View allAll Photos Tagged microfinance
Women collaborate to weave ornate garlands from fresh flowers. The business was created with a microloan from Mahasemam and now employs seven family members. Madurai, India.
Curious Iguana - a new independent bookstore in downtown Frederick - opened on Saturday, September 7, 2013
INDIA: Despite Fears of a Bubble, Microfinance Needed for Growth.
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BHUBANESWAR, India, Jun 10, 2011 (IPS) - Sambari Naik never went to school and is determined to give her daughter Rebati an education. But 13-year-old Rebati seldom did well in her studies, often dozing over her books beside a flickering and smoky kerosene wick lamp in their house, which had no electricity..
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Bakery in Samarkand, Uzbekistan. The bakery was assisted by an ADB-supported $50 million microcredit project.
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Bakery in Samarkand, Uzbekistan. The bakery was assisted by an ADB-supported $50 million microcredit project.
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The Mikroelectronika is a shop in Samarkand, Uzbekistan. It was assisted by an ADB-supported $50 million Small and Microfinance Development Project.
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An explanation of the Indian system of arranged marriage holds the attention of microfinance researchers from the University of Iowa.
Chennai, India.
Janice Giraldo, a University of Iowa researcher, receives a mendhi tattoo from Mrs. V.S. Rajalakshmi in Chennai, India on December 30, 2006. Rajalakshmi opened her business manufacuring mendhi cones with a microfinance loan from Mahasemam Trust.
This will be at the foot of our stairs for the time being. It is a great place for catching up with friends who are now living independently.
Members of Kagora Women’s Group, prepare fish fillet dishes to be sold in their neighbourhood for extra income.
The Microfinance Expansion Project will support the further development of the microfinance sector in Papua New Guinea.
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Women prepare appalam at "Cow Brand", a business begun with a microloan from Mahasemam Trust. Appalam is a thin, crisp preparation (sometimes described as a cracker) typically served as an accompaniment to a meal in India. (Chennai)
Khadija's candle making business has been extremely successful, and continues to grow. She now experiments with using perfumes and natural elements such as rose petals in her products.
"I am really satisfied in my life and I think I am good successful women, I am happy in my life.
"I am feeling very good that I am making money with my own hands and my work is very good for my children.
"Thirty years of war has made Afghans very poor and they are not able to give each other loans so this Ariana loan system really helps us a lot."
UKaid from the Department for International Development is supporting the microfinance scheme that is helping Khadija lift herself out of poverty. To find out more, visit: www.dfid.gov.uk/afghanistan
Image © Development Pictures / Department for International Development
Aerial shot of the piggery farm in Central Province, Papua New Guinea.
The Microfinance Expansion Project will support the further development of the microfinance sector in Papua New Guinea.
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A cobbler forms a dress shoe at his home in Chennai, India on December 30, 2006. Shoemaking ranks 40th on Mahasemam's list of most frequent microfinance business proposal submissions. The most common submission: Dairy Cow.
DFID has given £40.5 million over six years to the Microfinance Investment and Support Facility for Afghanistan (MISFA) to help poor people start and invest in small businesses.
Tahira (right) is one beneficiary of a £30 loan from Ariana Microfinance to boost her carpet-weaving business.
To find out more about how the UK and DFID are working in Afghanistan, please visit: www.dfid.gov.uk/afghanistan
A mother holds her child at a Mahasemam group meeting in Chennai, India on December 30, 2006. Many MFI's (Microfinance Institutions) lend exclusively to women entrepreneurs, as research has shown this translates into greater benefit for the entire family.
Weekly payments are submitted at center meetings. A Mahasemam center is comprised of 50 women from a condensed geographic area, usually not more than four city blocks.
On Monday, April 29, 2013 the Center for International Financial Services and Markets of the Frank G. Zarb School of Business and the Hofstra Cultural Center held a conference titled IMPACT INVESTING: From Private Equity to Microfinance.
Impact investing continues to increase in popularity as investors demand that companies focus on long-range sustainability and strong corporate governance. During stock selection, asset managers are increasingly examining the environmental, social and governance records of companies. Corporate managers are expending resources to enhance their social responsibility reports, thereby highlighting their commitment to sustainable growth. This conference features a range of experts who will discuss recent trends in impact investing and its influence on corporate behavior and the social environment.
Conference Agenda:
Executive Luncheon Speaker
Kai-Yan Lee, Chief U.S. Representative, China Vanke Ltd.
