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Something Doesn’t Add Up: Improving Basic Math Skills Among Microentrepreneurs in Rural India
Running any business requires a basic knowledge of arithmetic. Entrepreneurs need to calculate change due on a sale, profits and loss, commissions on product sales, and interest rates on loans. If they can't, their business will likely struggle. As part of a study to identify whether basic math skills contribute to entrepreneurial success in rural India, Madura Microfinance assessed the numerical capabilities of microentrepreneurs. The results were surprising – and somewhat alarming.
- Categories
- Education, Entrepreneurship
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Centrum Capital to acquire FirstRand Bank’s microfinance business in India
As part of starting up, Centrum Capital has executed a definitive agreement to acquire the Indian microfinance business of South Africa-based FirstRand Bank, which currently has around 70,000 customers in the Maharashtra region and employs over 300 people. This is the second lending business the firm has recently entered, following its entry into affordable housing finance at the end of last year.
- Categories
- Uncategorized
- Region
- South Asia
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Muhammad Yunus: No reason for Grameen Bank operations in India
"In the mean time I suggested (them) to give limited banking license to successful MFIs (microfinance institutions) so that they can take deposits to become financially self- reliant, and expand their operation at a faster speed," he says.
- Categories
- Uncategorized
- Region
- South Asia
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When Failure is Hard to Recognize: Facing Hard Truths about Microfinance
After decades of faith in the ability of tiny loans to transform people’s lives, quantitative research has revealed that microfinance rarely lives up to the hype. But in spite of their lackluster impact, microfinance projects have persisted – the question is, why? After seven years of observing various actors throughout the microfinance value chain, Erin Beck, an assistant professor at the University of Oregon, has an answer. She discusses how policymakers, MFI leaders, employees and even customers contribute to microfinance’s persistence.
- Categories
- Entrepreneurship, Impact Assessment
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Report: Recovery Lending Program Prevents Thousands of African Families from Falling into Extreme Poverty after Climate Shocks
A report released by DFID, World Vision UK and VisionFund International has revealed that an innovative market-based approach was central in building resilience to the El Nino climate shock that impacted East Africa throughout 2016 and early 2017. These findings are critical as climate change continues to impact the world’s most vulnerable communities.
- Categories
- Environment, Finance
- Region
- Sub-Saharan Africa
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Good Intentions Are Not Enough: How Microfinance Can Truly Serve Low-Income Women Entrepreneurs
Smaller businesses require smaller loans, which are generally less practical or profitable for financial institutions. Group lending solves these issues for institutions – but it’s not always ideal for customers, who often prefer an individual loan. With support from MetLife Foundation grantee Women’s World Banking, Egypt’s Lead Foundation set out to design and deliver this type of product – specifically to low-income women entrepreneurs.
- Categories
- Entrepreneurship
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Beyond Microcredit: Why Tackling Poverty Requires More Than a Loan
It's clear that microcredit is not enough to end poverty, say Gary Carrier and Harrison Pharamond of MCE Social Capital. But this does not stop MCE from investing in microfinance institutions. Instead, they maximize the impact of these investments by supporting MFIs in offering “credit-plus services” - additional services that address poverty holistically.
- Categories
- Impact Assessment, Investing
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‘Cross-sell Done Well’: How One Finance App Found a Balance Between Digital and Human Touch
Field officers at the Sajida Foundation, a microfinance provider in Bangladesh, knew their clients had rich financial lives, and that some held sizable savings balances to enable their goals. They also knew these clients could earn more by converting their savings to a term deposit account. Yet it was difficult for them to offer complex financial advice, or to answer questions around tiered interest rates and differentiated products. The Foundation worked with BFA to develop an Android-based app to address these issues – Ashirul Amin discusses the lessons learned.
- Categories
- Finance, Technology
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