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85bn Cedis Micro-Credit For Rural Poor
The government has channelled ?85 billion (approx US$9.4 million) through the rural banks for lending as micro-credit to the economically active but poor in the rural areas for them to improve the quality of their lives. The Vice- President, Alhaji Aliu Mahama, announce...
- Region
- Sub-Saharan Africa
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Cisco Systems Sees Massive Potential in Developing World
Many African governments were beginning to spend heavily on telecommunications networks, seeing them as a platform through which to connect communities and start to challenge poverty. Two problems were how Cisco could penetrate so many countries, and the shortage of skills to support its technologies. Networking company Cisco Systems expects to sustain annual growth of 10%-15% for the next few years as the volume of traffic carried on global networks surge...
- Region
- Sub-Saharan Africa
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Opportunity International to develop a trans-African network of new commercial banks for the poor
Opportunity International’s efforts in Malawi and Mozambique will provide thousands of poor Africans with financial tools to rise out of poverty and will demonstrate that rural Africa is a viable market for microfinance. Opportunity International, one of the world’s largest microfinance organizations, today announced that it received a $2.2 million grant over three years from the Bill and Melinda Gates Foundation that will go toward a project to develop a...
- Region
- Sub-Saharan Africa
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St. Jude Empowers 180,000 Farmers With Organic Skills
ST. JUDE Family Projects is training farmers in modern Integrated Organic Farming (IOF). For the past 12 years, the project has equipped more than 180,000 farmers with skills in IOF. Integrated Organic Farming is a process of harmonious co-existence between the various components on a farm - plants, animals, water and soils. Each component contributes directly or indirectly to the other. The centre, located at Busense, Kabonera sub-county in Bukoto Central, Masaka distric...
- Region
- Sub-Saharan Africa
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Malawi Pilots Drought Insurance Coverage With Local Farmers
Malawi has introduced an innovative pilot drought insurance program for local groundnut farmers that will help them mitigate the risks associated with periodic droughts. The insurance will help farmers obtain financing necessary to obtain certified seeds, which produce increased yields and revenues as well as greater resistance to disease. The program is currently being utilized through the pilot program by nearly 900 farmers in four areas and, if successful, can be scaled up to other crops and...
- Region
- Sub-Saharan Africa
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Microcredit Turns into Major Headache in Kenya
The power of microcredit to pull people out of destitution has been celebrated around the world during 2005, designated the International Year of Microcredit by the United Nations. In Kenya, however, the concept of microcredit risks losing its bloom. This follows concerns about a number of self-described microfinance institutions that have sprung up across the country over recent years, and which seem more intent on exploiting their clients than helping them work their wa...
- Region
- Sub-Saharan Africa
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Bank Throws Lifeline to Africa’s Private Sector
Jonathan Katzenellenbogen Mumbai In a massive boost to Africa’s private sector, the International Finance Corporation (IFC), the World Bank arm that finances companies, is to almost treble its support on the continent over the next five years to more than $1bn a year. The expansion in financing to the continent will involve a doubling in IFC financing for projects in SA over the next year to about $200m. Part of the IFC’s unfolding plan is for it to play a fa...
- Region
- Sub-Saharan Africa
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Grameen Foundation USA Releases Village Phone Replication Manual
First Manual to Provide a Proven Model for Establishing Telecommunication Access in Poor, Rural Communities through Microfinance The Village Phone program partners microfinance institutions with telecommunications providers to offer both microenterprise opportunities to the very poor in rural regions, as well as provide the entire community access to telecommunications that are generally unavailable. (CSRwire) Washington, D.C. - Grameen Foundation USA (GFUS...
- Region
- Sub-Saharan Africa