Webinar recap: Is it too late for microfinance to be pro poor?

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https://www.youtube.com/watch?v=mh6iw8-lbKE&feature=youtu.be
On April 21st, the Microcredit Summit Campaign co-hosted with Uplift a webinar discussion focusing on the promise that graduation holds for sustainably reaching the ultra-poor. Our featured speakers were Debasish Ray Chaudhuri, CEO of Bandhan Konnagar in India, Rachel Proefke, a research associate with BRAC Uganda, Mark Daniels, the Philippines director for Opportunity International, and Allison Duncan, CEO of Amplifier Strategies and founder of Uplift. Anne Hastings, a global advocate with Uplift, moderated the webinar.

The conversation looked closely at the experiences that each of the three practitioners on the panel have had in implementing the program as well as the global advocacy message supporting the graduation approach being delivered by Uplift and its allies.

We hope you will get engaged with this promising avenue for reaching those living in ultra-poverty and be inspired by the potential it holds for helping microfinance institutions to reconnect to their original purpose. Some final thoughts from speakers on the webinar follow.

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Oradian’s innovative cloud system in West Africa empowers the microfinance community

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Oradian customers
>>Authored by Vedrana Legovic, marketing and communications officer of Oradian

Last month, we travelled to Abu Dhabi for the 18th Microcredit Summit, which hosted a number of microfinance and financial inclusion experts from around the world. The summit explored new and effective ways in advancing financial inclusion and featured successes in Africa and the Middle East. One of those success stories is certainly that of Oradian, and we are honoured that the Microcredit Summit Campaign recognised the impact of our work in West Africa. By using our latest cloud-based technology, services, and domain expertise in that region, we increase efficiency and effectiveness of microfinance institutions (MFIs).

We had the opportunity to attend inspiring plenary and breakout sessions and be a part of the arena where so many great ideas were shared. Oradian’s co-founder and managing director, Antonio Separovic, spoke at the “Innovative Products and Services for Financial Inclusion” panel. Oradian creates technology (SaaS software) for MFIs. With our technology, we remove complexity, empower our users, and enable their growth because most of them still use pen and paper.

Antonio discussed Oradian’s experience in enabling ‪‎ MFIs to advance financial inclusion by using our innovative technology. More specifically, he shared our story about empowering microfinance communities in some of the most remote rural areas in Nigeria, our core market, where we have had impressive results with local MFIs in applying our multi-award winning software, Instafin, to their operations.‬‬‬‬‬‬‬

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Video Corner | Shazia Abbas on microfinance creating entrepreneurs

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Shazia Abbas of Micro Options (Pakistan) discusses her organization, the role of microfinance to help end poverty, and the lessons learned at the 18th Microcredit Summit with Miranda Beshara, editor of the Arabic Microfinance Gateway. Micro Options provides microcredit services for agriculture, livestock, and alternative energy (i.e., solar and bio-gas), combining access to capital with skills training with a focus on women and youth.

Abbas says that the Summit is a great forum and the biggest networking event for the region and globally. On her experience in Abu Dhabi, she appreciates “learning how other people are doing this work differently, and especially the opportunities we can leverage. That was wonderful. Every session is very important, and I was confused which to pick and not to pick,” Abbas adds with a chuckle. “I will definitely take some learning that I can cooperate at my organization so that we can deliver even better.”

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Video Corner | Lev Plaves of Kiva on measuring impact

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Lev Plaves of KIVA talks with Miranda Beshara, editor of the Arabic Microfinance Gateway, about what he was most excited to learn about at the 18th Microcredit Summit. “What we are most excited about is how much discussion there was at the Summit about how different stakeholders — whether investors or practitioners — are really working to improve how we’re measuring impact,” Plaves says. “That was really great to see, and I am excited to see moving forward how that plays out in terms of people working to really increase how we are quantifying the outcomes we are having as an industry.”