Impact Investing: Corporate, Regulatory and Academic
Lauren Koopman, Director, U.S. Sustainable Business Solutions, PricewaterhouseCoopers LLP
Lydia Doll, Senior Associate, Corporate Responsibility, NYSE Euronext
Abigail Noble, Investors Industries, World Economic Forum
Impact Investing: Microfinance and Outreach
Timothy Ogden, Managing Director, Financial Access Initiative, NYU
Amy Feldman, Director of Programs, Business Outreach Center Network
Timothy Rudd, Research Associate, MDRC
Scott Budde, CEO, Better Harvest Federal Credit Union
Special Address by the Joseph G. Astman Distinguished
Conference Scholar: Media Coverage of Microfinance in India
Paranjoy Thakurta, Journalist and Television Anchor, “India Talks”
Keynote Dinner Speaker
Vincent Molinari, Founder and CEO, Gate Technologies
We would like to sincerely thank Broadridge Financial Solutions, Inc. for sponsoring this conference.
Children play in Mchinji, Malawi as a local business woman tells her microfinance story for a MicroFlicks film from VisionFund and World Vision. Business owner, farmer, grandmother to six children, and microfinance entrepreneur, Ifgenia has had her share of struggles. Born in the 1950’s, Ifgenia went to school and had dreams of going to college and getting a business degree. She was discouraged from this by her family, dropped out of school and married young.
In 2002 she was hit by a car. After 11 months in the hospital, Ifgenia hobbled out on crutches forbidding her to be able to do any sort of strenuous physical activity ever again.
Unfortunately, death of family is an all too often experience for Ifgenia. Her husband passed away of heart problems. Her son and two daughters also passed away leaving Ifgenia with five orphans to care for -- and she does so with love, faith, and provision. Raphael (9 years old), Jackson (7 years old), Binati (6 years old), Tebwala (6 years old), and Ephraim (2 years old) depend on their grandmother for everything -- food, shelter, clothing, and the opportunity to gain an education.
Ifgenia's life was a struggle with the burden of caring for five small children with a disability. A "headache" as she described it, having to find odd-end jobs to make money for a week at a time. Her cousin told her about VisionFund; that if she and some other women in her village were determined, they could get together and call the advisers of VisionFund who could help them.
Ifgenia received her first loan of 20,000 Kwacha ($500 USD) which she used to buy seeds, fertiliser, and tools to start her own farming business. Soon her business called for more. She repaid her first loan and drew a second one this time using the money to purchase a bike and a cow giving her milk to sell and a mode of transportation for a neighbor or one of her grandchildren to ride to the market for her. A third loan was later taken out and now Ifgenia also has a small number of piglets.
The money she has gained by being able to sell extra crops, milk, and pigs at the market is used to send her grandchildren to school -- a cost of approximately 15,000-135,000 Kwacha a year. I asked her what her dream is for her grandchildren. She said, "My dream is that they are the best in their class, that they finish school because I never did." And what her dream for her business is as she is saving for a fourth VisionFund loan: "I hope to improve my business (so that I can) improve my house. There are many leaks and things to be fixed so that my grandchildren have a good home."
So often, clients in the developing world are reduced to cold numbers. But ask Florida Mukarugema what’s been the biggest change since she opened her shop and her answer won’t fit on any graph. “I am feeling happy. I am no longer crying.” Read her full story here: www.handinhandinternational.org/casestudy/meet-florida-th...
Microfinance Rwanda Women Entrepreneurs
PHOTO CREDIT. If you would like to use this image, please credit Georgina Goodwin, Hand in Hand International with the hyperlink: www.hihinternational.org/. Thank you.
This work by Hand in Hand International is licensed under a Creative Commons Attribution 4.0 International License.Based on a work at www.hihinternational.org/.Permissions beyond the scope of this license may be available at www.hihinternational.org/.
Children play in Mchinji, Malawi as a local business woman tells her microfinance story for a MicroFlicks film from VisionFund and World Vision. Business owner, farmer, grandmother to six children, and microfinance entrepreneur, Ifgenia has had her share of struggles. Born in the 1950’s, Ifgenia went to school and had dreams of going to college and getting a business degree. She was discouraged from this by her family, dropped out of school and married young.
In 2002 she was hit by a car. After 11 months in the hospital, Ifgenia hobbled out on crutches forbidding her to be able to do any sort of strenuous physical activity ever again.
Unfortunately, death of family is an all too often experience for Ifgenia. Her husband passed away of heart problems. Her son and two daughters also passed away leaving Ifgenia with five orphans to care for -- and she does so with love, faith, and provision. Raphael (9 years old), Jackson (7 years old), Binati (6 years old), Tebwala (6 years old), and Ephraim (2 years old) depend on their grandmother for everything -- food, shelter, clothing, and the opportunity to gain an education.
Ifgenia's life was a struggle with the burden of caring for five small children with a disability. A "headache" as she described it, having to find odd-end jobs to make money for a week at a time. Her cousin told her about VisionFund; that if she and some other women in her village were determined, they could get together and call the advisers of VisionFund who could help them.
