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Foreign Aid Fails Poor Countries — Economic Freedom is Key
Once greater economic freedom is taken into account, poor nations, far from being caught in a poverty trap, grow faster than rich nations. What the research in this edition of Economic Freedom of the World suggests is that economic freedom, rather than foreign aid, does have a powerful positive impact and is a better approach, says co-author of the report, James Gwartney, professor of economics at Florida State University. Economic freedom is unambiguousl...
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?The most preferred exit option for SMEs would be through an IPO?
What is the investment philosophy you follow while investing in SMEs? Our investment objective is to identify high-growth sectors with global competencies, select rapidly growing companies within these sectors having sound management and proven, sustainable and scalable business models. We take up significant minority stakes in these companies so as to have a board seat representation to participate proactively in the value building process of these companies over a period of 3 to 5 y...
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Rural life insurance rules to be tightened
Comparatively high premiums, inflexible payment terms and incomprehensible policy clauses are the major problems, said Zhou Fuping, a researcher at the CIRC, adding most insurers made little or even no changes to policies in rural areas. To give farmers more choices, insurers are encouraged to offer more affordable policies and easy to understand clauses when entering the rural market, said Gong. We will soon embark on a pilot programme that differentiate...
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Bra Straps Bootstrap Fair-Trade Business
The operation began last summer, when Styles asked her sister-in-law in Cali, Colombia, to help fix a fashion flub - bra straps that show under tank tops and other shoulder-baring shirts. A master of beadwork, the woman took a half-hour to make two, adjustable beaded straps that could be attached to a strapless bra with built-in tabs. The straps are meant to be shown. Styles had been haunted by Colombia’s poverty for years. In Cali, a city of 1.6 milli...
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Unitus Equity Fund L.P. Invests $1,000,000 in Credex
We’re delighted to be the Unitus Equity Fund’s first investment in Mexico, said Credex Founder and CEO Eduardo Gallardo. Since we started in 2002 Credex has achieved tremendous growth. With the Fund’s investment, we’re in a position to finalize the implementation of our new microfinance methodology and provide financial services to even more of Mexico’s working poor and underserved population. That we can attract international financing such as the Unitus Eq...
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Microfinance: What Role for Commercial Banks?
In a new report, Microfinance: What Role for Commercial Banks?, Celent analyzes the microfinance industry and provides detailed information on microfinance stakeholders. Better know-how, technology, greater access to funds, and enhanced capacity make commercial banks the most qualified to meet the untapped demand of microentrepreneurs. Profitability, diversification of products and services, and outreach can be done more quickly using new information and com...
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Bangladeshi who founded bank for poor wins peace prize
Yunus, dubbed Banker to the Poor, began fighting poverty during a 1974 famine in Bangladesh. He set up a small bank, Grameen Bank, to give them access to credit. Yunus is the developer and founder of the concept of microcredit for entrepreneurs too poor to qualify for traditional bank loans. The Bangladeshi who established a bank for the poor has been named winner of the eighth Seoul Peace Prize. The biennial prize of 200,000 dollars, awarded to M...
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Nigeria: Govt, Not Business, Can Deliver Services – Oxfam
Only governments can effectively deliver services like health and education to the poorest, development group Oxfam said in a report yesterday critical of groups like the World Bank for hindering poverty programs by pushing private-sector solutions. The report comes a year after industrial nations pledged to double aid to poor countries by 2010, and donors and development groups look closer at how aid can be made more effective in fighting poverty. Only government...
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