Tuesday, October 30, 2012
LAUNCH OF THE CMA AWARDS KENYA 2012
CMA AWARDS KENYA 2012 – INAUGURAL AWARDS The CMA (Citi Micro-Entrepreneurship Awards) will be held in Kenya for the first time this year. This will be the inaugural CMA Award Kenya 2012. Citi has partnered with the Association of Micro-Finance Institutions (AMFI) to implement the awards program in Kenya. The Citi Micro-entrepreneurship Awards program has three overarching goals: 1. First, the program seeks to raise awareness about microfinance, particularly among micro-entrepreneurs who can benefit from it and regulators who have influence over the expansion of the sector to spur policymaking that builds more inclusive financial sectors and lays the foundation for a flourishing microfinance industry. 2. Second, the program seeks to build awareness of the important role micro-entrepreneurs play in their local economies by highlighting to the world their contributions and talents. 3. Third, the program seeks to catalyze innovations among microfinance institutions that will lead to the increased supply of demand-driven products and enhanced client capability. CMA AWARDS KENYA 2012 – ENTRY ELIGIBILITY Microfinance institutions (MFIs) in Kenya are broadly encouraged to nominate their clients who have exhibited excellence in areas such as loan repayment, business growth, employment growth, and impact on the community for their local Citi Micro-Entrepreneurship Awards program. All nominees must be submitted through a microfinance institution. Micro entrepreneurs may not nominate themselves directly to the awards team in their country. CMA AWARDS KENYA 2012 – MEASUREMENT OF SUCCESS A series of indicators have been established over the past few years to gauge the success of the micro entrepreneurship awards program. A key indicator is the commitment of MFIs (Micro-Finance Institutions), gauged by the number of MFIs that submit applications on behalf of micro entrepreneurs; the number of micro entrepreneurs who are nominated for the awards; encouraging leaders and opinion shapers in the country to support the awards.