In collaboration with REGMIFA’s Technical Assistance Facility “TAF” and inspiring development, Symbiotics Capacity Building announces the launch of its new training program: the CRO Circle. The program aims to strengthen risk management and control functions in Micro, Small, and Medium Enterprises “MSME” banks and Microfinance Institutions “MFIs” by empowering Chief Risk Officers “CROs”.
The CRO Circle is a comprehensive nine-month training program that combines face-to-face sessions, virtual learning, and mentoring support. It provides CROs with the necessary tools and knowledge to effectively manage risks and enhance the resilience of their respective institutions. The program also aims to develop and strengthen the soft skills and leadership capacity of CROs. Its unique approach fosters collaboration and knowledge sharing among participants, enabling them to address common challenges and explore innovative solutions that will enable their institutions to thrive in today’s dynamic business environment.
The inaugural cohort of the CRO Circle, consisting of ten participants, was launched in May 2023. The first face-to-face session took place on 14 June in Mombasa, Kenya, setting the stage for an immersive and impactful learning experience. The participants were carefully selected from esteemed institutions, with seven representing REGMIFA investees and three from Symbiotics investees from outside funds.
The ten participants are from the following organizations:
Addosser Nigeria, ASA Rwanda, FINCA Uganda, Finance Trust Bank Uganda, Juhudi Kilimo Kenya, OPTIMA El Salvador, Premier Credit Kenya, U&I Microfinance Bank Kenya, FATEN Palestine, Microloan Foundation Zambia
Through the CRO Circle, Symbiotics Capacity Building, REGMIFA TAF, and inspiring development are committed to promoting a culture of risk management excellence and driving sustainable growth in the MSME banking and MFI sectors. By equipping CROs with the necessary skills and expertise, this program will contribute to the overall financial stability and inclusive development of communities worldwide.
About Symbiotics Capacity Building
Symbiotics is the leading market access platform for impact investing, dedicated to private markets in emerging and frontier economies. The group offers investment, asset management and capacity building services. Symbiotics Capacity Building has managed over USD 18 million in technical assistance commitments from donors and generated over 145 technical assistance projects in 26 countries, benefiting 64 of our portfolio companies. symbioticsgroup.com
About REGMIFA Technical Assistance Facility
REGMIFA’s Technical Assistance Facility complements the financial services delivered to the investees of the Fund. The Facility is key to the Fund’s value proposition and its activities are complementary to other industry initiatives in the region. REGMIFA offers provides support to clients in the field of inclusive finance/microfinance, development finance, small and medium size enterprises (SME) finance (leasing factoring etc.), green finance and agriculture finance with specific projects focusing on topics such as governance, management, business planning, risk management, credit products, savings and non-credit product development, social performance management, institutional development and transformation and digital financial services. regmifa.com
About inspiring development
inspiring development is a specialized management consulting company for banks and microfinance institutions operating in developing countries and emerging markets. We are experienced industry professionals and former managers who offer a range of tailored services to effect change in an institution where it matters. inspiring-development.com
For more information, contact
Samy Derradji, Head of Corporate Communication, Symbiotics
Carmen Geil, Programme Coordinator for the CRO Circle, inspiring development