EMMAC Team of Financial Advisors from South Hub (Lindi and Mtwara); Southern Highlands (Njombe and Iringa), Lake Zone Hub (Mwanza and Shinyanga) and two CUSO T-LED representatives, namely Joan Cooke, smiling lady seating from left and David Cooke third from left.

EMMAC Team of Financial Advisors from South Hub (Lindi and Mtwara); Southern Highlands (Njombe and Iringa), Lake Zone Hub (Mwanza and Shinyanga) and two CUSO T-LED representatives, namely Joan Cooke, smiling lady seating from left and David Cooke third from left.

Preamble

On 29th and 30th November, 2018 EMMAC hosted a workshop for Financial Advisors (FAs) with the purpose of imparting them with additional skills and knowledge required for FAs to succeed in  helping SMEs access finance. Moreover, the workshop was designed to confer FAs with Universal methodologies in approaching SMEs access to finance from SMEs selection, process and finally  actual access to finance; disbursements. The FAs were supposed to attend that workshop for assuming team roles which was crucial in making sure that SMEs eventually access finance.
Alongside EMMAC, there were other T-LED project partners, who attended the workshop including  Tanzania Women Chamber of Commerce (TWCC), Tanzania Chamber of Commerce, Industries and  Agriculture (TCCIA) and Small Industries Development Organisation (SIDO), Cuso International, and  Voluntary Services Overseas (VSO). This was so planned to ensure the entire T-LED team speak same language when it comes to T-LED access to finance component.

Workshop participants:

The Total number of Financial Advisors (FAs) who attended this workshop was 26 from 6 Regional hubs which are Mwanza and Shinyanga (collectively known as Lake Zone Hub), Iringa and Njombe (collectively known as High Southern Hub) and Lindi and Mtwara (collectively known as South Hub). The workshop was prepared and presented by high skilled and experienced Financial and
Management Consultants from EMMAC, VSO and CUSO -TIF. Other VSO/T-LED participants were TWCC who were able to make presentation but unfortunately SIDO and TCCIA who are generally essential partners for T-LED project did not attend due to logistic issues.

List of workshop presenters:

  • Ezra Musoke: EMMAC Board Member
  • Emmanuel Elisante : EMMAC CEO and Senior Manager, T-LED Access to Finance Component
  • Jed Josiah Mugangala: EMMAC SMEs Senior Financial Advisor
  • Chris Kihwele: EMMAC Head of Operations
  • Eliya Mtupile: T-LED Manager, VSO
  • Joan Cook: Core Financial Advisor, T-LED
  • Michael Kasubi: TIF Manager
  • Emmaculata: SIDO Representative

Closing remarks were made by:

  • David Cook: CUSO, Main speaker
  • Godwin Elisa: Financial Advisor – Southern Highlands Hub, Contributor
  • Hassan Ally: Financial Advisor- Lake Zone Hub, Contributor
A section of EMMAC Financial Advisors (FAs) pictured after the workshop

A section of EMMAC Financial Advisors (FAs) pictured after the workshop

Workshop Methodology:

Workshop methodologies used were workshop and group discussions, Belbin team work perfection theory and team roles, self perception inventory analysis exercises, project assignment which was completed on site, case studies, demonstrations, vivid examples and visual diagrams. The financial advisors were given the opportunity to ask questions and best practice answers were given. The workshop presenting languages were both English and Swahili to ensure maximum understanding of the workshop contents. The financial advisors were asked to provide email addresses where all presentation slides would be posted to their inboxes.

Workshop schedule:

The two-day workshop was conducted from 08:00hrs to 17:30hrs with breakfast and lunch breaks in between. Breakfast took place around 10:15hrs whilst lunch break took place around 13:30hrs.

Workshop contents and subjects: Follow at: info@emmactz.com

Workshop Outcomes and deliverables:

During the workshop the FAs were………

  • Introduced to T-LED project partners such as TWCC, TCCIA, SIDO, VSO, Cuso International and the roles partners play in making sure T-LED access to finance component is successful
  • Imparted with knowledge and skills to select credit ready SMEs and raise all the important documents for SMEs’ access to finance.
    Introduced to Tanzania Innovative Fund (TIF) and how that fund can be utilized for SMEs access to finance.
  • Taught about EMMAC take off and catch-up strategy and how disbursements can be achieved given the project has started in 3rd quarter in December, 2018.
  • Introduced and familiarized to 39 VSO value chains
  • Imparted with skills and knowledge on perfecting their teams to achieve best results
  • Given the tools and skills to manage SMEs in terms of Customer Relationship Management as a key success factor to enable them to win more deals
  • They were introduced and familiarized with the requirements of financial services providers in order for SMEs to access finance.
  • Taught to practically conform to requirements of financial services providers (FSPs) and match SMEs accordingly. The list of FSPs given to financial advisors were NMB, Equity Bank, Access Bank, Mkombozi Bank, TPB Bank, Vision Fund Microfinance, CRDB Bank, Bank of Africa, Amana Bank and Tanzania Agriculture Development Bank (TADB). Other possible FSPs which need to be explored hence utilized are SEAF (Small Enterprises Assistance Fund), Root Capital, SMEs Impact Fund, Match Maker and, Triodos, Agrifin, Accelerator, Equity for Tanzania (EFTA), GroFin, SIDO and CRDB Scheme and Vision Fund Tanzania
  • Introduced to EMMAC/VSO SMEs data management and all its applications in terms of SMEs selection; processing, data capturing, downloading and uploading SMEs’ application packs, workflow, authorization and disbursements records.

Evaluation of workshop as per feedback questionnaires:

The overall FAs workshop was successful with 85% admitting that the training was practical and excellently organized. The FAs and other participants also admitted that visual aids and discussions were 80% excellent and presented at the right level. The participants confirmed that they have had learned new skills on SMEs access to finance and understood methodologies used by presenters. In terms of presenters’ knowledge, presentation style and questions responding; 95% of all FAs reckon that they were well satisfied. Moreover, participation and interactions among Financial Advisors during the training has a score of 85% whilst 15% thinks participation should been increased

Recommendations and Suggestions:

The overall view of the FAs and other stakeholders was to conduct a similar workshop where different experiences can be shared with specific agenda on how FAs can address cross-cutting challenges in terms of SMEs access to finance. Hence to update the access to finance approach in addressing common challenges faced by SMEs as well as FAs pertaining access to finance.