaciones para la Microempresa
North America
ECUADOR
CANADA
RFR - Red Financiera Rural
EL SALVADOR
ASOMI - Asociación de Organizaciones de Microfinanzas de El Salvador
GUATEMALA
REDIMIF - Red de Instituiciones de Microfinanzas de Guatemala
HAITI
ANIMH - Association Nationale des Institutions de Microfinance d’Haiti
HONDURAS
REDMICROH - Red de Microfinancieras de Honduras
PANAMA
TAJIKISTAN
REDPAMIF - Red Panameña de Microfinanzas
AMFOT - Association of Microfinance Organizations of Tajikistan
PARAGUAY
Fundación Paraguaya de Cooperación y Desarrollo
Coady International Institute DID - Développement International Desjardins MEDA - Mennonite Economic Development Associates World Relief Canada
UNITED STATES ACCION International ACDI/VOCA ADRA - Adventist Development and Relief Agency International Aga Khan Foundation USA ARC - American Refugee Committee International Bright Hope International CapitalPlus Exchange Corporation Cardno Emerging Markets Ltd. CARE USA Concern Worldwide Counterpart International CRS - Catholic Relief Services CHF International ChildFund International CI - Conservation International DAI EcoVentures International EndPoverty.org
FFH - Freedom From Hunger FHI 360 FINCA International Five Talents International Friendship Bridge Grameen Foundation Habitat for Humanity International Heifer International Hope International IDE - International Development Enterprises IRC - International Rescue Committee Making Cents International Mercy Corps Microfinance Opportunities Microfinance Transparency MIX - Microfinance Information eXchange Nathan Associates Inc NCBA - National Cooperative Business Association OIC International - Opportunities Industrialization Centers International Opportunity International Oxfam America Pact Inc. Plan International Pro Mujer Reach Global Relief International Salvation Army Worldwide Services Save the Children ShoreBank International Ltd TUP - Trickle Up Program Village Enterprise World Concern World Relief World Vision Inc. World Vision International WWB - Women’s World Banking
Western Europe NETHERLANDS
EASTERN EUROPE & CENTRAL ASIA $1,745,966,913
1,100,000
MICROENTREPRENEURS
MIDDLE EAST & NOTH AFRICA
$1,288,000,000
2,600,000 LOAN PORTFOLIO SIZE PER REGION
Active Members per Country
25 > 20-24
UNITED KINGDOM
10-14
Swisscontact - Swiss Foundation for Technical Cooperation
74,100,000
MICROENTREPRENEURS
15-19
SWITZERLAND
$21,158,674,325
MICROENTREPRENEURS
Aflatoun
Practical Action
ASIA
< 10
AFRICA
LATIN AMERICA
$4,685,187,877
7,100,000
$2,403,762,950
14,300,000
MICROENTREPRENEURS
MICROENTREPRENEURS
2011 Network of the Year REDCAMIF
2011 Member of the Year Freedom from Hunger
2011 Practitioner of the Year Janet Heisey Trickle Up
ASSOCIATION DEVELOPMENT COMMUNITY OF PRACTICE
The Association Development Community of Practice advances financial inclusion through association leadership. SEEP convenes the largest global community of microfinance associations, representing over 4,000 financial service providers serving over 90 million clients around the world. Microfinance associations play a powerful role in advancing the industry, and developing their leadership is one of the most strategic investments that can be made in the sector.
Initiatives Social Performance Working Group for Networks
Network Strengthening for Client Protection
The Social Performance Working Group for Networks advances social performance management through network leadership, drawing attention to emerging challenges and opportunities in social performance.
This project builds the capacity of 20 microfinance associations so that they can work more effectively with their member institutions on the topic of client protection.
Network Summits In-person regional and global events where representatives from associations gather to share common challenges and solutions, learn about the most current issues facing associations today, and strengthen their institutional capacity and service delivery through technical assistance workshops and peer learning.
CITI Regional Network Strengthening Program This program works with regional microfinance networks on enhancing their members’ operational, technical, and financial capacities, and strengthens their own organizations and leadership.
Initiative Spotlight
Impact Story
Social Performance Working Group for Networks (SPWG)
Network Strengthening for Client Protection: Case study of IDEPRO
In 2011, SEEP worked closely with the Social Performance Task force to gather practitioners’ feedback on the Universal Standards of Social Performance Management, reinforcing SEEP’s role as a leading practitioner voice in the industry. Each regional working group facilitated the feedback process from microfinance institutions in their local markets, which resulted in comments from 132 organizations. This practitioner perspective was essential in the formation of the standards. These standards are meant to refocus institutions on the client, with the goal of having MFIs use the standards to manage their social performance objectives and provide a global, shared understanding of social performance management.