Ifgenia received her first loan of 20,000 Kwacha ($500 USD) which she used to buy seeds, fertiliser, and tools to start her own farming business. Soon her business called for more. She repaid her first loan and drew a second one this time using the money to purchase a bike and a cow giving her milk to sell and a mode of transportation for a neighbor or one of her grandchildren to ride to the market for her. A third loan was later taken out and now Ifgenia also has a small number of piglets.
The money she has gained by being able to sell extra crops, milk, and pigs at the market is used to send her grandchildren to school -- a cost of approximately 15,000-135,000 Kwacha a year. I asked her what her dream is for her grandchildren. She said, "My dream is that they are the best in their class, that they finish school because I never did." And what her dream for her business is as she is saving for a fourth VisionFund loan: "I hope to improve my business (so that I can) improve my house. There are many leaks and things to be fixed so that my grandchildren have a good home."
Children play in Mchinji, Malawi as a local business woman tells her microfinance story for a MicroFlicks film from VisionFund and World Vision. Business owner, farmer, grandmother to six children, and microfinance entrepreneur, Ifgenia has had her share of struggles. Born in the 1950’s, Ifgenia went to school and had dreams of going to college and getting a business degree. She was discouraged from this by her family, dropped out of school and married young.
In 2002 she was hit by a car. After 11 months in the hospital, Ifgenia hobbled out on crutches forbidding her to be able to do any sort of strenuous physical activity ever again.
Unfortunately, death of family is an all too often experience for Ifgenia. Her husband passed away of heart problems. Her son and two daughters also passed away leaving Ifgenia with five orphans to care for -- and she does so with love, faith, and provision. Raphael (9 years old), Jackson (7 years old), Binati (6 years old), Tebwala (6 years old), and Ephraim (2 years old) depend on their grandmother for everything -- food, shelter, clothing, and the opportunity to gain an education.
Ifgenia's life was a struggle with the burden of caring for five small children with a disability. A "headache" as she described it, having to find odd-end jobs to make money for a week at a time. Her cousin told her about VisionFund; that if she and some other women in her village were determined, they could get together and call the advisers of VisionFund who could help them.
Ifgenia received her first loan of 20,000 Kwacha ($500 USD) which she used to buy seeds, fertiliser, and tools to start her own farming business. Soon her business called for more. She repaid her first loan and drew a second one this time using the money to purchase a bike and a cow giving her milk to sell and a mode of transportation for a neighbor or one of her grandchildren to ride to the market for her. A third loan was later taken out and now Ifgenia also has a small number of piglets.
The money she has gained by being able to sell extra crops, milk, and pigs at the market is used to send her grandchildren to school -- a cost of approximately 15,000-135,000 Kwacha a year. I asked her what her dream is for her grandchildren. She said, "My dream is that they are the best in their class, that they finish school because I never did." And what her dream for her business is as she is saving for a fourth VisionFund loan: "I hope to improve my business (so that I can) improve my house. There are many leaks and things to be fixed so that my grandchildren have a good home."
Haitian microfinance expert Claude Alexandre meets with students before the finalists are announced.
Haitian microfinance expert Claude Alexandre meets with students before the finalists are announced.
The purchase of a sewing machine ranks number five on Mahasemam's list of most frequent business proposal submissions. Chennai, India.
Bank To The Future Protect Your Future Before Governments Go Bust quote from Chapter 11 - The Mobile Smart Phone
Business owner, farmer, grandmother to six children, and microfinance entrepreneur, Ifgenia has had her share of struggles. Born in the 1950’s, Ifgenia went to school and had dreams of going to college and getting a business degree. She was discouraged from this by her family, dropped out of school and married young.
In 2002 she was hit by a car. After 11 months in the hospital, Ifgenia hobbled out on crutches forbidding her to be able to do any sort of strenuous physical activity ever again.
Unfortunately, death of family is an all too often experience for Ifgenia. Her husband passed away of heart problems. Her son and two daughters also passed away leaving Ifgenia with five orphans to care for -- and she does so with love, faith, and provision. Raphael (9 years old), Jackson (7 years old), Binati (6 years old), Tebwala (6 years old), and Ephraim (2 years old) depend on their grandmother for everything -- food, shelter, clothing, and the opportunity to gain an education.
Ifgenia's life was a struggle with the burden of caring for five small children with a disability. A "headache" as she described it, having to find odd-end jobs to make money for a week at a time. Her cousin told her about VisionFund; that if she and some other women in her village were determined, they could get together and call the advisers of VisionFund who could help them.
Ifgenia received her first loan of 20,000 Kwacha ($500 USD) which she used to buy seeds, fertiliser, and tools to start her own farming business. Soon her business called for more. She repaid her first loan and drew a second one this time using the money to purchase a bike and a cow giving her milk to sell and a mode of transportation for a neighbor or one of her grandchildren to ride to the market for her. A third loan was later taken out and now Ifgenia also has a small number of piglets.
