STEP 2B
Once this core set of stakeholders is identified, they work together to form consensus on the high-level strategic framework of the Code’s national program. A simple way to build consensus is for the National Champion(s) to convene a workshop with the National Coalition members to walk through design choices and agree on the path forward. Getting feedback from the broader Coalition generates buy-in and helps align interests and capabilities of stakeholders. One or two meetings are sufficient to address three key elements:
WHY: Articulate what high level goals and impact the Code aspires to achieve in 1, 3 and 5 years
WHO: Agree on responsibilities for the Code’s three key roles: National Coalition, National Coordinator, and National Aggregator
WHAT: Determine key design choices for the Code, including types of FSPs to recruit; core indicators to define and collect, key incentives for participation, the process for aggregating data and reporting commitments, and mechanisms for peer learning and sharing best practices
HOW: Develop an action plan with timelines, milestones, and goals for launching and implementing the Code
In the spirit of a multi-stakeholder coalition, it helps to distribute responsibilities, where possible, by creating working groups, assigning responsibilities across coalition members, and pooling resources.Working groups can be a particularly effective approach for topics that require deeper expertise and participants from outside the National Coalition. Some examples include the following:
▷ A Data Working Group made up of IT/business intelligence representatives from the financial services sector can help create reporting templates.
▷ An NFS Working Group can help Code signatories share best practices on non-financial support to WMSMEs, such as training and networking opportunities.
▷ A sector-specific working group, such as Fintech Working Group or VC Working Group, can help tailor the Code commitments to the sector’s needs.
▷ A Code Coordination Group can ensure coordination, learning and facilitate collaboration and reinforcing incentives around the Code.
