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    Untitled Document
    2011-03-25
    Graduation of the Social Welfare Fund beneficiaries out of poverty

    In cooperation with CGAP the Consultative Group for the Advancement of the Poor (CGAP), and the Social Welfare Fund (SWF), SFD is implementing a pilot that aims at training a group of economically active SWF beneficiaries on establishing income generating activities. The project which will last thirty month, aims at targeting 750 beneficiaries in the Governorates of Aden, Lahj, and Taiz.

    The consulting company acting as the technical assistance advisor has conducted a comprehensive baseline survey before the intervention to measure its impact. The survey was conducted wit the IPA Company and Yale University in the Governorates of Aden, Taiz, and Lahj. Also, the project 33 training course targeted at more than 600 beneficiaries living in the target areas, all working in activities such as: animal husbandry, marketing, and hairdressing. The project has already begun the process of buying working assets for all of its beneficiaries who had been trained to manage income-generating activities.

    Graduating out of Poverty Project Yemen March 20th, 2011


    Details...
    2011-03-14
    Workshop on the procedures and mechanisms of the internal auditing of programs and microfinance institutions

    As a result of the importance it attaches to the enhancement of internal controls and auditing of MFIs, the SMED held Unit held a workshop on procedures and methods of internal auditing of programs, institutions and microfinance banks during the period from 14 to 16 March 2011.

    The workshop was attended by a number of internal auditors of those MFIs and banks, in addition to a number of project officers working in the Unit.

    The workshop distinguished itself through the active participation of the attendees and the exchange of experiences among them, which led the participants to become more acquainted with the methods and control procedures used to discover operational or financial irregularities that MFIs and MF banks in Yemen might be exposed to.


    Details...
    2011-03-13
    The SFDs' microfinance partners workshop

    The SMED unit organized a workshop in Sana'a on March 13th, 2011 attended by 20 participants representing 13 small and microfinance programs, institutions and partner agencies. During the workshop achievements and deviations in performance of those programs and institutions for 2010 were reviewed and compared with those of 2010. The plans for the current year 2011 were also reviewed, in addition to the problems and constraints (order of importance and priority) that hinder activities and expansion plans.


    Details...
    2010-12-31
    Financial Services (financing of SME financial and proinstitutions grams)

    SFD continued to finance a number of small and micro finance programs and institutions to allow them to continue the provision of their financial services to the target group (males and females) carrying out income generating activities. Total funding reached YR 1.2 billion (equivalent to $ 5.5 million), as follows:

    Funding of Small Enterprises

    Funding of the Small and Micro Enterprises Development Fund:

    SEDF is considered as the only governmental entity that provides financial services to male and female small entrepreneurs., through a number of branches spread across Yemen's Governorates. SFD is considered as SEDF's main funding partner, as YR 640 millions (about $ 3 millions) were set aside for covering the funding needs for its branches in Taiz, Ibb, Aden, and Mukalla. This amount is equivalent to the total amounts disbursed through three agreements signed with SFD.

    Funding of Micro Enterprises

    National Microfinance Foundation:

    NMF was funded with YR 107.5 millions (equivalent about YR 502,800,000 million). This fund represents the total amount agreed upon in the loan agreement to finance operations in 12 branches in the Governorates of Sana'a, Hajja, Lahj, Hodeida, Dhamar, Ibb, Taiz. Such funding allowed NMF to continue the provision of its services to the target group.

    Abyan MF Project:

    The project provides its services in a number of districts in the Governorate of Abya, in addition to the city of Al-Mukalla by targeting women, mainly. Abyan MF was funded with YR 150 millions (about $ 701,590), representing the amounts agreed upon in two funding agreements signed the Yemen's Women Union – Abyan branch, which is the umbrella organization for the project.

    Aden Microfinance Foundation:

    A fund of YR 20 millions (about $ 93,450) was provided as part of a funding agreement signed with the foundation according to serve the target group in the Governorates of Aden and Lahj.