The money she has gained by being able to sell extra crops, milk, and pigs at the market is used to send her grandchildren to school -- a cost of approximately 15,000-135,000 Kwacha a year. I asked her what her dream is for her grandchildren. She said, "My dream is that they are the best in their class, that they finish school because I never did." And what her dream for her business is as she is saving for a fourth VisionFund loan: "I hope to improve my business (so that I can) improve my house. There are many leaks and things to be fixed so that my grandchildren have a good home."
Bitani (age 6) plays with her brothers as her Grandma Ifgenia is filmed telling her story about getting a microfinance film from VisionFund. Business owner, farmer, grandmother to six children, and microfinance entrepreneur, Ifgenia has had her share of struggles. Born in the 1950’s, Ifgenia went to school and had dreams of going to college and getting a business degree. She was discouraged from this by her family, dropped out of school and married young.
In 2002 she was hit by a car. After 11 months in the hospital, Ifgenia hobbled out on crutches forbidding her to be able to do any sort of strenuous physical activity ever again.
Unfortunately, death of family is an all too often experience for Ifgenia. Her husband passed away of heart problems. Her son and two daughters also passed away leaving Ifgenia with five orphans to care for -- and she does so with love, faith, and provision. Raphael (9 years old), Jackson (7 years old), Binati (6 years old), Tebwala (6 years old), and Ephraim (2 years old) depend on their grandmother for everything -- food, shelter, clothing, and the opportunity to gain an education.
Ifgenia's life was a struggle with the burden of caring for five small children with a disability. A "headache" as she described it, having to find odd-end jobs to make money for a week at a time. Her cousin told her about VisionFund; that if she and some other women in her village were determined, they could get together and call the advisers of VisionFund who could help them.
Ifgenia received her first loan of 20,000 Kwacha ($500 USD) which she used to buy seeds, fertiliser, and tools to start her own farming business. Soon her business called for more. She repaid her first loan and drew a second one this time using the money to purchase a bike and a cow giving her milk to sell and a mode of transportation for a neighbor or one of her grandchildren to ride to the market for her. A third loan was later taken out and now Ifgenia also has a small number of piglets.
The money she has gained by being able to sell extra crops, milk, and pigs at the market is used to send her grandchildren to school -- a cost of approximately 15,000-135,000 Kwacha a year. I asked her what her dream is for her grandchildren. She said, "My dream is that they are the best in their class, that they finish school because I never did." And what her dream for her business is as she is saving for a fourth VisionFund loan: "I hope to improve my business (so that I can) improve my house. There are many leaks and things to be fixed so that my grandchildren have a good home."
Aye Aye Thwin and Son Noing.
Mrs. Aye Aye Thwin (45) and Mr. Son Noing (46) live with their 14-year-old daughter in a small wooden house in the flood-prone Irawaddy Delta in southern Myanmar.
In 2008, cyclone Nargis swept away everything they had: their house, their land, their livestock. Son Noing picked up the fishing trade to gather food as well as some income. Driven into despair the couple started borrowing money from loan sharks, hoping they could build back their farming business.
"The interest rates were so high, it caused us a lot of stress", says Mrs. Aye Aye. "After we would pay back our loan, there would hardly be anything left. We were barely getting by and we were losing hope.
They escaped this cycle of poverty when they started a loan for their business at Proximity Finance, at a much lower interest rate. With the investment, Aye Aye bought products for her store, which is now twice as large and generates twice as much income.
Thanks to their improved financial situation they could send their eldest son to school. He now has a job in the capital Yangon and also provides for the family. Mrs. Aye Aye: "We are so happy and filled with pride for our son."
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In Myanmar, Cordaid supports Proximity Finance, a microfinance institution that provides loans to thousands of farmers and vulnerable families in regions that suffer from poverty and the consequences of climate change.
Because of these loans and other forms of support they receive, like information on farming, technology and the local market, the farmers are able to improve their lives significantly.
The low interest rates allow them to pay off their debts relatively easily and gain extra income to cover essential expenses like hospital bills or school fees for their children.
In 2008 the country was hit hard by cyclone Nargis. Many people lost their entire farming business and livelihood. Proximity Finance stepped up and started helping farmers with small loans, enough to get their businesses running again. This offered a safe alternative to loan sharks, who illegally lend money at extremely high interest rates.
Now, these families can carry out their farming activities and even grow their business to increase their income and send their children to college. This way an entire generation will be able to escape poverty to start building a better future for Myanmar.