Through a shared commitment to reduce global poverty, SEEP members work together and with other stakeholders to increase knowledge and foster innovation, creating opportunities for meaningful collaboration and scaling impact. In May 2011, SEEP helped the Institución Financiera de Desarrollo (IDEPRO) of Bolivia receive an external client protection assessment conducted by SEEP member network FINRURAL. As a direct result of the assessment, IDEPRO decided to institutionalize the Client Protection Principles in their organization and integrate the principles and their indicators into their organization’s strategic plan and monitoring system. IDEPRO is using the assessments to better understand and prioritize areas of risk within the organization and to provide greater support for their clients.
These standards assist MFIs as they look to quantify the impact of “doing good”. For many microfinance institutions, that has been the mission statement behind their work, yet measuring that impact remains a struggle. Their focus has generally turned inward, dedicated to meeting a measurable financial bottom line than social performance indicators. For those institutions with a double bottom line (turning a profit and acting as a positive social force), it is not enough to simply declare a mission statement. Today they work toward building clients’ sense of empowerment, reducing vulnerability, alleviating poverty, and providing financial services to greater numbers of poor and excluded people, among others.
IDEPRO works with micro, small, and medium enterprises in Bolivia’s main production chains: chestnuts, clothing, textiles, quinoa, timber, and tourism. Through their experience with the external client assessment, they were able to develop a strategic plan that “reinforces values and ethical behavior in all areas and levels of management.” They also added an environmental component, noting that their ethical principles are “consistent with the pursuit of balance between economic growth, social welfare, and sustainable use of natural resources and the environment, respect for the cultural diversity and promoting the reduction of economic and social inequalities.” The IDEPRO experience is important for creating and sharing knowledge with other like-minded organizations.
STATISTICS OF NOTE 2011
SPWG
} 19
learning events & trainings globally over 675 participants
Network Summits
}6
Summits hosting over 255 participants.
ENTERPRISE AND MARKET DEVELOPMENT COMMUNITY OF PRACTICE
The Enterprise and Market Development Community of Practice develops and promotes pro-poor, market-based strategies for bringing about sustainable poverty eradication. These initiatives target markets to strengthen value chains, foster productive livelihoods, and ultimately improve a community’s quality of life.
Initiatives Urban Value Chain Development PLP The Value Initiative advances knowledge and practice of urban value chain development to stimulate inclusive economic growth while focusing on vulnerable populations through direct financial and technical assistance to programs in Kenya, India, Indonesia, and Jamaica.
Market Facilitation Initiative MaFI facilitates international learning and practices on using facilitation in market systems to promote resilient and dignified livelihoods for marginalized communities.
Value Initiative: Business Planning for Sustainability and Scale Up PLP The Value Initiative partners with five leading practitioner organizations in value chain development, social enterprise, and fair trade to develop innovative models for sustainable, large-scale enterprise development.
Initiative Spotlight
Impact Story
MaFI
Value Chain Development in Indonesia development programs.
In 2011, the Market Facilitation Initiative (MaFI) synthesized the voices of its members in a document called the MaFI-festo, aimed at changing the rules of the international development game to unleash the power of markets to end poverty. The traditional roles of stakeholders such as donors, practitioners, CSOs and private firms, and their models of collaboration, are changing fast. The current architecture of the development cooperation system is hampering the application of facilitation approaches in inclusive market systems initiatives. The MaFI-festo focuses the attention of key stakeholders on a set of strategic changes that are urgently needed to effectively harness the full potential of markets to reduce poverty at scale and protect the environment. It also seeks to promote convergence and collaboration between bilateral and multilateral donors, practitioners and academic researchers working in the fields of “aid effectiveness” and inclusive markets. Finally, it also aims to inspire NGO leaders to promote the adoption of systems thinking and facilitation approaches in their own organizations and networks to increase their ability to interact with the private sector and leverage the full potential of inclusive market
STATISTICS OF NOTE 2011
4.5%
2011 Vat Tax rate in the State of Rajasthan, reduced from 15%, thanks to work by the VIP India Project Advisory Committee
Suwarno is a 62-year old tempe owner from Pekalongan, Central Java. He owns a tempe factory where he works with his entire family. In early November 2011, Suwarno replaced his entire old tempe production equipment with cleaner production equipment. He became aware of cleaner production issues and hygiene techniques through his brother Nuraji - a tempe owner from Kranggan, Bekasi - who received a stainless drum within the subsidized program of Mercy Corps, a SEEP partner in the Value Initiative, focused on promoting urban value chain development. After switching his old drum with stainless equipment Suwarno noticed changes: The tempe is cleaner and more hygienic and the color of the tempe is brighter. He also replaced his fuel and these changes have provided many benefits: less smoke in the house, more leisure time, energy savings, and a cleaner environment as no additional space for storage of firewood is needed. Furthermore, the equipment is more durable and can be used up to 10 years. Suwarno became a part of the Value program in Indonesia when he joined Mercy Corps’ branding program. The branding process from designing his label “Tempe Super SUWARNO” to printing the label took only two weeks. With his new brand and quicker production time, Suwarno has seen his company’s efficiency, and its profits, rise.
