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The Africa Microfinance Network (AFMIN) is an association of microfinance networks in Africa resulting from an initiative led by African microfinance practitioners to create and strengthen country-level microfinance networks for the purpose of establishing shared performance standards, institutional capacity and policy change.
Unintended consequences of microfinance include informal intermediation: some entrepreneurial borrowers may become informal intermediaries between microfinance initiatives and poorer micro-entrepreneurs. Those who more easily qualify for microfinance may split loans into smaller credit to even poorer borrowers.
The micro-finance model of Grameen has proved versatile and has adapted well to the customs of many countries. As Grameen continued to grow, it branched out into new projects to aid the poor. In 1986 [2] Grameen acquired 783 ponds to eventually start a Fisheries Foundation, utilizing previously unused resources while providing jobs for the ...
The Nobel laureate Muhammad Yunus, founder of Grameen Bank, is credited with lifting millions out of poverty in the country of Bangladesh. Grameen became famous for pioneering the concept of ...
The self-help group (SHG) linkage model has also been proposed to improve financial inclusion by linking community groups to the formal banking sector through government programs, credit cooperatives, NGOs, or other microfinance institutions. Group-based models in which members pool their savings have also been seen as tools for social and ...
The real average portfolio yield cited by the sample of 704 microfinance institutions that voluntarily submitted reports to the MicroBanking Bulletin in 2006 was 22.3% annually. However, annual rates charged to clients are higher, as they also include local inflation and the bad debt expenses of the microfinance institution. [20]
Self-help groups are started by non-governmental organizations (NGOs) that generally have broad anti-poverty agendas. Self-help groups are seen as instruments for goals including empowering women, developing leadership abilities among the poor and the needy, increasing school enrolment and improving nutrition and the use of birth control.
Community banking is a form of empowerment-based economics which falls under the larger umbrella of micro-finance.Micro-finance as a whole is focused on the entrepreneurship of individuals, generally with a goal of lifting low-income or disadvantaged groups out of poverty and providing the means for them to prosper. [3]