We rejoice with Yunus on his 70th birthday. The next step is to make the link between microfinance and wider economic development.
The Grameen model of microfinance has had a massive impact on the very poor and transformed millions of individuals’ and families’ lives for the better. But the solution lies not just in finance.
After attending the Grameen Dialogue in Bangladesh in 2001, Fantsuam Foundation adapted the Grameen model to meet the socio-economic and cultural realities of rural Nigeria. At Fantsuam Foundation, microfinance is part of a wider portfolio of services which support our ‘integrated approach to rural development’.
We routinely provide our microfinance clients with health and business training which underpins their creditworthiness as they enter higher credit cycles. Our greatest achievement is to see women who were nervous to collect a N5,000 loan confidently signing for a N50,000 loan a couple of years later.
Fantsuam also provides services to the wider community to stimulate wider economic development. Our Academy offers computer training up to CISCO level. Those that can afford pay for the training which allows us to maintain the infrastructure to offer scholarships to the more disadvantaged whilst building important capability within the community. The same goes for our Internet Service Provider, ZittNet. We are also looking to meet the gap made by the recent refusal of local banks to extend any lines of credit to local small businesses as they are the engine-room of the local economy.
Fantsuam recently worked with a team from the Harvard Kennedy School to determine how to increase the effectiveness of its integrated approach in order to achieve its vision of eliminating poverty and disadvantage. We continue to work on improving our approach and would be keen to hear from others’ experiences in the area?
Kazanka Comfort, Director of Operations, Fantsuam Foundation, Kafanchan, Nigeria
I had problems signing in,so I had to sign up again. Yes the library project prove to be costly. I tried to get investors but invain. Most companies like to see what is it for them in the project. What is it that they can gain for them to invest.
However I want to take you up on the suggestion that you put up about "Words-Worth" project. It sounds like an interesting project, however I will appreciate it if you can send me more information. There is a high number of scholars that do not reach tertiary institution especially in rural areas. Mostly they don't think they can afford it( lack of information), some they do not have role models etc.
I tried to motivate the ones that I get to contact with, however I always think I can do more, and make a difference in their lives.
Hi David, I am so pleased when this happens! It seems there are still caring people in this world who are not hamstrung by their own egos and greed! Please tell me more about what you are doing! Kind regards George
Thank you for visiting fairtraderjournal.com.
You raise an interesting point. From a personal perspective, my husband and I have been fortunate to have several opportunities to work in employee-owned businesses. There is a definite advantage to both the company and the employees in these business environments. Constance
Hello David. I'm curious why you are astonished. I feel employee-owned business is the heart of America.
I don't know enough about your operations to offer advice. I can say that all of the business endeavours we have been involved with have required a financial investment on our part. This would seem
to preclude most garment workers in developing countries who are
barely making enough to survive.
There is also sweat equity to consider, but again it is my impression that these workers cannot afford this either. What do you think? Constance
Yes indeed I do know about the SMP and am a member on two fronts - GeoVison and Waterforall Africa. The second one is a Scottish registered charity and I'm actually tying up with you because of your email to Jim Rae of which he has sent me a copy. Water was originally a priority area with the IDF but was removed just before funding awards in September 2008 and I've never understood why. I had a proposal in then to assess the water resources potential of the Mulanje Massif (amongst others) through provision of up to date maps which had the backing (in the form of a letter of support to the IDF) from the then Principal Secretary of the Ministry of Water (now Secretary of State for Natural Resources). The IDF took no notice of the letter as my proposal was rejected. I wish you well with your gathering of information about consultants fees, particularly LTS.
hi Mr McGill thank you for your comment and i think your ideas are totally brilliant.i will be looking forward to being a part of this project you are working on.if there is anyway i can be a part of your work towards achieving this,kindly let me know.have a nice day sir.
Hi Tobi, Im now involved in a number of projects throughout Africa. What would be helpful would be for members of the Nigerian Executive to adopt and wear the Nigerian tartan in the form of ties, scarves etc
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