Archive for July, 2010
The Fellowship that wasn’t
By Ron Turley KF11.5
I see that Kiva has begun to recognise those of us who are/have been fellows. On our lenders page, we have a distinctive Kiva “K” on our pictures, links to Kiva Fellow blogs we have posted and the name of the country and MFI with which we worked.
This is very embarrassing for me as I feel I did not earn any of it.
Video: Kenyan mountaintops is where wonderful inspirations live
In Kabarnet, a town situated on the mountain tops of Western Kenya, I spent a day with Irene, a credit officer, to meet KADET’s client groups living in this area. At the end of the day, I was tired but happy from all the people I had the pleasure to meet. One young woman, at the young age of 28, was earning less than $2 a day and supporting 8 orphan children in addition to her own two kids. Wow!
The Working Poor vs The Unbanked.
By Drew Loizeaux, KF11, Uganda
When talking to people about microfinance, many times the poverty level of the clients is brought up as a big way to measure an organization’s success. I felt this way for a long time and it makes sense. We have all heard stories of a poor farmer expanding his business or a “phone women” in a Bangladeshi village. As I have spent more time at microfinance institutions however, I’ve realized that view is incomplete. Yes, empowering the poor is a very important part of microfinance, but they are only a subsection of the really important group that a successful MFI must target; the unbanked.
Many times, poor and unbanked are synonymous, but other times they are not and it is important to recognize the difference between the two and how each group can help a community. To illustrate this point I want to introduce you to Fred.
¡Chau Bolivia!
It is hard to believe that three months are coming to a close. In two days, I return to the United States. For my last blogpost, I would like to thank everyone who made my experience memorable and worthwhile.
Continue Reading 29 July 2010 at 10:58 alexisguild 1 comment
Minister Felipe of Mideplan Chile visits Socias of Fondo Esperanza and reveals results of the national socio-economic survey
By Lorena Gil, Kiva Fellow/KF12, Fondo Esperanza – Chile
On my first official day at Fondo Esperanza I was quickly whisked to a press release event already underway at a local communal centre in Santiago, Chile, where socias (borrowers) of Fondo Esperanza conduct local weekly meetings.
The Ministry of Planning and Cooperation (Mideplan) of Chile chose this location to reveal the results of the national socio-economic survey (Casen 2009)
In The Words of Our Clients – An SMS Journal Pilot in Kenya
By Jeremy Gordon, KF11, Kenya
On July 26th, Erick Bii updated the 21 lenders that had supported his loan with the state of his business, the impact of his loan on his family, and his recent challenges. To read the full journal, click on the quote above.
To communicate with his lenders, Erick didn’t need to travel to the Juhudi branch office in Litein, or even sit down with a loan officer at his farm. Instead, he responded to a series of SMS questions sent to him via his mobile phone. Erick chose to receive his survey in Kiswahili, but in several of [our] [early] [tests], borrowers preferred to send their updates in English. (more…)
A blog can only give you so much
My six months as a Kiva Fellow made me realize how privileged I am. Reading this might not be spectacular. Writing it is! Have a go!
Continue Reading 28 July 2010 at 07:08 Samuel Trauffer 2 comments
Language & Culture in Azerbaijan
By Yelena Shuster, KF 11, Azerbaijan
I’d like to tell you about language in Azerbaijan especially since there have been some questions among Kiva lenders and translation volunteers as to why Komak is posting profiles in Russian using Latin letters instead of Cyrillic.
You see, since the start of the 20th century the Azeri alphabet has metamorphosed 3 times…
- Prior to 1929 Azeri was written in Perso-Arabic script.
- 1929–1938 A Latin alphabet was used (although it was different from the one used now).
- 1938 to 1991 The Cyrillic alphabet was imposed by the Soviet Union.
- 1991 With independence, the current Latin alphabet was introduced.
I’ve met several folks in their 40s and 50s who grew up reading only Cyrillic and now have difficulty reading newspapers and books. How isolated they must feel with their access to newspapers, magazines and books so unfairly limited by the alphabet! (more…)
Transparency Through Client Feedback
By Jeremy Gordon, KF11 and Rachel Brooks, KF10, Kenya
“Esther Keino hopes Juhudi will consider giving loans without requiring solidarity groups in future as group lending is sometimes discouraging because not all members are reliable.”
“Peter is grateful Juhudi Kilimo is focusing on the rural poor who would otherwise have limited or no access to capital. He likes the funding for dairy cows as it is not just for financial purposes but also for social purposes, as it improves the health of families.”
Kiva entrepreneurs can often be a little uncomfortable answering even some of the basic questions for a Kiva profile. Yet at the end of an interview, when Juhudi Kilimo loan officers ask if clients have any other comments, the clients often noticeably relax and open up with quite a few other comments.
There’s no time like the present – apply to be a Kiva Fellow!