550 and growing
Resources in the MaFI-licious online bibliography
FINANCIAL SERVICES COMMUNITY OF PRACTICE
The Financial Services Community of Practice seeks to build the capacity of the microfinance industry to sustainably increase its client outreach while offering a suite of beneficial financial services. Its programs develop and promote pro-poor, market-based strategies to bring about sustainable poverty eradication.
Initiatives Financial Services Working Group
Savings-Led Working Group
The FSWG brings together practitioners to promote industry standards in financial performance measurement and increase financial management skills.
The SLWG brings together practitioners who work with savings groups to share knowledge and experience.
Innovations in Youth Financial Services Practitioner Learning Program The YFS PLP focuses on developing viable models to achieve scale in youth financial services.
Rural Agriculture Finance and Food Security PLP RAFFS focuses on connections between rural and agricultural finance and household well-being.
Youth and Financial Services Working Group The YFSWG examines the state of the youth sector and creates resources that strengthen providers and help organizations serving the youth market.
Initiative Spotlight
Impact Story
Savings-Led Working Group
Innovations in Youth Financial Services Practitioner Learning Program (PLP)
Savings groups play an important role in assisting households to sustainably save regularly, borrow when necessary and access a lump sum at the end of each 12-month cycle. By providing critical access to financial services, especially in poor communities where there are no brick and mortar financial institutions, Savings Groups contribute to financial inclusion and act as a catalyst for many other development activities. The SLWG actively advocates for this model through publications, conferences, a global database and on-line documentation center. The Arusha Savings Group Summit, held in Tanzania in October 2011, was a highlight of the working group’s agenda. Co-sponsored by the SEEP Network, The MasterCard Foundation, the Bill and Melinda Gates Foundation and DFID’s Financial Sector Deepening programs in Kenya and Tanzania, the Arusha Savings Groups Summit in Tanzania drew delegates from over 50 countries to both celebrate the accomplishments of the nascent Savings Group movement, identify innovations in practice and debate issues shaping its future. The Summit was noteworthy for its highly participatory agenda that included a world café, debates, living room conversations and small group discussions. The Arusha Summit reinforced the belief that savings groups are particularly powerful because they look at financial need through the prism of savings, rather than debt. Post-summit, the SLWG began work on a book about Savings Groups, Savings Groups at the Frontier.
Improving the quality and outreach of financial services to youth is a challenging task, but members of the Innovations in Youth Financial Services PLP partnered to find scalable, viable models that could provide youth with access to the financial services that they needed to help move themselves and their families out of poverty. In one example, SEEP member Catholic Relief Services partnered with Enlace, a Salvadorean microfinance institution. Ronald Ernesto Flores is 17 years old, and one recipient of a loan from Enlace. He is in eleventh grade and sells hotdogs, with a net profit of $200 per month. After starting his business in 2010, he learned about savings groups from Enlace and organized one called “Victorious Youth,” with 15 members. To expand his business, he took out a $50 loan from Enlace. As of April 2011, he had paid off that loan and taken out another. He uses the profits to help his parents pay for his studies. Improving outreach using innovative tools and methods discussed was the central mission of the PLP. When the program began in 2009, Enlace had provided 1,300 youth with loans, and had 266 youths participating in savings groups. Thanks to this partnership, and guidance from SEEP and other PLP partners, Enlace grew to 3,030 youth participating in their savings groups, across 10 branches, and gave loans to 2,931 youths, as of October 2011.