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Sohelia Haque: MFIs better serve the poor than traditional banks

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Sohelia Naznin Haque of Society for Development Initiatives (Bangladesh) discusses the role of microfinance to help end poverty and the lessons learned at the 18th Microcredit Summit with Miranda Beshara, editor of the Arabic Microfinance Gateway.

Haque echoed Dr. Muhammed Yunus, supporting the goals of zero poverty, zero unemployment, and financial inclusion through technological advancement. She explains how SDI reaches the poor in a way that big banks do not, going to their homes and visiting rural areas.

“We go to them, think about or listen to their demands, needs, motives, drives. According to that, we make our microfinance products and try fulfill their demands,” said Haque. “[Commercial] banks’ interest rates are too high, but our interest rates are not too high according to the demand we provide them.”

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Muhammad Yunus: A new economic theory of selflessness

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Social biz plenary_GWaly, Yunus
Ghada Waly, Egypt’s Minister of Social Solidarity, and Nobel laureate, Muhammad Yunus, founder of Grameen Bank and the “father of microfinance,” got into a heated debate about the whole thesis of economic theory. The two distinguished speakers were on the panel for the “Scaling Business Models for Social Impact” plenary at the 18th Microcredit Summit (March 14-17 in Abu Dhabi).

Businesses have the ability to scale, delivering products and services on a global basis by providing for the needs and desires of their customers. But, the business focus on maximizing profits often lead limited attention to social challenges. Nonprofits have shown the ability to address a large variety of social problems, but the need to raise funds from donors often limits their ability to scale to the level of the problems they seek to address. Social businesses combine these two organizational models, using the power of business to solve some of the world’s most pressing social problems.

Minister Waly argued at the end of the session that businesses contribute to the well-being of society and to ending poverty — whether they do CSR or have a social mission or not — simply by creating jobs, paying taxes, and so on.

“Those companies that do not even do CSR [corporate social responsibility] but provide a service that is needed for society. Be it a pharmaceutical company or garment company, if they employ people, pay them fairly, and create jobs, this is good enough and this is very much needed. So you need everything.”

Prof. Yunus countered that human beings are both selfish and selfless, and the business world and economics can be structured to lift up the selfless side of human nature.

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Muhammad Zubair Mughal: Islamic microfinance is for everyone

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Muhammad Zubair Mughal of Al Huda Center of Islamic Banking and Economics attended his first Microcredit Summit. He discusses Islamic microfinance, the role of microfinance to help end poverty and the lessons learned at the 18th Microcredit Summit with Miranda Beshara, editor of the Arabic Microfinance Gateway. Mughal learned from the Summit about different techniques for poverty alleviation. Specifically, he appreciates the focus on financial education, insurance, and integrating health service.

Al Huda is dedicated to developing Islamic microfinance, poverty alleviation, and social development. “There is a misconception that Islamic microfinance is only for Muslims,” said Mughal. “No. Islamic microfinance is a system which can be utilized by Muslims and non-Muslims for poverty alleviation and social development,” Mughal concludes.

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Bdour Alhyari: Enabling the poor to participate in development

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18th Microcredit Summit Video Corner Interview Series

Bdour Alhyari, business development manager for Microfund for Women in Jordan, interviewed by Miranda Beshara, editor of the Arabic Microfinance Gateway.


Bdour Alhyari of Microfund for Women (Jordan) talks with Miranda Beshara, editor of the Arabic Microfinance Gateway, at the 18th Microcredit Summit. Microfund for Women launched a Campaign Commitment in 2015. Commitments are specific, measurable, and time-bound actions organizations take to support the Campaign goal to help 100 Million families lift themselves out of extreme poverty. “It is in our mission to enable and empower women at so many levels,” says Alhyari. “We thought we need to be part of this Campaign and commit to act, encourage others to commit to act.” (Learn more here.)

Microfinance plays “a great role” to help end poverty, says Alyhari, because it enables the financially excluded to gain access to the financial system. “Eighty percent [of the world’s population] are not allowed to access finance. Microfinance provides them with financial resources to enable them to participate in the development of societies, of communities. They [beneficiaries and clients] take the money. They create businesses, they continue their learning, their education, to enable them to be part of the development cycle. Gradually this will help to better livelihoods.”

