Voices from the Field: William Derban

Pathways: financial inclusion to end extreme poverty | Find out what we heard from the industry in this year’s Listening Tour

We’ll be bringing you articles throughout April that reflect the results of this year’s Listening Tour
Photo credit: by Geoff (originally posted to Flickr as Pilgrim’s path) [CC BY 2.0], via Wikimedia Commons

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April is the Month of MicrofinanceLearn more

April is the Month of Microfinance
Learn more

In preparation for our 18th Microcredit Summit, the Campaign conducted a Listening Tour from December 2014 through February 2015. The Listening Tour served two purposes. First, it was our hope to find out how our audience (you) felt about the World Bank’s goal of eradicating poverty by 2030, and equally important, we wished to consult you in identifying the topics that were at the top of everyone’s mind.

The Listening Tour is our time to listen — and your time to speak — on the issues that the microfinance and financial inclusion sector face. We collected your feedback through an online survey and organized conversations with 27 leaders in the microfinance and financial inclusion sector. We heard from them on how financial inclusion can contribute to the goal of ending extreme poverty by 2030 and the role of microfinance in the post-2015 agenda. The results of this consultation will be reflected in the 2015 State of the Campaign Report, the 18th Microcredit Summit, and Campaign Commitments.

Below is a short excerpt from our conversation with Dr. William Derban, director of financial inclusion (CSR & PMO) at Fidelity Bank in Ghana.

Q: What do you think will be needed to achieve the goal of global financial inclusion by 2020 and how can this contribute to the goal of eradicating extreme poverty by 2030?

William DerbanGovernments are trying to create a good environment, and while MFIs and SACCOs have stepped in to fill a gap, it seems banks have been left out. We need to include them [banks], looking at this not as corporate social responsibility, but as an opportunity for businesses to expand their client base and a responsibility that they have to the people. The key question is, “How can microfinance and the financial inclusion sector better partner with banks and help improve their by creating linkages?” This should not be about competition, but a way that we can collaborate to provide financial services that they [clients] can graduate into as part of this value-chain of financial services.

Q: In relation to our host region, what are the challenges and opportunities facing Africa & the Middle East in regards to microfinance and financial inclusion?

We need more awareness and campaigning of the issues especially in the countries most affected by poverty. In Africa, there is a lack of awareness among the poor about the benefits of having formal financial services. There is a need for financial education so that they understand what impact this can really have on their lives. People need to understand that this is not about financial services for the sake of it, but that a bank account can help you manage your finances and it can serve as a safe place to save for your child’s educations and this can all help you live a better life. In this way, financial education can create empowerment and change.

Q: What are key themes to consider or important debate topics we need to address in the microfinance & financial inclusion sector in the coming year?

Innovation is key! We cannot get to full financial inclusion without technology, but we need to actually develop new ideas and not just replicate what may have worked in one specific country or environment. When innovating in mobile technology, we cannot just work with telecommunications companies but need to include mobile phone manufacturers, app developers, and retail shops. We must find a way to ensure that the public is educated on new innovations and make sure they learn how to use this new technology.

We also need to find ways to scale down or “bank downwards” where banks work on a model that works for the poor. However, we need to create the appropriate partnership in order to do this. Banks can decide to “scale down” [i.e., target poorer populations], but if they do it by themselves, there are certain services they won’t be able to provide.

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About Fidelity Bank

Corporate social responsibility (CSR) lies at the heart of the vision and mission of Fidelity Bank, Ghana’s largest private indigenous bank. Since inception, CSR at Fidelity has mostly focused on philanthropic endeavors, but now, as a bank that is consolidating its world class status, it has become imperative to align our CSR with our corporate strategy, allowing us to leverage our collective expertise and resources for maximum impact.

Under the theme “Building Lives through Finance,” Fidelity’s CSR work is being led by the director for financial inclusion and CSR, Dr. William Derban. Dr. Derban’s areas of focus are microfinance, payment services, and running the first agency banking service in the country. He is also responsible for aligning the Bank’s corporate responsibility strategy to its core business strategy. In the past 14 years, he has focused on providing sustainable, market based, financial services to the unbanked within the financial industry in Africa, Europe, and the Middle East. Dr. Derban earned his doctorate in Microfinance and Development Finance from the Nottingham Business School, UK. He provides lectures on sustainability and financial inclusion and is also a passionate speaker at various conferences on development across Africa, the Middle East, and Europe. Prior to working for Fidelity Bank, Dr. Derban was the head of community relations with Barclays Africa and Emerging Markets where he managed the community investment strategy across 14 countries in Africa, the Middle East, and Asia. Subsequently, he led the strategy of downscaling to informal groups with a £10m project working with savings groups across Africa, Asia, and Latin America with CARE international and Plan. In addition to financial inclusion, he has established successful projects on youth entrepreneurship, preventative health, clean energy solutions, female empowerment, and integrated rural development programs.

Learn more about Fidelity Bank.