Lesotho: Supporting Women and Youth in Enterprise Development

FSVC and Democracy Works Foundation’s roundtable to support women and youth in enterprise development,

Maseru, Lesotho. January 2024

Under this program, in Lesotho, FSVC and Democracy Works Foundation recently organized a public-private roundtable that brought together government officials, CSOs and businesses to address challenges hindering support services for women and youth in enterprise development. Discussions highlighted challenges such as insufficient funding, limited dissemination of business development information, and the necessity for policies to bolster anti-corruption efforts. Participants also explored potential reforms to regulatory, policy and PFM frameworks that could promote a more inclusive, responsive and corruption-free business environment.

Through this dialogue, participants gained a deeper understanding of the challenges and opportunities in enterprise development support for marginalized groups, and identified practical actions needed to promote equitable development in the country.

FSVC will build on this activity in coming months to continue to foster greater government transparency, accountability and effectiveness in Lesotho and the wider region.  

Tajikistan: Introducing Fintech Products

FSVC training for commercial banks and microfinance institutions in fintech risk identification and management in Dushanbe, Tajikistan. March 2024

Few adults in Tajikistan hold formal financial accounts, partly due to limited product range, quality and accessibility. To tackle these challenges, FSVC has been building the capacity of local financial institutions to understand client needs and offer improved products, while managing associated risks. E-banking solutions and digital financial services, in particular, are increasingly in demand. Tajik banks requested FSVC’s assistance in how to introduce new digital services, and assess and mitigate the associated risks. 

In response, FSVC recently delivered a training in Dushanbe for commercial banks and microfinance institutions in fintech risk identification and management. FSVC volunteer experts led highly interactive training sessions with practical exercises, including building a product, implementing risk management frameworks in practice, and developing crisis management policies and procedures.

As a result of this initiative, local financial institutions now have enhanced policies and procedures to introduce fintech products safely, and better meet the needs of current and potential clients. FSVC looks forward to continuing this important initiative in Tajikistan.

Angola: Improving Auditing of Government Institutions

FSVC training for Supreme Audit Institution auditors, officials from the Ministry of Finance and prosecutors on financial auditing international standards in Luanda, Angola. February 2024

To help them do so, FSVC recently conducted a training on these standards for SAI auditors, officials from the Ministry of Finance and prosecutors in Angola. Led by FSVC experts, the training provided an overview of the International Organization of Supreme Audit Institutions (INTOSAI)’s Framework of Professional Pronouncements and fundamental principles of public sector auditing. Subsequent sessions focused on audit planning, pre-engagement communication and understanding internal controls within audited entities. As a result of this training, participants gained a better understanding of financial auditing standards, were exposed to successful regional case studies, and enhanced their knowledge in audit planning and risk assessment.

Thanks to support from USAID/Southern Africa, FSVC will build on these efforts to continue to enhance the capacity of key institutions in Angola to combat corruption, and promote greater transparency and accountability within government institutions.