Panel -- Microfinance 2.0: The next frontier of growth

Panel Summary:

The goal of this panel is to discuss the issues facing microfinance organizations in Africa as they expand to meet the capital needs of entrepreneurs at what is commonly called the “bottom of the pyramid.”  Questions that will be addressed include:

1. What are the areas of growth for microfinance institutions in terms of capital lending and raising?

2. How will the competitive landscape evolve with the proliferation of microfinance institutions and the entry of traditional banks?

3. Should microfinance organizations become official banks (ie: deposit taking institutions) to expand growth? If so, what are the best practices?  What limitations come with this transition?

4. Should profits from microfinance institutions be reinvested into socially responsible initiatives (education, health awareness, etc.) or should these profits be returned to shareholders with a for-profit focus?
Bunmi Lawson
Managing Director/Chief Executive Officer
ACCION Microfinance Bank Limited

Mrs. Bunmi Lawson is the pioneer Managing Director/Chief Executive Officer of ACCION Microfinance Bank Limited.  ACCION Microfinance Bank was established by a group of highly successful banks, local and international investors namely; ACCION International, Citigroup, Ecobank, International Finance Corporation, SME Managers and Zenith Bank. 

Mrs. Lawson holds a Masters Degree in Business Administration from the IESE Business School, University of Nevera and is an alumni of the Lagos Business School.  She is a Fellow of the Institute of Chartered Accountants of Nigeria and has attended several courses both locally and internationally at renowned institutions including Harvard Business School and INSEAD.  She has presented several lectures locally and internationally in areas of capacity building for small scale industries and young entrepreneurs, SME Financing, Microfinance and has been part of special workgroups on various topics bothering on several aspects of the economy.

Prior to joining ACCION, Bunmi was a co-owner and Executive Director of VLA Lawrence & Associates, a leading Human Resources services organization; the Executive Director of FATE Foundation Ltd/Gte, a leading business development service provider, and has over 18 years experience in finance, insurance, marketing and auditing. 

She is happily married with children.
Wessel Smit
Legal Director
Blue Financial Services

Wessel practised as an attorney before becoming involved in the micro-lending industry in 1995. He served on the board of the MLA (Micro-lending Association), a self-regulatory entity established by the industry, for three years, two of these as elected Vice-chairman. He was part of the process through which presentations to and negotiations with the government took place, resulting in legislative amendments and the appointment of the MFRC (Micro-finance Regulatory Council) as the South African industry regulator.

Wessel also served as the head of the legal department of Unity Financial Services (1997-1999), during which period he was involved in designing products and product documentation. With the incorporation of Unity into the ABIL group, he was appointed as head of the legal department of African Bank (2000-2003). Thereafter he practised as an attorney specialising in commercial law, during which time he provided legal services to Blue, including advice on the legislative position in the various countries of operation. In 2005, Wessel joined Blue as a director and its in-house legal representative.
James Mwangi
Managing Director & CEO
Equity Bank
Dr. James Mwangi is the Managing Director and Chief Executive of Equity Bank. Prior to his promotion to the position in 2004, James served as the Finance and Strategy Director for a period of 12 years.

Dr. Mwangi’s involvement in Microfinance has been globally recognized and has been appointed to serve on the UN Advisory Group on Inclusive Financial Systems for a period of 2 years from April 2006. In 2007, Dr Mwangi was appointed advisor to the United Nations Environmental Programme on Commercialization of Microfinance in Africa. He also served on the 8 member global round table team that discussed the intervention that the Bill & Melinda Gates Foundation is playing in Microfinance.

In June 2007, Dr. Mwangi received the 2007 Global Vision Award in Microfinance, alongside Nobel Peace Laureate Prof. Muhammad Yunus. The Award was in recognition of Microfinance as one of the “Concepts of the Future” that will change the world economy.

Dr Mwangi has also been enrolled to the membership of the 2007 Clinton Global Initiative bringing together the world’s most influential leaders to devise and implement innovative solutions to some of the world’s most pressing challenges.

Michael Chu
Senior Lecturer of Business Administration
Harvard Business School

Michael Chu was appointed a Senior Lecturer in the Initiative on Social Enterprise of the General Management Group of the Harvard Business School in July 2003. He is also Managing Director of the IGNIA Fund, an investment firm based in Monterrey, Mexico, dedicated to investing in commercial enterprises serving low-income populations in developing countries, which he co-founded in 2007. He continues to serve as Senior Advisor and a founding partner of Pegasus Capital, a firm in Buenos Aires dedicated to deploying equity capital in Latin America, with a portfolio which includes major companies in Argentina.