By; MOHAMMED KAWU, Bauchi
Bauchi State Agency for Sustainable Microfinance is partnering with Oxfam Nigeria for technical support towards sound implementation of the agency’s programme tagged, “Microfinance Institution Building Programme for Poverty Reduction (MIFIN)”.
The partnership geared to further upscale up rural cooperative financing aimed at reducing poverty among citizens of the state was sealed at the signing of a Memoranda of Understanding (MoU) between the agency and Oxfam Nigeria held at the weekend at the Budget and Economic Planning Ministry, Bauchi.
Speaking while signing the MoU, the Director General of the State Microfinance Agency, Nura Muhammad Dan’madami said that MIFIN program is aimed at strengthening the capacity of microfinance institutions and, member based groups.
This, he said, is with a view to establishing linkages for a viable and sustainable microfinance system, stressing that “The ultimate goal of MIFIN program is to enhance access of the economically active poor to finance for improved business productivity and poverty reduction”.
Dan’madami disclosed that the program is targeting at least 100 beneficiaries in each of the 323 wards of the state, saying “It will be implemented in the 323 wards of the 20 Local Government Areas, with an estimated 807,500 poorest of the poor and vulnerable groups that includes women, youth and persons living with disability (PLWD).
The director-general expressed delight that with Oxfam’s years of experience in the Livelihoods and Nutritional Empowerment (LINE) Project, rural finance and social inclusion, the agency deem it appropriate for such partnership.
“This partnership will translate into up scaling the already established Oxfam’s member based groups in the six LGAs they are intervening in the state by replicating same across the 20 LGAs”, Dan’madami said
He revealed that the partnership was brought into understanding that Oxfam train MIFIN staff on Oxfam adopted model to provide project implementation support, while the agency will manage the existing Oxfam clients for financial inclusion linkages, up scaling and sustainability.
Also speaking, Oxfam Nigeria Country Director Dr. Vincent Ahonsi said that Oxfam is working with many national and local partners including ministries, departments and agencies in Bauchi state towards improving the livelihood, and nutrition of rural communities.
Represented by Oxfam official, Samuel Lashom, Ahonsi said despite the enormous agricultural potentials in Bauchi, inadequate mechanized agricultural equipment and tools, poor access to financial services including subsidized and inclusive loan facilities, constitute constraints in fighting poverty, unemployment, and poor agricultural yields.
“For over 6 years, and with generous funding from the Global Affairs Canada, the Livelihood and Nutrition Empowerment (LINE) Project has been working to stimulate a sustainable economic growth in the state through the Village Savings & Loan Associations (VSLA) formation and support, as well as financial linkages for small farmer households”.
“These have been reducing poverty and promoting food security in six (6) implementing Local Government Areas in the state namely Alkaleri, Tafawa Balewa, Ningi, Darazo, Gamawa and Shira of the state.
“The LINE Project is a market-based agricultural initiative that promotes agricultural-driven economic growth, and responds directly to the unmet financial services of the remote, difficult to reach, and rural poor communities in Bauchi state” Dr. Ahonsi said.
The Country Director also said that the signing of the MoU is a clear testimony that through robust, inclusive, and contextual partnerships that are mutually beneficial, states can achieve transformative changes.
Vividly looked excited about the MIFIN initiative, the director said, “It is my humble belief that the vision of the Bauchi State Agency for Microfinance Agency through the Microfinance Institutions Building Program (MIFIN) aligns with the goals of Oxfam’s interventions in Bauchi state.
“Our partnership with the MIFIN Program will further facilitate the sustainability of the successes recorded in financial inclusion for the rural poor, through increased financial access, and ensuring that access of savings and loans are continuously guaranteed”.
“Oxfam will continue to offer technical support to Bauchi through our local implementing partners for the replication and sustainability of this laudable initiative in the state”, Dr. Ahonsi assured.
The Oxfam Country Director also commended the Bauchi state government for providing the enabling environment needed for Oxfam to implement its unique and remarkable pro-poor and inclusive interventions.
The occasion was witnessed by some dignitaries that includes the state commissioner for Cooperatives and Poverty Alleviation, Representatives of line MDAs, UNICEF representative and other implementing partners.