Children play in Mchinji, Malawi as a local business woman tells her microfinance story for a MicroFlicsk film from VisionFund and World Vision. Business owner, farmer, grandmother to six children, and microfinance entrepreneur, Ifgenia has had her share of struggles. Born in the 1950’s, Ifgenia went to school and had dreams of going to college and getting a business degree. She was discouraged from this by her family, dropped out of school and married young.
In 2002 she was hit by a car. After 11 months in the hospital, Ifgenia hobbled out on crutches forbidding her to be able to do any sort of strenuous physical activity ever again.
Unfortunately, death of family is an all too often experience for Ifgenia. Her husband passed away of heart problems. Her son and two daughters also passed away leaving Ifgenia with five orphans to care for -- and she does so with love, faith, and provision. Raphael (9 years old), Jackson (7 years old), Binati (6 years old), Tebwala (6 years old), and Ephraim (2 years old) depend on their grandmother for everything -- food, shelter, clothing, and the opportunity to gain an education.
Ifgenia's life was a struggle with the burden of caring for five small children with a disability. A "headache" as she described it, having to find odd-end jobs to make money for a week at a time. Her cousin told her about VisionFund; that if she and some other women in her village were determined, they could get together and call the advisers of VisionFund who could help them.
Ifgenia received her first loan of 20,000 Kwacha ($500 USD) which she used to buy seeds, fertiliser, and tools to start her own farming business. Soon her business called for more. She repaid her first loan and drew a second one this time using the money to purchase a bike and a cow giving her milk to sell and a mode of transportation for a neighbor or one of her grandchildren to ride to the market for her. A third loan was later taken out and now Ifgenia also has a small number of piglets.
The money she has gained by being able to sell extra crops, milk, and pigs at the market is used to send her grandchildren to school -- a cost of approximately 15,000-135,000 Kwacha a year. I asked her what her dream is for her grandchildren. She said, "My dream is that they are the best in their class, that they finish school because I never did." And what her dream for her business is as she is saving for a fourth VisionFund loan: "I hope to improve my business (so that I can) improve my house. There are many leaks and things to be fixed so that my grandchildren have a good home."
The opening panel of the 2011 MFC Annual Conference, “Reorienting Microfinance: Generating New or Repairing the Old?” featured Maria Teresa Zappia of BlueOrchard, Professor Dr. Adalbert Winkler of the Frankfurt School of Finance and Management, Dr. Milford Bateman of the University of Juraj Dobrila Pula, Christian Speckhardt of responsAbility, Luka Djurovic of Alter Modus and Rupert Scofield of FINCA International. The panel was moderated by Elvira Lefting of Finance in Motion.
Business owner, farmer, grandmother to six children, and microfinance entrepreneur, Ifgenia has had her share of struggles. Born in the 1950’s, Ifgenia went to school and had dreams of going to college and getting a business degree. She was discouraged from this by her family, dropped out of school and married young.
In 2002 she was hit by a car. After 11 months in the hospital, Ifgenia hobbled out on crutches forbidding her to be able to do any sort of strenuous physical activity ever again.
Unfortunately, death of family is an all too often experience for Ifgenia. Her husband passed away of heart problems. Her son and two daughters also passed away leaving Ifgenia with five orphans to care for -- and she does so with love, faith, and provision. Raphael (9 years old), Jackson (7 years old), Binati (6 years old), Tebwala (6 years old), and Ephraim (2 years old) depend on their grandmother for everything -- food, shelter, clothing, and the opportunity to gain an education.
Ifgenia's life was a struggle with the burden of caring for five small children with a disability. A "headache" as she described it, having to find odd-end jobs to make money for a week at a time. Her cousin told her about VisionFund; that if she and some other women in her village were determined, they could get together and call the advisers of VisionFund who could help them.
Ifgenia received her first loan of 20,000 Kwacha ($500 USD) which she used to buy seeds, fertiliser, and tools to start her own farming business. Soon her business called for more. She repaid her first loan and drew a second one this time using the money to purchase a bike and a cow giving her milk to sell and a mode of transportation for a neighbor or one of her grandchildren to ride to the market for her. A third loan was later taken out and now Ifgenia also has a small number of piglets.
The money she has gained by being able to sell extra crops, milk, and pigs at the market is used to send her grandchildren to school -- a cost of approximately 15,000-135,000 Kwacha a year. I asked her what her dream is for her grandchildren. She said, "My dream is that they are the best in their class, that they finish school because I never did." And what her dream for her business is as she is saving for a fourth VisionFund loan: "I hope to improve my business (so that I can) improve my house. There are many leaks and things to be fixed so that my grandchildren have a good home."
Bitani (age 6) smiles for the camera as her Grandma Ifgenia is filmed telling her story about getting a microfinance film from VisionFund. Business owner, farmer, grandmother to six children, and microfinance entrepreneur, Ifgenia has had her share of struggles. Born in the 1950’s, Ifgenia went to school and had dreams of going to college and getting a business degree. She was discouraged from this by her family, dropped out of school and married young.