STATISTICS OF NOTE 2011
SLWG
} 265
participants at the Arusha Conference from over 50 countries
YFSPLP
} 301,000
As of July 31, 2011, the number of youth entrepreneurs reached by Youth PLP partners.
Initiative Spotlight
CROSS-CUTTING INITIATIVES
SEEP aims to foster learning that results in collective breakthroughs and innovations in practice. Tackling industry challenges requires a comprehensive approach that brings together stakeholders from different industry sectors. These initiatives share goals and activities that involve all of SEEP’s Communities of Practice.
List of Initiatives Health and Market Development Working Group HAMED facilitates discussions on integrating health and economic strengthening activities for the poor.
Gender Working Group
STEP UP
The GWG addresses challenges that hinder women’s involvement in microenterprise development, from regional laws to unequal control over land or assets.
STEP UP supports practitioners in their quest to expand, share and apply effective economic strengthening practices for those living in extreme poverty.
Impact Story
HAMED: Health and Market Development Working Group
Minimum Economic Recovery Standards
The Health and Market Development Working Group focused much of 2011 on connecting microfinance and microenterprise development practitioners with health professionals and policy makers to strengthen the integration of health with economic strengthening programs. One impact of these efforts was the facilitated dialogue “Going Beyond Single Solutions: Health, Microfinance and Microenterprise Development.” Using three case studies (Trickle Up – India; The Livelihoods and Food Security Technical Assistance Program (LIFT); Living Goods/BRAC Uganda) as the basis for discussion, health and microenterprise practitioners looked at the similarities, differences and the gaps in industry knowledge and experience. HAMED was asked to share these results at the Global Microcredit Summit in Spain in November 2011. HAMED’s work supports the growing interest in better understanding how the integration of health and market development can be used by microfinance organizations.
International crises, such as the Japanese earthquake of 2011, focus global attention and resources, on specific areas of the world. While programs designed to get people back on their feet quickly can be helpful, they can also create problems when they are not developed as part of a long term economic development plan. SEEP’s Minimum Economic Recovery Standards was put to the test in 2011 when it was used as part of the response to the devastating Japanese earthquake. Mercy Corps team leader Malka Older noted that the Standards were particularly helpful to her team as they transitioned from emergency to recovery. “The structure of the standards offered us a framework for thinking through our programmatic options. Working with a team new to economic recovery work, it was also important to be able to point to an international community of practice with a history of documentation and learning.”
Minimum Economic Recovery Standards They represent the industry consensus on minimum standards for economic strengthening programs in crisis environments. They highlight strategies designed to promote enterprises, employment, cash flow, and asset management among livelihoods in areas affected by conflict or disaster.
STATISTICS OF NOTE 2011
GWG
} 71
Gender Working Group Members
MERS
In 2011, the Sphere Project confirmed the Minimum Economic Recovery Standards as an official companion standard to Sphere’s Humanitarian Charter and Minimum Standards in Humanitarian Response. Hundreds of relief agencies worldwide use Sphere standards to ensure quality responses to people affected by conflict or natural disasters. UNHCR (The United Nations Refugee Agency) also fully adopted Minimum Economic Recovery Standards as its global technical standards for microfinance operations. In “Investing in Solutions: A Practical Guide for the Use of Microfinance in UNHCR Operations”, UNHCR states that “Whichever form the final project takes (indirect or direct UNHCR support) the project should follow global technical standards as defined in the Minimum Standards for Economic Recovery After Crisis.”
} 600
downloads of the Minimum Economic Standards
}
Prague, Czech Republic
SEEP Events SEEP Events SEEP is a global convener, bringing together key industry stakeholders to discuss ongoing issues and challenges related to building inclusive markets through financial and enterprise solutions. Through a variety of in-person and online events, SEEP is focused on creating forums for practitioners to share critical successes and challenges, new resources, new ideas and to build meaningful collaborations
SEEP Annual Conference The SEEP Annual Conference is the premier global event for industry practitioners and key stakeholders to connect on the challenges and opportunities they face. SEEP member organizations drive the conference agenda, based on their experiences in the field and what they identify as the most critical issues facing the industry. The content is greatly complemented by SEEP partner sessions and contributions. The conference provides opportunities for in-person networking and the exchange of new ideas, tools, and resources that support growth within the industry. The technical tracks grouped under a dual theme of Savings and Enterprise + Market Development included: Savings Groups, Formal Savings, Frontiers in Financial Services, Vulnerable Populations, and Enterprise and Market Development.
