Examples of innovation - Revolutionizing the sector 
      1. Transformation of MFIs into regulated financial institutions.
      •   This has led to:-
          – Entry of conventional banks into the microfinance space.
          – Increased Competition 
          – Introduction of many new products.
          – Increased access to financial services (financial inclusion)
          – Attraction of new capital from local financial markets and 
             foreign sources.
          – Partnerships in new products
          – Reduction of interest rates
             Examples of innovation - Revolutionizing the sector 
      •  Examples of New Products
      •  Value addition Community based enterprises, such as.
          – Community water projects
          – Leasing of small holder farmers equipment
      •  Proliferation of investment clubs with links to microfinace, as 
         suppliers of capital to CBEs 
      Examples of innovation - Revolutionizing the sector 
   2. Mobile Banking Systems.
    – The famous M-Pesa made & continues to make big impression.
    – Current innovation: MFI/Bank mobile banking systems
      • Links to banking, payment systems & M-Pesa likes 
      •  Facilitating payments for goods, services & utilities
      • Opening access to many more customers
    – Over 2,000 entrepreneurs participating in the iHub 
      • A forum (technology hub) - entrepreneurs who seek to leverage on 
       mobile technology.
      • Developing solutions for MFIs/Banks & other sectors which will 
       further open access.
       Examples of innovation - Revolutionizing the sector 
     – Examples 
      Recommendation/role for European Microfinance Platform 
                             members 
    1. Support Regulators to 
       –  Develop policies & regulations for mobile systems
    2. Support innovation accelerator initiative – seeking to
       –  Help stimulate a startup of technology based SMEs to provide 
          services to masses.
       –  Bring in Angel/seed capital
       –   Mentorship to young entrepreneurs
       The Midnight Sun Group (innovation Accelerator), ihub & mlab – examples 
          of players in this space.
    3. To further deepen outreach:
       –  Support funds that focus on smaller & rural based MFIs
       –  Support activities that bring together investors & MFIs in Africa.