The Toronto International Microfinance Summit – the micro way
Learn about domestic and international microfinance by joining us at the Toronto International Microfinance Summit (TIMS).
While Toronto is buzzing with movie stars at TIFF, the stars who are making a difference to millions of people around the world through microfinance will be profiled in Toronto at North America’s largest microfinance conference.
The Toronto International Microfinance Summit – the micro way, will take place on Saturday, September 17 at the Allstream Centre. In addition to the Conference, TIMS also holds a fundraising Gala, that will take place on Friday, September 16, at the Arcadian court; with proceeds going to support domestic and international microfinance projects and an educational scholarship.
Now in its third year, the Toronto International Microfinance Summit is run entirely by volunteers. From small beginnings in 2009, TIMS was the inspiration of the Rotarian Action Group for Microcredit and Rotary District 7070 Microfinance Committee and has become the premier conference and gala event for microfinance in North America. In 2009, 250 people attended the Conference. In 2010, a fundraising Gala was added to build on that success. Over 250 people attended the inaugural Gala, and Conference attendance increased to over 400 in 2010. For the second year, The MasterCard Foundation is providing financial assistance for the first 100 college and university students who register to attend the Conference.
The theme for this year’s Summit is From Microcredit to Financial Inclusion: Making a Difference in our World. TIMS will have more than 40 presenters from 30 organizations involved with both domestic and international microfinance programs. The conference program will be of interest to anyone who wants to learn about microfinance and the role it plays in supporting social enterprises, Canadian NGOs, financial literacy and financial inclusion for First Nations and youth. The conference will also connect those who are actively involved in microfinance, impact investing, technology and social innovation.
I am looking forward to hearing from the impressive list of speakers and organizations. Choosing which sessions to attend from this year’s program will not be easy for me. While all are intriguing, here are a few of the sessions that I am considering attending:
Financial Access Through Mobile Banking And Technology
I am looking forward learning how the third world is promoting financial inclusion through technology deployment. We’ll learn how the Gates Foundation is supporting global initiatives in this area; how FINCA, a global MFI organization, adopts new technologies to service their clients and get an insight into how mobile technology is transforming banking in frontier markets.
Investment Funds That Have Impact - Perspectives From Market Leaders
For the serious impact investor this is the session to attend. All presenters in this session are raising capital for investment which provide both financial return and social value. Oikocredit, Sarona Asset Management, and Rooftops Canada – Abri International make investments in emerging and frontier markets - where their money makes a big difference in economic development that goes beyond micro-finance.
These funds are designed to challenge the notion that it is all about the money - it is much more than money its enabling economic development.
Social Enterprises: Transforming Lives By Linking Markets
This is taking "fair-trade" to the next level. While microfinance is a local enabler it doesn't enable clients to sell services or products beyond their local market. True success comes when one’s products are sold into new markets. This breakout session will profile 3 passionate Canadian social enterprises looking at importing products from the third-world. The mission of these social entrepreneurs is driven by selling products to Canadians to better lives of impoverish people by helping them expand their markets.
Local Microfinance – Learn The Process And Meet The Clients
It is not easy being a visionary small entrepreneur with no money, no credit history, no track record and no where to turn. At the heart of any business is someone with a passion and tenacity to try and make something happen. Meet the clients of ACCESS Capital who have had the courage to make their small business become a reality. Their stories, experiences and backgrounds demonstrate what can be achieved and will inspire others to keep on trying to make their business dream a reality with a help of a microfinance loan.
Rating Microfinance Institutions and Risk Management
The 2008 banking crisis was a wake up call to investors of traditional banks. Big banks with their sophisticated risk tools, fraud detection monitoring, credit scoring, and high priced talent shocked the world when they lost billions of dollars because they couldn’t manage risk effectively. If established banks can't get it right, how can a microfinance institution with limited resources be expected to better their performance?
Are microfinance institutions actually lending too much? Are they solvent and being irresponsible? How do they manage their risk, what ratios do they use? Risk is real and microfinance institutions must manage their risk as well. Damian von Stauffenberg, founder of MicroRate and Lynn Exton, Chief Risk Officer from Opportunity International, will provide an overview of risk and credit monitoring in microfinance sector.
For those who are still looking to see movie stars – TIMS might get really lucky and have supporters of microfinance like George Clooney, Brad Pitt, Matt Damon or Bono take time out of their busy TIFF schedules and make an appearance at our Conference or Gala. Get your tickets now!
Note: Socialfinance.ca is a media partner for this year’s event.