Finally, Alhyari reflects on her time at the 18th Microcredit Summit. “The Summit has brought so many different expertise from different parts of the world,” she says. “We have shown our experience in microinsurance [and], providing the caregiver program, and we heard about other examples in microinsurance, green energy, and so many other topics, [such as] youth. It was a good platform to have this exchange to look at the expertise of each other and learn from it.”

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Research on Ecuador’s digital platform to be featured at 18th Microcredit Summit

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technologyinfographic
The Microcredit Summit Campaign, as part of its 6 Pathways, is helping to highlight ways that digital platforms are helping to expand financial inclusion, especially for the extreme poor. We are pleased to share with you this Executive Summary of their research.

At the 18th Microcredit Summit this research will be included in the breakout session “The Digital Revolution and Financial Inclusion.” We hope to see you there!


>> Authored by Jorge Moncayo and Marcos Reis.

Financial systems have a vital role in national economies. They provide savings, credit, payment, and risk management products to society. In this sense, inclusive financial systems — those with a high share of individuals and firms that use financial services — are especially likely to benefit poor people and other disadvantaged groups. On the contrary, poor people must rely on their limited savings to invest in their education or become entrepreneurs. In addition, small enterprises must rely on their limited earnings to pursue promising growth opportunities (Demirguc-Kunt and Klapper, 2012).

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Grameen Fdn expands our knowledge on poverty measurement

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Photo credit: Grameen Foundation
We are pleased to post an update from Grameen Foundation about the Campaign Commitment that they launched in 2014. Focused on supporting the growth of the use of a very effective poverty measurement tool, the PPI®, their Commitment also underscores the importance of using the data from tools like this in helping to improve the way we support and serve those living in poverty.

You can learn first-hand how such tools can be used, not just to prove that you are reaching the extreme poor, but to improve the services that you offer and the way you interact with the extreme poor. We are organizing a breakout session at the 18th Microcredit Summit called “Innovations in Measuring Social Impact.” Learn more and register today!


>> Authored by Julie Peachey, Grameen Foundation

In early 2014, Grameen Foundation made several commitments, as part of the Microcredit Summit Campaign’s 100 Million Project, towards achievement of the collective goal of helping 100 million families escape poverty. Our commitments focused on demonstrating use of the Progress out of Poverty Index® (PPI®) for measuring household-level poverty, because reaching and lifting people out of poverty requires knowing who is actually poor.

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microPension Foundation to advance pension and social security inclusion

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Micro Pension Foundation co-hosts a financial counselling session at Sullimula Paniya tribal village (India). Photo courtesy of Micro Pension Foundation — Read the press release announcing Micro Pension Fondation’s Campaign Commitment (the link connects to the ESAF press release) — Read their Commitment letter (the link connects to the ESAF letter) —Watch the recording of the E-workshop co-hosted with the Center for Financial Inclusion, Micro Pension Foundation and HelpAge International, (hyperlink https://www.youtube.com/watch?v=gFzTaAlc7To)
The Microcredit Summit Campaign welcomes microPension Foundation (mPF) as the 58th organization to make a Campaign Commitment. mPF commits to provide an integrated, contributions-led micropension solutions for 25,000 domestic help workers in India and work to further social security inclusion for low-income informal sector workers. With this Commitment, mPF joins a global coalition to help 100 million families lift themselves out of extreme poverty.

The non-profit mPF is a specialized pension and social security inclusion R&D hub established in 2012 through an inception grant from VISA, Inc. mPF develops, field-tests, and mainstreams innovative and scalable technology-led solutions to enable secure, convenient, and affordable access to contributory pension and social security programs by low-income unbanked workers.

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5 lessons on expanding financial inclusion and usage

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Source Source: The 2015 Brookings Financial and Digital Inclusion Project Report: Measuring Progress on Financial Access and Usage.

