Training of Trainers and Certification in Financial Education
PROSPECTS is a four-year innovative inter-agency partnership between the Government of the Netherlands, the World Bank, IFC, ILO, UNHCR and UNICEF. The goal of the partnership will be to strengthen the socio-economic enabling environments of communities that host different forcibly displaced populations (IDPs and refugees) to ensure sustainable decent work, training and education opportunities, as the policy, legislative and regulatory frameworks facilitate this integration process. As part of the PROSPECTS project, the ILO focuses on building the capacities of service providers, social partners and end beneficiaries, in the areas of entrepreneurship development, cooperative development, financial education as well as on the promotion and access to financial services. It is in this context that the ILO Global Programme on Financial Education is currently being deployed in Ethiopia.
The Association of Ethiopian Microfinance Institutions (AEMFI)
The Association of Ethiopian Microfinance Institutions is an apex organization of microfinance institutions (MFIs) formed as a non-profit and non-governmental association of the Ethiopian microfinance institutions as defined by Proclamation No. 40/1996 under which microfinance institutions in Ethiopia are regulated by the National Bank of Ethiopia. It was registered and licensed by the Ministry
of Justice of the Federal Government of Ethiopia in June 1999. The original goals were for it to serve as a platform for knowledge and information sharing, represent the Ethiopian MFIs on national and international platforms and build the capacity of its members. Since its formation, AEMFI’s goals and activities have broadened to include training, research, performance monitoring and benchmarking
and provision of technical assistance.
Regionally, AEMFI is one of the strongest of the Country Level Networks in Africa.Currently, AEMFI is engaged in research, project management, coordination, and training. To date, its training activities are limited to offering short-term pertinent courses/modules in the inclusive finance arena. Preparations are also underway to start full-fledged training programs with a standard
curriculum that would lead up to the level of a master’s degree. AEMFI organizes various national and international conferences. It also hosts industry-wide workshops and a biennial conference as one of its dissemination activities; to date, it has organized eleven biennial conferences. It publishes the papers presented in its workshops in proceedings. It also has an occasional paper series. In partnership with
various development partners, bilateral organizations, and the government, AEMFI has implemented numerous projects.
ILO- AEMFI partnership Following discussions between AEMFI and the ILO PROSPECTS project in Ethiopia, synergies have been
observed for AEMFI and the ILO to collaborate on several activities promoting the financial inclusion of forcibly displaced persons and host communities of Ethiopia. The two agencies agreed to collaborate in the areas of Financial Education and Microinsurance certification programmes to spearhead their financial inclusion agenda.
In this framework, the objectives of the ILO collaboration with AEMFI are aiming to : (i) Increase the outreach of the ILO Financial Education programme through the integration of ILO financial education trainings as part of the offering of non-financial services delivered by AEMFI’s member microfinance institutions; (ii) Developing the capacity of AEMFI’s member MFIs with several ILO capacity building programmes, in view of supporting them improve their performance and efficiency, as well as diversifying their offering to extend their financial products; (iii) Supporting AEMFI’s member MFIs in research, product development and Micro-insurance product development; and (iv) Supporting sustainable delivery of the newly created and/or adapted financial products. In this context, the ILO is calling for expression of interest from trainers from MFIs employees to be trained in the ILO financial education program.
► The Financial Education Programme
The ILO has been working in the field of financial education for over a decade. The ILO’s Global Programme on Financial Education is a holistic programme of policy dialogue and capacity building at all levels. It works with policy-makers at the macro level and training providers and multipliers at the meso level to promote improved knowledge and skills in personal financial management among the
most vulnerable groups.The implementation of the ILO’s financial education programme is based on a multiplier approach through the training of trainers (ToT), followed by the training of beneficiaries (ToB). Training of trainers participants will have the opportunity to become ILO-certified trainers by fulfilling a series of criteria,including through the roll-out of training with target beneficiaries.
Training of trainers is often delivered to trainers from partner agencies and other key actors who are able to reach end beneficiaries including poor women and men, youth, migrant workers, rural workers as well as entrepreneurs and micro, small and medium enterprises. These key partners may include government agencies, ministries, central banks, NGOs, microfinance institutions, banks, business development service providers, trade unions, recruitment agencies, vocational training institutions,
insurance agents and rural extension agents, among others. Trained trainers are then able to support the main beneficiaries.
The financial education training material consists of a trainer’s manual, which guides the conduct of each training session, and a trainee’s booklet, which is adapted to the local socio-economic context, the financial system and the values and customs of the vulnerable groups targeted. It is designed and adapted by the ILO for each context to ensure that it conveys good financial management practices to help the targeted vulnerable people make more informed financial decisions in the long term. The Financial education training materials aim to:
- Equip future trainers with knowledge and skills in personal finance management so that they
can help target groups make informed financial decisions.