By Julie Ross, Kiva Fellows Program Coordinator and Kiva Fellow with KF5/6/7
Have you been reading the stories on this blog and wondering if you could live out some of your own? Maybe you’ve thought of applying to be a Kiva Fellow but haven’t quite completed an application yet?
Whatever your reason for hesitating, read through the stories on this blog and think about how you could fit into them. If you have something to contribute–experience as a software developer, banker, lawyer, teacher, non-profit professional, MBA recipient, auditor, corporate executive, entrepreneur, consultant, retired professional, and the list goes on–go ahead and visit the Kiva Fellows site (kiva.org/fellows) and submit your application.
We are accepting applications for the 13th class of Kiva Fellows (training in San Francisco Oct. 11-15) until Friday, Aug. 6th. So go ahead and get your application in: kiva.org/fellows/apply. If you’d like to see a profile of a Kiva Fellow, click on the photo below to check out the video that Micro-Documentaries created to profile Rob Cavese, a member of KF6:
To watch a Kiva Fellow's story, click on the photo above
This video was created pro bono by Micro-Documentaries
Who are the entrepreneurs at KADET?
Jenny Jin, KF11- Kenya, KADET
In the first weeks as a Kiva Fellow with KADET, I learned that the Kenyan microfinance organization focused on serving rural small entrepreneurs, both men and women. But it wasn’t until I got into the field and met the clients that I began to have a richer understanding of the entrepreneurs that KADET was serving. The clients were infallibly gracious in their welcome, and shared details of their businesses, their family life, and invited me into their homes and introduced me to their neighbors. As many other Kiva Fellows attest, these field visits to meet clients have been the best part of my experience and oftentimes also present the greatest challenge to figure out how to pass on this information to the Kiva community without losing much of the vibrancy.
What does Microfinance “look like” in the US?
By: Kimia Raafat
I had my doubts about microfinance in San Francisco. Having 7 months of work experience at microfinance institutes in Ecuador and Paraguay, the images I associated with South American field visits (see two photos below) included cane homes, wooden kiosks, rural shops and unpaved roads—slightly different from the “techy”, modern Silicon Valley/San Francisco state of mind.
Being a Kiva Fellow – My week with 5 LO and 100 Kiva borrowers – Part 2
Have you ever wondered what Kiva Fellows really do on a daily basis?
Second and last episode of my week
On the menu of the end of this week: new profiles, client waiver, training. Working with loan officers and Kiva Coordinators.
Continue Reading 23 July 2010 at 16:42 thefrenchlily Leave a comment
It’s the Little Things that Count
Matt Raimond, KF11
Life as a Kiva Fellow has been a huge change of pace from the rest of my life, a chance to slow down and reflect on all the changes in my life while experiencing to a tremendous learning opportunity. It has been an eye opening experience and I have been amazed at how many things I take for granted in my life. Through my reflections I’ve come to realize that it’s the little things that count. And so for my final post as a Kiva Fellow I present you with the top 11 things (yes, 11) that I am thankful for from my Kiva Fellowship in Honduras (in no particular order).
A Good Way to Handle Meeting Latecomers
By Steve Grey, KF11, Kenya
… it was one of the meeting management techniques that intrigued me. At the beginning of the 4-hour session (with no break!), the leader asked the 100+ attendees to come up with rules for the meeting… fines for cell phone use, fines for leaving the meeting, and fines for arriving late… You might be wondering, “What do they do with the fines?”. Well that’s one of the more interesting parts of this system…
Continue Reading 23 July 2010 at 12:01 stevensgrey 7 comments
37 New Brushes to Paint the World
by Gabriel Francis, Kiva Fellow class 12, FUDECOSUR Costa Rica
As member of the upcoming Kiva Fellows class 12 (KF12), I am excited but exhausted. Although Kiva Fellow class 11 is still in the field class 12 is already preparing to follow in their steps. Last week 37 new Fellows of KF12 graduated from an intense week of training.
Continue Reading 23 July 2010 at 08:00 Gabe Francis 6 comments
Microfinance regulation – The case in Sri Lanka
By Cheney Wells, KF 11
With the recent financial crisis, and questionable practices by America’s biggest banks, the word “regulation” had made frequent appearances in the headlines of newspapers.
As of yet, Sri Lanka’s government has not implemented a means of regulating the microfinance industry here. However, according to Sri Lanka’s Central Bank website: “A law to regulate and supervise Micro-Finance Institutions is […] being formulated. Action is being taken to establish an independent authority for monitoring micro- finance institutions.”
That there is no regulating authority of yet for the microfinance industry has led to strong hesitation on behalf of Sri Lanka’s Central Bank to promote or support any micro-lending activities in the country.