>>Authored by Mbaye Niane, 100 Million Project intern

The Center for Technology Innovation (CTI) at the Brookings Institute recently published the 2015 Brookings Financial and Digital Inclusion Project (FDIP) Report and Scorecard. It evaluates access to and usage of affordable financial services across 21 different countries in Africa, Asia, and Latin America.

These countries are geographically, economically, and politically very diverse, but many of their citizens share a common experience of being excluded from formal financial services. Governments from these 21 countries [1] have made a commitment to achieve financial inclusion by improving access to and usage of appropriate, affordable, and accessible financial services. At the Microcredit Summit Campaign, we are mobilizing commitments from private sector actors as well as governments to expand access to and usage of just such high quality financial — as well as non-financial — services.

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Better health for every woman and every child in the Philippines

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HMHB videoThe maternal mortality rate in the Philippines is among the highest in Southeast Asia. To help improve maternal health in the Philippines, three development institutions have come together to implement the Healthy Mothers, Healthy Babies: Kalinga kay Inay Project.

More than 800,000 women have received vital information to ensure healthy pregnancies, and thousands more will. At community health fairs like you see in the short video above, thousands of women have received free OB/GYN consultations, have signed up for the national health insurance, PhilHealth, and have received free prenatal vitamins. We’re reaching for better health for every woman and every child. Join us.

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Insufficient and greatly uneven progress on the maternal health MDG

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>>Authored by Marion Cosquer and Sabina Rogers

MDG 5: Improve maternal health

Target 5.A: Reduce by three quarters, between 1990 and 2015, the maternal mortality ratio

In 1990, 380 pregnant women were dying for every 100,000 live births. As of 2013, the global maternal mortality ratio has decreased by 45 percent to 210 women per 100,000 live births. The highest gains were seen in South and Southeast Asia with a 64 percent and 57 percent reduction, respectively. Developing regions overall achieved a 46 percent reduction. Maternal survival has been aided by a one-third increase in childbirth attendance by skilled health personnel. Thus, the news in the U.N. Millennium Development Goals Report for MDG 5 is promising.

Nonetheless, progress towards improving maternal health so far falls far short of the targets set under MDG 5 and has lagged far behind the other MDGs. Additionally, global figures tend to mask regional inequalities. For example, there were 510 maternal deaths per 100,000 live births in sub-Saharan Africa compared to 190 in South Asia and 140 in Southeast Asia.

Progress in raising the proportion of births delivered with skilled personnel has been modest over the last 15 years, reflecting the lack of universal access to care. Indeed, one in four babies still being delivered without skilled personnel and wide disparities are found among regions. For example, there is a 52 percent spread between the largest rural/urban disparity across regions:

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Post MDG-4: Integrating health services to reduce child mortality

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UFMR map of world 2015_UNICEF
The United Nations recently issued The Millennium Development Goals Report, 2015, the latest assessment of progress towards the eight MDGs. In short, they have had mixed results. This article is part of a blog series reflecting on the MDGs and the U.N. report. These are produced in partnership with our colleagues at RESULTS.


>>Authored by Carley Tucker and Sabina Rogers

MDG 4: Reduce child mortality

Target 4.A: Reduce by two-thirds, between 1990 and 2015, the under-five mortality rate

The numbers appear heartening. According to the latest assessment on the Millennium Development Goals (MDGs), deaths of infants and children under five have greatly reduced. The under-five mortality rate has declined by more than half, from 90 to 43 deaths per 1000 births. Moreover, the annual rate of reduction in child deaths has more than doubled since 1990, and the rate has accelerated the most in Africa.

We learn that 4 out of every 5 of children have received at least one dose of the measles vaccine, preventing 15.6 million deaths between 2000 and 2013. In all, some 48 million children under five are alive today because of smart investments and increasing access to cost-effective health programs over the last 15 years.

This is good news for children around the world; however, underlying these advances is news that the achievements are not equitably distributed regionally, between rural and urban areas, nor socioeconomically.

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