A joint initiative of the Consultative Group to Assist the Poor (CGAP) and the EU/ACP Microfinance Program, published by Consultative Group to Assist the Poor (CGAP), March 2009, CGAP Technology Survey, 15 pages, available at:
http://www.cgap.org/gm/document-1.9.34552/2008%20Microfinance%20Technology%20Survey.pdf
Written by Paul Rippey, published in March 2009 as Focus Note Number 53 by the Consultative Group to Assist the Poor (CGAP), 20 pages, full text available at: http://www.cgap.org/gm/document-1.9.34043/FN_53%20ENG_4-08-09a.pdf
Carbon Manna Unlimited, a San Diego-headquartered company, has put out a call for strategic partnerships with companies and philanthropies interested in implementing its envisioned cell phone based Carbon Micro Credit system in Kenya, and subsequently, other West and Southern African countries. Specifically, the call goes out to manufacturers of cell phone and wireless transmission equipment, wireless carriers doing business in Africa, and companies interested in co-promotional campaigns. Carbon Manna Unlimited, founded by David Palella, aspires to create a system in which impoverished families can profit from the carbon offsets they produce by switching from inefficient cooking methods that burn biomass and contribute to deforestation, to efficient solar cookers or modern charcoal stoves. Mr. Palella estimates that each family that makes the transition could claim approximately three tons of carbon-offset credits per year, worth about USD 20 to USD 35 – about a month’s wage for someone living on USD 1 per day. Furthermore, in transitioning to the new stoves a family would reduce their contribution to deforestation and desertification, and limit their lung exposure to unhealthy smoke.
Source: Carbon Manna.
The State of the Microcredit Summit Campaign Report 2009 was written by Sam Daley-Harris and is a 70 page report that discusses the human face of global poverty, reviews microfinance breakthroughs in helping slum dwellers move out of the slums and highlights innovations that have brought renewable energy to poor communities. The report is a summary of the achievements and innovations of the Microcredit Summit Campaign for the year 2008 as wells as notable achievements in the microfinance community in general and consists of contributions from a variety of experts in the microfinance industry. The original report is available here.
APPLICATIONS BECOME AVAILABLE ONLINE ON JANUARY 15, 2009 AND ARE DUE BY FEBRUARY 22, 2009.
Engineers for Social Impact (E4SI) has commenced its second annual rigorous recruitment process to match the most talented ten undergraduate students from fifteen elite Indian engineering schools with partner social enterprises that focus on development by means of sustainable for-profit entrepreneurship. E4SI fellowships promise to be highly entrepreneurial in a way that combines the best of consulting, technology, and social innovation. Fellows will gain unprecedented access to the development sector as they work with leading social entrepreneurs, attend leadership workshops at the Indian School of Business (ISB), Hyderabad, and pitch their ideas to thought leaders as they join an outstanding cohort of exceptional young leaders.
Partner social enterprises for the 2009 edition of the E4SI fellowship program are leaders in microfinance, multiple bottom-line investment advisory, education, energy, and healthcare. Among them are: Ujjivan, Intelicap, iDiscoveri, and Solar Electric Light Company (SELCO India).
For more information on the Engineers for Social Impact fellowship and details on how to apply for the 2009 edition, please visit the E4SI website. Applications are due on February 22, 2009.
United States Agency for International Development (USAID) recently published a note about efforts in India to provide an integrated approach in addressing poverty alleviation, global health and energy. Shortage of cooking fuel is a key problem in India where approximately 260 million of the country’s total 1.2 billion population live below the poverty line. Some households burn cow dung cakes as an alternative fuel source, creating environmental hazards and causing harmful health consequences, including acute respiratory infections in children. According to a 2006 Shell Foundation Report, deaths linked to biomass smoke exposure compete with malaria as the leading cause of death in adults in developing nations every year.
Source: MarketWatch
Original press release available here.
Source: Stanford Social Innovation Review.
Legally incorporated in Oranjestad, Aruba, the West Africa Sustainable Economic Initiative (WASEI) is a for-profit company which will establish microfinance institutions (MFIs) as well as business incubators to complement the former by training and supporting the borrowers. WASEI is currently offering 4,505,000 Class B Common Stock Shares at USD 1 per share through the MicroFinance Exchange (MFDAQ) as part of the first round in a long-term capitalization effort. As stated in a memorandum available to registered users of MFDAQ, the minimum subscription is 500 shares, investors will have full dividend rights, and those shareholders who purchase interests during the current round of offerings will be granted half the amount that they own, at no additional cost, during round two—to take place at the beginning of year three of operations. Voting rights are reserved for 5,000 Class A shares, all of which will be retained by Micro Venture Support (MVS), the nonprofit parent organization of WASEI. All interested investors must register on http://mfdaq.com/. At the time of writing, a balance of 2,997,500 shares remained.
Source: NextBillion.net.
Source: Development Outreach (World Bank Group).
Source: Business Week.
A team from the University of Michigan won first prize in Knox Lawrence International LLC’s (KLI) inaugural Africa MBA Business Plan Competition for its strategy to cultivate and market a plant whose oil extract has potential for use in biodiesel.
Green Microfinance (GMf) of Pennsylvania and MicroEnergy International (ME) of Germany recently announced the creation of Energizing India, a program that aims to promote clean energy products throughout India. The first phase of the project will focus on four provinces in southern India and will be implemented through a partnership with the microfinance institution (MFI) Evangelical Social Action Forum (ESAF).
Engineers for Social Impact (E4SI), a new fellowship program in India, has begun its recruitment process to match the top five undergraduate candidates from Indian engineering schools with five partner social enterprises that are focusing on development by means of sustainable for-profit entrepreneurship.
At a recent stakeholders’ meeting, Governor Segun Oni of the state of Ekiti, Nigeria made several announcements pertaining to the development of the microfinance sector in the state. He disclosed that by next month, an Economic Team would be established in all sixteen local governments of the state to manage a new micro-credit fund. The fund will be comprised of a state government contribution of N50 million (USD 424,502) and local council contributions of N10 to N25 million (USD 84,900 to USD 212,251). It will be used to “develop the economic strategies of each of the local government areas”. Members of the Economic Team will be nominated by traditional rulers and will serve as volunteer servants of their community.
The rise of cellphone banking in India highlights a new trend: technology developed in the Third World is flowing back to the First.