• Register
Return to: Home > News > Professional Bodies > Financial inclusion of MSMEs the main theme at UN event

Financial inclusion of MSMEs the main theme at UN event

The United Nations Conference on Trade and Development (UNCTAD) has held a workshop focussing on financial inclusion for micro, small and medium-sized enterprises (MSMEs) and the challenges they are facing in sub-Saharan Africa.

The event titled, Financial Inclusion: Best Policy Practices and Guidelines on Accounting and Insurance Regulation for MSMEs, was attended by policy makers and regulators, focussing on the impact of the challenges for MSMEs across Africa.

For the event on 19 and 20 July UNCTAD partnered with the Kenyan government, the Association of Chartered Certified Accountants (ACCA) and the Institute of Certified Public Accountants of Kenya (ICPAK).

UNCTAD chief of staff on behalf of the secretary general Daniel Owoko said: “This workshop’s objective was to help decision makers and other key stakeholders to address issues of financial inclusion, and examine the design and implementation of accounting and insurance policies to help MSMEs grow and prosper. UNCTAD encourages developing regional partnerships as a great way to make policies become practical realities.”

ACCA director for Sub Saharan Africa Jamil Ampomah said: “MSMEs typically have limited access to financial services, which stifles growth and innovation. Access to such services can be a key factor in accelerating MSMEs contribution to sustainable and inclusive growth. That’s why events such as this are needed to discuss policies about financial inclusion, so that MSMEs know who to turn to and when.”

ICPAK CEO Edwin Makori added that the workshop and strengthening regional collaboration to address challenges will aid the implementation of the African Union's Agenda 2063.

Top Content

    ARGA team, assemble!

    The new top team has been named that will see in root-and-branch reform at the Financial Reporting Council (FRC) as it transforms into the Audit, Reporting and Governance Authority (ARGA). Will the new duo be as dynamic as some are hoping? Robin Amlôt reports.

    read more

    FASB: a quest for simpler standards

    FASB chair Russell Golden addressed the IMA 2019 Annual Conference and Expo at the Sheraton San Diego Hotel and Marina, California, on 18 June. IMA immediate former chair-emeritus Alex Eng acted as moderator. Joe Pickard reports.

    read more

    The future of audit, and how to get there

    Two recent reports peer into the future of the audit profession. One analyses what an audit should offer, while the other looks at how the audit process will be carried out. Robin Amlôt takes a closer look at both.

    read more

    EFAA elects new president, focuses on digital future

    EFAA’s new president, Salvador Marin, outlined his key priorities for the next two years at the organisation’s 2019 annual general meeting, while outgoing president Bodo Richardt offered advice. Robin Amlôt reports.

    read more

    CORONAVIRUS TIMELINE: REACTIONS FROM THE ACCOUNTANCY PROFESSION

    As the Coronavirus (COVID-19) continues to spread across the world, the International Accounting Bulletin and The Accountant will be collating all the latest news and updates from the profession on the pandemic’s impact.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.