In 2002 she was hit by a car. After 11 months in the hospital, Ifgenia hobbled out on crutches forbidding her to be able to do any sort of strenuous physical activity ever again.
Unfortunately, death of family is an all too often experience for Ifgenia. Her husband passed away of heart problems. Her son and two daughters also passed away leaving Ifgenia with five orphans to care for -- and she does so with love, faith, and provision. Raphael (9 years old), Jackson (7 years old), Binati (6 years old), Tebwala (6 years old), and Ephraim (2 years old) depend on their grandmother for everything -- food, shelter, clothing, and the opportunity to gain an education.
Ifgenia's life was a struggle with the burden of caring for five small children with a disability. A "headache" as she described it, having to find odd-end jobs to make money for a week at a time. Her cousin told her about VisionFund; that if she and some other women in her village were determined, they could get together and call the advisers of VisionFund who could help them.
Ifgenia received her first loan of 20,000 Kwacha ($500 USD) which she used to buy seeds, fertiliser, and tools to start her own farming business. Soon her business called for more. She repaid her first loan and drew a second one this time using the money to purchase a bike and a cow giving her milk to sell and a mode of transportation for a neighbor or one of her grandchildren to ride to the market for her. A third loan was later taken out and now Ifgenia also has a small number of piglets.
The money she has gained by being able to sell extra crops, milk, and pigs at the market is used to send her grandchildren to school -- a cost of approximately 15,000-135,000 Kwacha a year. I asked her what her dream is for her grandchildren. She said, "My dream is that they are the best in their class, that they finish school because I never did." And what her dream for her business is as she is saving for a fourth VisionFund loan: "I hope to improve my business (so that I can) improve my house. There are many leaks and things to be fixed so that my grandchildren have a good home."
Children play in Mchinji, Malawi as a local business woman tells her microfinance story for a MicroFlicsk film from VisionFund and World Vision. Business owner, farmer, grandmother to six children, and microfinance entrepreneur, Ifgenia has had her share of struggles. Born in the 1950’s, Ifgenia went to school and had dreams of going to college and getting a business degree. She was discouraged from this by her family, dropped out of school and married young.
In 2002 she was hit by a car. After 11 months in the hospital, Ifgenia hobbled out on crutches forbidding her to be able to do any sort of strenuous physical activity ever again.
Unfortunately, death of family is an all too often experience for Ifgenia. Her husband passed away of heart problems. Her son and two daughters also passed away leaving Ifgenia with five orphans to care for -- and she does so with love, faith, and provision. Raphael (9 years old), Jackson (7 years old), Binati (6 years old), Tebwala (6 years old), and Ephraim (2 years old) depend on their grandmother for everything -- food, shelter, clothing, and the opportunity to gain an education.
Ifgenia's life was a struggle with the burden of caring for five small children with a disability. A "headache" as she described it, having to find odd-end jobs to make money for a week at a time. Her cousin told her about VisionFund; that if she and some other women in her village were determined, they could get together and call the advisers of VisionFund who could help them.
Ifgenia received her first loan of 20,000 Kwacha ($500 USD) which she used to buy seeds, fertiliser, and tools to start her own farming business. Soon her business called for more. She repaid her first loan and drew a second one this time using the money to purchase a bike and a cow giving her milk to sell and a mode of transportation for a neighbor or one of her grandchildren to ride to the market for her. A third loan was later taken out and now Ifgenia also has a small number of piglets.
The money she has gained by being able to sell extra crops, milk, and pigs at the market is used to send her grandchildren to school -- a cost of approximately 15,000-135,000 Kwacha a year. I asked her what her dream is for her grandchildren. She said, "My dream is that they are the best in their class, that they finish school because I never did." And what her dream for her business is as she is saving for a fourth VisionFund loan: "I hope to improve my business (so that I can) improve my house. There are many leaks and things to be fixed so that my grandchildren have a good home."
The opening panel of the 2011 MFC Annual Conference, “Reorienting Microfinance: Generating New or Repairing the Old?” featured Maria Teresa Zappia of BlueOrchard, Professor Dr. Adalbert Winkler of the Frankfurt School of Finance and Management, Dr. Milford Bateman of the University of Juraj Dobrila Pula, Christian Speckhardt of responsAbility, Luka Djurovic of Alter Modus and Rupert Scofield of FINCA International. The panel was moderated by Elvira Lefting of Finance in Motion.
The opening panel of the 2011 MFC Annual Conference, “Reorienting Microfinance: Generating New or Repairing the Old?” featured Maria Teresa Zappia of BlueOrchard, Professor Dr. Adalbert Winkler of the Frankfurt School of Finance and Management, Dr. Milford Bateman of the University of Juraj Dobrila Pula, Christian Speckhardt of responsAbility, Luka Djurovic of Alter Modus and Rupert Scofield of FINCA International. The panel was moderated by Elvira Lefting of Finance in Motion.