2011 Regional Network Summits Partners: MFC, Sponsored by Citi Foundation. May 17, 2011.
}
Addis Ababa, Ethiopia
Partners: ADA, AFMIN, and AEMFI Ethiopia. Sponsored by the Citi Foundation. September 21 and 23 2011.
}
In 2011, the SEEP conference welcomed over 550 participants, representing 225+ organizations from over 70 countries
Amman, Jordan
Partners: Sanabel. Sponsored by Citi Foundation. June 6, 2011.
SEEP Global Network Summit Held as part of the Annual Conference each year, the Global Network Summit provides an opportunity for microfinance association representatives to learn and share experiences on a global scale. Sponsored by Citi, the 2011 Global Network Summit brought together 105 participants, the largest GNS to date, representing almost 80 regional and national networks. Topics addressed at the 2011 Global Network Summit included mitigating industry risk and the role of associations, new frontiers in association development, and promoting product and service innovation.
SEEP Regional Network Summits In 2011, five Regional Network Summits brought together representatives of local microfinance associations to share best practices and tackle industry issues of particular relevance to them.
}
San JosĂŠ, Costa Rica
Partners: Redcamif, REDCOM, ADA. Sponsored by Citi Foundation. October 13-14 2011.
}
Manila Phillippines
Partners: BWTP, ADA, The Foundation for Development Cooperation, and the Microfinance Council of the Philippines. Sponsored by Citi Foundation. July 26-27, 2011.
Financials STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED DECEMBER 31, 2011
CURRENT ASSETS $2,328,302
Grants receivable
126,325
Prepaid expenses and other assets
57,314
Total Current Assets $2,511,941
PROPERTY AND EQUIPMENT Equipment $184,935 Furniture 52,786 Leasehold improvements
Board List
YEAR ENDED DECEMBER 31, 2011
ASSETS Cash and cash equivalents
2+3+10+33+20+1 STATEMENT OF ACTIVITIES AND CHANGE IN NET ASSETS
37,224
Software 178,324
91+6+3A 32+6+93023A
LIABILITIES AND NET ASSETS CURRENT LIABILITIES Acounts payable and accrued liabilities
$693,477
Refundable advances
1,357,665
Total Current Liabilities
$2,051,142
NET ASSETS Unrestricted $113,074 Temporarily restricted
477,093
Total net assets
590,167
34+66+A 17+83+A
UNRESTRICTED
TEMPORARILY RESTRICTED
TOTAL
Alison Griffith, Practical Action (Vice Chair)
SUPPORT AND REVENUE $1,012,025
$
$1,012,025
174,726
-
174,726
60,077
-
60,077
Membership
106,529
-
106,529
Conference
155,749
-
155,749
Sponsorships
417,555
-
417,555
Training
4,800
-
4,800
Interest
11,841
-
11,841
3,758
-
3,758
39,154
-
39,154
3,881,810
(3,881,810)
$5,868,024
($3,881,810)
Grants and contracts U.S. government assistance In-kind contributions
Publications Other revenue Net assets released from donor restrictions
Total support and revenue
Timothy Nourse, Making Cents International (Chair)
Deborah Drake, ACCION (Treasurer) Jhale Hajiyeva, Azerbaijan Micro-finance Association (Secretary) Scott Bohannon, nSight2 David Fischer, Facebook Beth Porter, UNCDF Lynn Exton, Opportunity International Ranya Abdel-Baki, Sanabel
$1,986,214
Mathew Titus, Sa-Dhan
2+3+10+33+20+1+ 350 Accumulated depreciation and amortization
Net property and equipment TOTAL ASSETS
-323,901
129,368
$2,641,309
TOTAL LIABILITIES AND NET ASSETS
$2,641,309
EXPENSES
$5,466,004
$
$5,466,004
1,109,078
-
1,109,078
125,878
-
125,878
Total expenses
$6,700,960
-
$6,700,960
Change in net assets
($832,936)
($3,881,810)
($4,714,746)
946,010
4,358,903
5,304,913
$113,074
$477,093
$590,167
Program services
Management and general
Fundraising
Net assets at beginning of year NET ASSETS AT THE END OF THE YEAR
Sharon Dâ&#x20AC;&#x2122;Onofrio, SEEP Network
Seep Network 1611 North Kent Street Suite 610 Arlington, VA, 22209 202.534.1400 www.seepnetwork.org