- Reinforce the behaviour of target groups to encourage better budget planning, increase savings, promote prudent spending, encourage borrowing and learn to better manage risk.
The ILO’s Global Financial Education Programme is widely praised for the quality of its financial education
training materials, in particular for their ease of use, adaptability to diverse contexts and target groups,
and breadth of technical content, adequately addressing the needs of trainers and trainees.The world-class delivery of the ILO’s financial education training is due in part to its strict certification system, ensuring the highest quality of training for beneficiaries, as well as its global database, the ILO Financial Education Portal, which has generated an interactive community of practice, closely monitoring the progress of the ILO’s financial education training worldwide and enabling constant improvements to the programme.
► Certification Process
A key consideration for those wishing to become ILO Certified National Trainers in Financial Education is the need to demonstrate a strong capacity to dedicate time to the certification process. As a general rule,candidate national trainers may need to find creative ways to deliver their training and go through all the necessary steps to become certified.To be certified as a national trainer, the candidate must:
1. Attend a full ILO Financial Education Training of Trainers workshop delivered by a certified regional or international trainer.
2. Have a good command of the ILO’s financial education tools.
3. Implement at least 3 complete learning cycles (each cycle must include all the essential sessions indicated in the manual used during the ToT – generally around 20 to 25 hours per cycle). The cycles are supervised by a regional or international certified trainer.
4. Participate in a certification workshop, during which the regional or international certified trainer will evaluate the candidates by means of an assessment.
5. Demonstrate excellent mastery of the ILO’s financial education training methodology, which includes thorough preparation of the training, appropriate use of different training methods, ability to convey the training objectives and perfect command of the ILO’s participatory approach and tools throughout the training.
6. Refer all information about the national trainer candidate and the trainings to the ILO Financial Education Portal, which is the ILO’s main financial education training database.
► How to express your interest
AEMFI and ILO now invite AEMFI member MFIs and Financial Service Providers (FSPs) to indicate their interest in participating in the above-mentioned certification and ToT program. Interested MFIs can provide information demonstrating that they have qualified staff to participate in the certification and ToT programme.
The process of selection:
There will be two layers of selection for the national financial education certification programme:
First, potential AEMFI member MFIs and other Financial Service Providers (FSPs) shall apply/ express their interest in support in the ILO financial education certification programme with the following commitments and criteria:
► Those partners/MFIs willing to contribute to the national financial inclusion agenda and commit
to integrating financial education as one service package of their MFI’s.
► Those MFIs and FSPs potentially working in geographies affected and hosting large number of forcibly displaced persons.
► MFIs and FSPs committed to support their staff throughout the process of the certification cycle
and should commit financial and operational support to trainers to organize and conduct at least
3 training of beneficiaries to support their certification paths.
► MFIs should sign a commitment letter with AEMFI for continued support of candidate trainers
nominated and assert that the MFI should support trainers in financing and organizing at least
3 training of beneficiaries in the process of certification within 6 months after the TOT.
► Selected MFI should cover the cost of transportation for the TOT training (if they are coming from
Second phase of the selection, the selected MFIs and FSPs shall nominate 2 to3 eligible staff members for the certification program. To be eligible for national certification, a trainer must take part in a training of trainers, expected to occur by December 2023. To do so, the trainer must have acquired prior knowledge of financial education and experience in conducting training courses for adults. More specifically, MFI/candidates for participation in the training of trainers in financial education will be assessed based on the following criteria:
► Proven experience as an adult educator and/or facilitator of participatory activities with the target audience.
► Close links and/or professional experience with the target audience.
► Knowledge of financial education issues and/or knowledge of the Ethiopian finance sector
► Commitment and availability to replicate the training to the final beneficiaries (for example,
clients of the MFIs) for a period of at least 6 months after the training of trainers.
► Have full support from their organization regarding time availability for participating in the
training and certification process, including time for the replication cycles with MFIs clients.
The following aspects will also be assessed:
► Experience in organising training events and/or having institutional support to do so.
► Experience in managing groups and good communication skills
► Experience with other ILO training tools (Making Microfinance Work, GERME, Get Ahead,MyCOOP or others).Interested MFIs/FSPs are requested to submit their application by filling in this Google Form (link) from 23 October to 17 November 2023 . Short-listed candidates from each individual organization will then be requested to complete a Google Form in order to know more about their professional experience and motivation to participate in the training programme.