Business owner, farmer, grandmother to six children, and microfinance entrepreneur, Ifgenia has had her share of struggles. Born in the 1950’s, Ifgenia went to school and had dreams of going to college and getting a business degree. She was discouraged from this by her family, dropped out of school and married young.
In 2002 she was hit by a car. After 11 months in the hospital, Ifgenia hobbled out on crutches forbidding her to be able to do any sort of strenuous physical activity ever again.
Unfortunately, death of family is an all too often experience for Ifgenia. Her husband passed away of heart problems. Her son and two daughters also passed away leaving Ifgenia with five orphans to care for -- and she does so with love, faith, and provision. Raphael (9 years old), Jackson (7 years old), Binati (6 years old), Tebwala (6 years old), and Ephraim (2 years old) depend on their grandmother for everything -- food, shelter, clothing, and the opportunity to gain an education.
Ifgenia's life was a struggle with the burden of caring for five small children with a disability. A "headache" as she described it, having to find odd-end jobs to make money for a week at a time. Her cousin told her about VisionFund; that if she and some other women in her village were determined, they could get together and call the advisers of VisionFund who could help them.
Ifgenia received her first loan of 20,000 Kwacha ($500 USD) which she used to buy seeds, fertiliser, and tools to start her own farming business. Soon her business called for more. She repaid her first loan and drew a second one this time using the money to purchase a bike and a cow giving her milk to sell and a mode of transportation for a neighbor or one of her grandchildren to ride to the market for her. A third loan was later taken out and now Ifgenia also has a small number of piglets.
The money she has gained by being able to sell extra crops, milk, and pigs at the market is used to send her grandchildren to school -- a cost of approximately 15,000-135,000 Kwacha a year. I asked her what her dream is for her grandchildren. She said, "My dream is that they are the best in their class, that they finish school because I never did." And what her dream for her business is as she is saving for a fourth VisionFund loan: "I hope to improve my business (so that I can) improve my house. There are many leaks and things to be fixed so that my grandchildren have a good home."
For 27 years, Armah has been a poultry farmer, raising boilers, layers and cocks. “Business has been up and down, with more ups than down, but when rent started to raise at the building I used for the poultry, I had to make a change,” says Armah. That’s when Armah heard about VisionFund Ghana. With a small loan from VisionFund Ghana, Armah was able to rent, and eventually purchase, his uncle’s building in Agona Nkwanka, Ghana.
Armah initially started in a group loan but has since moved onto an individual loan, with each loan increasing as his business increased. Seven years after his first loan, Armah’s business is the strongest that it has been since he began 27 years ago. But for Armah, it’s not about how well his business is doing, but how well he can support his wife and three boys. “I just want my kids to go to university and to be successful in life,” says Armah.
4 March 2014
left/right
Muhammad Yunus, Grameen Bank
Jean-Luc Perron, Managing Director of Grameen Credit Agricole Microfinance Foundation
Angel Gurría, Secretary-General, OECD.
photo: Herve Cortinat/OECD
Microfinance India Women Entrepreneurs in Tamil Nadu
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Business owner, farmer, grandmother to six children, and microfinance entrepreneur, Ifgenia has had her share of struggles. Born in the 1950’s, Ifgenia went to school and had dreams of going to college and getting a business degree. She was discouraged from this by her family, dropped out of school and married young.
In 2002 she was hit by a car. After 11 months in the hospital, Ifgenia hobbled out on crutches forbidding her to be able to do any sort of strenuous physical activity ever again.
Unfortunately, death of family is an all too often experience for Ifgenia. Her husband passed away of heart problems. Her son and two daughters also passed away leaving Ifgenia with five orphans to care for -- and she does so with love, faith, and provision. Raphael (9 years old), Jackson (7 years old), Binati (6 years old), Tebwala (6 years old), and Ephraim (2 years old) depend on their grandmother for everything -- food, shelter, clothing, and the opportunity to gain an education.
Ifgenia's life was a struggle with the burden of caring for five small children with a disability. A "headache" as she described it, having to find odd-end jobs to make money for a week at a time. Her cousin told her about VisionFund; that if she and some other women in her village were determined, they could get together and call the advisers of VisionFund who could help them.
Ifgenia received her first loan of 20,000 Kwacha ($500 USD) which she used to buy seeds, fertiliser, and tools to start her own farming business. Soon her business called for more. She repaid her first loan and drew a second one this time using the money to purchase a bike and a cow giving her milk to sell and a mode of transportation for a neighbor or one of her grandchildren to ride to the market for her. A third loan was later taken out and now Ifgenia also has a small number of piglets.
