Diamond Development Initiatives Nigeria

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Diamond Development InitiativesNigeria

• World Bank Nigeria MSME Access to Finance
  Roundtable
• June 28, 2006

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Background Information

• Not-for-profit development consulting
  organization
• Established in 2002 with offices in Kano, Nigeria
• Implementing Partner of the African Development
  Foundation, a US government agency

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Our core services

• Development of business plans
• Micro management of microfinance projects
• Project design, development, monitoring and
  evaluation
• Facilitation of trade supply linkages
• Human Resource Management
• Training and other business dev. services

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Experience

• Successfully packaged proposals for 13 MFIs that
  got a total funding of about 2 million
• Successfully packaged proposals for 15 other
  MSMEs that got a total funding of about 4
  million
• Designed MF products plans for 14 MFIs using
  the microfin software recommended by C-GAP
• Supervised the evaluation of 9 MFIs with more
  than 80,000 loans extended to clients In Nigeria.
• In Oct 2005 one of our clients (Women Development
  Initiative) was honoured by CBN as the best MFI
  in Nigeria

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Why Commercial Banks?

• Access to cheap funds
• Lower operating cost ratio
• Physical Infrastructure
• Human resources

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Our Proposed Service Model

• The Technical Service Model
• DDI serves as TSP
• Stand-alone or in collaboration with another TSP

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Our role as the Technical Service Provider

• Clients mobilization
• Screening of applicants
• Collection
• Monitoring and remediation
• Loan tracking
• Training/Knowledge transfer

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Role of the Bank

• Loan approvals
• Teller support
• Human resources
• Information Technology

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Flow chart of model
1. Outreach Activities
2. Receive Applications
Marketing
Completed Loan Application Forms
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Flow chart (contd)
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Flow chart (contd)
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In conclusion

• The stark reality is that most poor people in
  the world still lack access to sustainable
  financial services, whether it is savings,
  credit or insurance. The great challenge before
  us is to address the constraints that exclude
  people from full participation in the financial
  sector Together, we can and must build inclusive
  financial sectors that help people improve their
  lives.'
• - Kofi Annan, Secretary General United Nations

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Thank you!
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Contact Information

• 4th Floor, 16C Murtala Mohammed Way,
• P. M. B. 3268,
• Kano, Nigeria.
• Tel [phone]
• 234-64-318365
• 234-64-318366
• Fax[phone]
• E-mail ddi_at_ddinigeria.org
• Website www.ddinigeria.org