Just as there has been debate over how much the private banks in the United States should be regulated, there are concerns over the effects of an over-regulated microfinance industry here in Sri Lanka. Such concerns include:
- A minimum capital requirement for MFIs, which could exclude some of the smaller MFIs from operation if unable to meet the minimum
- An interest rate cap provisioned by the Act, which make operational and financial sustainability for MFIs a difficult task if the cap is set too low
- The cost of regulation, which would be borne by the MFIs in the form of a license fee. This cost would ultimately affect the borrowers
What effect regulation of the microfinance industry will have remains to be seen, but MFIs would do well to prepare themselves for complying with what is a near certainty in the future of the industry here.
What is it like being a Kiva Fellow? My week with 5 Loan officers and 100 Kiva Borrowers – Part 1
Have you ever wondered what Kiva Fellows really do on a daily basis?
Let me share with you one of my Kiva Fellow week.
On the menu of this week: new profiles, journals, client waiver, training, Cerise, blog, borrower verification and much more. Working with loan officers, Kiva Coordinator, and MFI management.
Every morning since I have been a KF, I always start with the same first 2 things: 1. Check fundraising status of my MFI to see whether we will hit the monthly target and 2. Check the average 5 emails I have received overnight from the other 28 KF around the world
Those are the only 2 predictable things in my KF assignment. For the rest, everyday is different and comes with a surprise…
Continue Reading 21 July 2010 at 15:16 thefrenchlily Leave a comment
Kiva Makes it Personal
By Leah Gage, Kiva Fellow in Togo
Less than a year ago, Kiva was taken to task by critics for not being as person-to-person (P2P) as it was claiming to be. But I think Kiva’s continued relevance in the field of grassroots development rests precisely on its continued ability to connect people through lending for the sake of alleviating poverty. There are lots of examples of this; here are three. (more…)
Multiple Loan Cycles – A Never Ending Cycle?
Many MFIs depend heavily on repeat customers to achieve financial stability, resulting in multiple loan cycles for clients. Is this a good thing? Click on the post to read the thoughts of one Kiva Fellow in Honduras.
Continue Reading 20 July 2010 at 15:34 mraimondi 11 comments
Is that even a real country? Q and A about Tajikistan
By Sam Kendall KF12 Tajikistan
As one of the new Kiva Fellows who will be in the field by the end of month, I bubble with excitement about going to a foreign country and helping Kiva. I tell anyone who asks that I am going to Tajikistan, usually with a big smile, or at least excitement in my voice.
People usually look at me with the squinty eyed pondering look, then I get asked a lot of the same questions. I try to answer some of them here for those who are curious.
More fish?
Surfing the tattered pages of this blog, one is able to read about MFIs operating in saturated markets.
Sierra Leone as a whole is decidedly not such a market, but I sometimes suspect that certain segments have reached a point where you get a rapidly decreasing measure of development for your microfinance Leone.
Seed Capital – Um, Literally.
Cesar proved adept at navigating typical Chiclayan street traffic – a pushcart of chicken feet (0:18), a hatchback full of platanos (0:22), and of course, that staple of gridlock on the Pan-American, the obligatory donkey-drawn wagon (0:25).
Corruption? No thanks!
“The surest way to corrupt a youth is to instruct him to hold in higher esteem those who think alike than those who think differently.”
Friedrich Nietzsche
Continue Reading 19 July 2010 at 07:14 Samuel Trauffer 1 comment
Solar Loans in Kenya
Jenny Jin, KF11
This past weekend I had the opportunity to check out one of KADET’s newest loan products: solar loans!
Not talking about atrocities
By Aaron Kaye, Kiva Fellow, Sierra Leone
I’ve been living in Sierra Leone for the past couple months and have never in my conversations with Sierra Leoneans broached the subject of the fighting and civilian atrocities that shook the country during the late 90s. I discussed the topic only when friends or colleagues here brought it up. Was this the right approach, or should I have discussed the topic, heeding US Supreme Court Justice Louis Brandeis’ advice that “sunlight is said to be the best of disinfectants”? (more…)
Regulation in Microfinance: Advantages and Drawbacks
Austin Harris, KF11 Rwanda
Recent fraud in Rwanda highlights the need for regulation of the microfinance industry. Regulation serves to protect the customer and ensure the soundness of financial markets. Microfinance regulation, however, can be a complex and costly process. Though these rules and supervision of the industry have their evident advantages, they may also increase the cost of borrowing and impede microfinance services to the poor. The advantages of regulation also have their notable drawbacks.
Continue Reading 16 July 2010 at 02:55 austinharris 2 comments
This blog is not about the relief efforts in Haiti.
By Magdalena Malinowska, KF11 Dominican Republic
It’s about micro-lending. Is providing credit to small businesses in the poorest country in the Western Hemisphere even a possibility? Well, it’s actually a reality, and one that’s old news! The Dominican non-profit MFI, Esperanza Internacional, has been working on helping Haitians break the cycle of poverty since it expanded its operations there in May of 2006.
Continue Reading 14 July 2010 at 21:50 Magdalena Malinowska 3 comments