The money she has gained by being able to sell extra crops, milk, and pigs at the market is used to send her grandchildren to school -- a cost of approximately 15,000-135,000 Kwacha a year. I asked her what her dream is for her grandchildren. She said, "My dream is that they are the best in their class, that they finish school because I never did." And what her dream for her business is as she is saving for a fourth VisionFund loan: "I hope to improve my business (so that I can) improve my house. There are many leaks and things to be fixed so that my grandchildren have a good home."
Children play in Mchinji, Malawi as a local business woman tells her microfinance story for a MicroFlicsk film from VisionFund and World Vision. Business owner, farmer, grandmother to six children, and microfinance entrepreneur, Ifgenia has had her share of struggles. Born in the 1950’s, Ifgenia went to school and had dreams of going to college and getting a business degree. She was discouraged from this by her family, dropped out of school and married young.
In 2002 she was hit by a car. After 11 months in the hospital, Ifgenia hobbled out on crutches forbidding her to be able to do any sort of strenuous physical activity ever again.
Unfortunately, death of family is an all too often experience for Ifgenia. Her husband passed away of heart problems. Her son and two daughters also passed away leaving Ifgenia with five orphans to care for -- and she does so with love, faith, and provision. Raphael (9 years old), Jackson (7 years old), Binati (6 years old), Tebwala (6 years old), and Ephraim (2 years old) depend on their grandmother for everything -- food, shelter, clothing, and the opportunity to gain an education.
Ifgenia's life was a struggle with the burden of caring for five small children with a disability. A "headache" as she described it, having to find odd-end jobs to make money for a week at a time. Her cousin told her about VisionFund; that if she and some other women in her village were determined, they could get together and call the advisers of VisionFund who could help them.
Ifgenia received her first loan of 20,000 Kwacha ($500 USD) which she used to buy seeds, fertiliser, and tools to start her own farming business. Soon her business called for more. She repaid her first loan and drew a second one this time using the money to purchase a bike and a cow giving her milk to sell and a mode of transportation for a neighbor or one of her grandchildren to ride to the market for her. A third loan was later taken out and now Ifgenia also has a small number of piglets.
The money she has gained by being able to sell extra crops, milk, and pigs at the market is used to send her grandchildren to school -- a cost of approximately 15,000-135,000 Kwacha a year. I asked her what her dream is for her grandchildren. She said, "My dream is that they are the best in their class, that they finish school because I never did." And what her dream for her business is as she is saving for a fourth VisionFund loan: "I hope to improve my business (so that I can) improve my house. There are many leaks and things to be fixed so that my grandchildren have a good home."
Children play in Mchinji, Malawi as a local business woman tells her microfinance story for a MicroFlicks film from VisionFund and World Vision. Business owner, farmer, grandmother to six children, and microfinance entrepreneur, Ifgenia has had her share of struggles. Born in the 1950’s, Ifgenia went to school and had dreams of going to college and getting a business degree. She was discouraged from this by her family, dropped out of school and married young.
In 2002 she was hit by a car. After 11 months in the hospital, Ifgenia hobbled out on crutches forbidding her to be able to do any sort of strenuous physical activity ever again.
Unfortunately, death of family is an all too often experience for Ifgenia. Her husband passed away of heart problems. Her son and two daughters also passed away leaving Ifgenia with five orphans to care for -- and she does so with love, faith, and provision. Raphael (9 years old), Jackson (7 years old), Binati (6 years old), Tebwala (6 years old), and Ephraim (2 years old) depend on their grandmother for everything -- food, shelter, clothing, and the opportunity to gain an education.
Ifgenia's life was a struggle with the burden of caring for five small children with a disability. A "headache" as she described it, having to find odd-end jobs to make money for a week at a time. Her cousin told her about VisionFund; that if she and some other women in her village were determined, they could get together and call the advisers of VisionFund who could help them.
Ifgenia received her first loan of 20,000 Kwacha ($500 USD) which she used to buy seeds, fertiliser, and tools to start her own farming business. Soon her business called for more. She repaid her first loan and drew a second one this time using the money to purchase a bike and a cow giving her milk to sell and a mode of transportation for a neighbor or one of her grandchildren to ride to the market for her. A third loan was later taken out and now Ifgenia also has a small number of piglets.
The money she has gained by being able to sell extra crops, milk, and pigs at the market is used to send her grandchildren to school -- a cost of approximately 15,000-135,000 Kwacha a year. I asked her what her dream is for her grandchildren. She said, "My dream is that they are the best in their class, that they finish school because I never did." And what her dream for her business is as she is saving for a fourth VisionFund loan: "I hope to improve my business (so that I can) improve my house. There are many leaks and things to be fixed so that my grandchildren have a good home."