Financial and social projections with Microvision in times of pandemic: ALIDé in Benin shares its experience
Microvision is a standard tool developed by Microfact for the preparation of financial and social projections of small and medium-sized microfinance institutions (MFIs).
In a context of crisis such as the Covid-19, having a simple tool to review quickly their projections has been fundamental for many microfinance institutions. This is why Microfact has developed a dedicated Technical Assistance (TA) to enable MFIs to use Microvision. During the year 2020, 45 MFIs have benefited from this assistance, provided by the Microfact pool of certified consultants.
Among them, ALIDé from Benin, with whom we conducted a short interview.
Interview with Mr. Jacques TCHEKOUNOU, Marketing and Operations Manager at ALIDé
How has your MFI had to adapt to the Covid-19 crisis?
Faced with the pandemic, governments and major international organizations made decisions to slow the spread of the virus and control the situation. In Benin, several restrictive measures were taken by the government. These measures, together with the direct consequences of the pandemic, have had a strong impact on our institution. To deal with this, we first conducted a diagnosis of ALIDé's situation by setting up a crisis management committee to analyse the critical activities. Secondly, measures relating to the crisis management and business continuity plan were put in place.
How did you hear about Microvision and why did you request a technical
assistance for the use of the tool?
In this context, we had to plan ahead the activities of our crisis management strategy in order to be able to continue to operate. In this period of total uncertainty, we necessarily needed a reference, a quantitative objective to move forward and control everything that was controllable. As we had no experience in this area, we addressed our concerns to ADA who proposed to accompany us with the Microvision tool and the related technical assistance.
Following the received technical assistance, what are your impressions?
What did you appreciate the most?
The technical assistance consisted of providing our institution with a relevant and modern tool for projecting activities and enabling us to use it autonomously in any situation (crisis situation or not), including a development of our three-year business plan.
The technical assistance took place by videoconference, between October and November 2020, over six sessions, including:
- Training on the use of Microvision tool
- Customized explanations on the different sections of the tool
- Coaching for the elaboration of the projection of ALIDé's activities.
We really appreciated the content of the tool and the coaching.
What do you think of Microvision?
Microvision is a modern tool for financial and social projections that is perfectly adapted for microfinance institutions. It is a tool that encompasses all areas of costs and revenues of the institution. It is, therefore, very practical because it is not only consistent but also an excellent guide for making projections.
Do you plan to use Microvision in the future?
Yes, we do. We will use Microvision for the development of our next three-year business plan for the years 2022-2024.