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2012 Annual Conference and the 1st African SPM Conference
from 24/09/2012 to 29/09/2012
Kampala (Uganda)
The Africa Microfinance Network (AFMIN) will organize its 11th Annual Conference
and the 1st African SPM Conference in Kampala, Uganda, from September 24th to 29th, 2012
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Mauritanian youths launch microfinance fund
January 16, 2012
Mauritania 2012-01-15 (Magharebia.com) - A new microfinance co-operative aims at creating jobs for unemployed young Mauritanians.
"The purpose of this institution is to help unemployed young people in general, and graduates in particular, by contributing to the financing of small projects," the Lending Association for Young People announced at its January 3rd launch event in Nouakchott.
Economist Ba Hamadi believes that the initiative will be beneficial because "thus far, the limited and fairly unprofessional activity of the micro-finance sector has not enabled it to achieve either profitability or the critical mass necessary for it to thrive".
"Taken as a whole, the existing 70 micro-finance institutions in Mauritania, most of which are co-operatives, are helping only around 113,000 people, half of whom are in rural areas," the economist said.
The project has inspired a certain amount of hope among young jobseekers.
"I think it's a good thing that young people are dealing with their problems single-handedly," said Dia Mamadou, who has a master's degree in management. "We mustn't rely solely on the state, which makes a lot of promises but we never see the results. For instance, in March, the prime minister himself announced thousands of new jobs, but so far we haven't seen any of them."
Young people are being hit hard by unemployment, said Sid'Ahmed Ould Imijine, an agronomist who has been unemployed for seven years.
"There used to be loans for graduates, but these days you have to have connections in order to find anything. So, I'm hoping that things will improve with this new association created by young people themselves," he added.
According to Ba Hamadi, however, "The government did make efforts throughout last year, especially with the launch of the Construction and Public Works Service Companies scheme for unemployed university graduates and those who have completed courses at vocational training centres."
"The first phase of this scheme, which was launched on 28 November 2011, saw the creation of ten service companies, including four in Nouakchott, two in Kiffa, one in Atar, one in Nouadhibou, one in Rosso and one in Aioun," Hamadi said.
"These service companies are small and medium-sized enterprises that work in specialised trades and provide outlets for the most sought-after skills and professions in Mauritania," the economist added. "Thirty per cent of those for whom jobs are found will be economists and engineers, and the remaining 70% of beneficiaries will be people who have completed vocational training courses."
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