    Sana'a Microfinance Program (Azal):

    SFD funded the program with YR 80 millions (about YR 374,182) in accordance with a loan agreement signed with SOUL (the program's umbrella organization). Furthermore, a funding agreement worth YR 40 million, representing the second installment of total loan, amounting to YR 120 millions.

    Nama Microfinance Program:

    The program obtained a fund worth YR 97 millions (about $ 453,695) that was approved to cover the its needs, after witnessing an expansion of its activities through the opening new branches in Hodeida and Ibb, in addition to its existing branches in Sana'a, Taiz, and Aden. The fund is part of two agreements signed with Al-Islah Al-Ijtimaii Charitable Society - the umbrella organization.

    Hadhramout MF Program:

    SFD funded the program with YR 44 millions ($ 205,800), representing the total amount agreed upon in a loan agreement signed with Al-Nahdha Chariable Society. The program delivers its financial services in Seyun, Shibam, Tarim, Al-Qatn, Al-Soum.

    Al-Awael MF Company:

    The company was financed with YR 33 million (about $ 154,350), and is considered the first company in Yemen that provides its services mainly to women in a number of areas such as: the city of Taiz, Al-Raheda, and Al-Qaeda.


    Details...
    2010-12-18
    Training Course in Marketing Strategy
    Yemen Microfinance Network is glad to announce December 2010 Training course starting from 18th December throgh 22nd December 2010 in Strategic Marketing targeting MFIs staff holding the following positions: Managing Directors, Operation Managers, Marke

    Yemen Microfinance Network is glad to announce December 2010 Training course starting from 18th December throgh 22nd December 2010 in Strategic Marketing targeting MFIs staff holding the following positions: Managing Directors, Operation Managers, Marketing Managers, and Branch officers.


    Details...
    2010-11-07
    Microfinance Customer Service Distinction Course
    Yemen Microfinance Network (YMN) conducted a training course in Customer Service Distinction during the period from 7th November 2010 until 11th November 2010

    Yemen Microfinance Network (YMN) conducted a training course in Customer Service Distinction during the period from 7th November 2010 until 11th November 2010. The course offered targeed the following positions in MFIs :

    • Branch Managers
    • Loan officers
    • Customer service officers
    • Cashiers

     


    Details...
    2010-09-27
    YMN held its First Training Course
    As part of Yemen Microfinance Network (YMN) core activities YMN conducted a training course in Operational Risk Management for Microfinance Institutions during the period from 27th September 2010 until 30th September 2010

    As part of Yemen Microfinance Network (YMN) core activities YMN conducted a training course in Operational Risk Management for Microfinance Institutions during the period from 27th September 2010 until 30th September 2010.


    Details...
    2010-06-02
    Establishment of Al-Kuraimi Microfinance Islamic Bank:

    As a result of SFD's efforts in attracting new players to provide financial services to small and micro entrepreneurs, SMED has given its support for the transformation of Al-Kuraimi Exchange and Money Transfer Company into a microfinance bank. The new bank has been given help in developing its strategic plan, in addition to establishing its policies, procedures, and the necessary working systems that will allow it to reach 25,000 active clients in the coming 5 years. SMEDs efforts have resulted in the bank obtaining the license from the Central Bank of Yemen to operate officially under the umbrella of the Microfinance Banking Law.


    Details...
    2007-05-20
    Round Table Conference
    Under the auspices of H.E. Vice Prime Minister for Economic Affairs, Minister of Planning and International Cooperation, Managing Director of the Social Fund for Development, Mr. Abdul Kerim Ismail Al-Arhabi, the Social Fund for Development in collaboration with the Ministry of Planning and International Cooperation, and the German Bank for Reconstruction (KFW) organized the Round Table Conference concerning preparation of the National Microfinance Strategy
    Details...
    2007-05-20
    Sanabel Network Fourth Annual Conference in Yemen
    Under the auspices of H.E. President Ali Abdullah Saleh – President of the Republic and under the Motto "Poverty Combat: 10 Millions Beneficiaries by the end of 2010", Yemen hosts the Fourth Microfinance Conference in the Arab World
    Details...

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