(cont’d from Kiva Fellows IN the field – Part 1)' /> Continue Reading >>
For many NGO’s and even corporate offices, “the field” refers to branch offices and client meetings held outside of company headquarters. “Going into the field” is a very commonly used phrase on the Kiva Fellows blog. This broad definition applies to the work of Kiva Fellows as well, but we get to say we are “off to the field” with extra pizazz because, well – we literally go to the fields.
(You...Continue Reading >>
Neat pajamas. That was one of two things I got out of having Amoebic Dysentery last week. The other, was a new appreciation for the work that K-MET, the development corporation with a small micro-finance wing, is doing.
I had been in Kisumu, Kenya for nearly three weeks and was really starting to hit my stride when the stomach rumble that is all too familiar to my fellow fellows rudely interrupted me. I’ll leave out the nasty parts but...Continue Reading >>
To understand the interest rate that Pearl Microfinance charges its clients takes more than a brief look at a few numbers.
If you ask someone at Pearl what the interest rate is on Pearl loans, they will tell you “2.5%.” This means that there is a 2.5% per month interest rate. 2.5% interest is charged on the original loan amount rather than the balance remaining – in technical terms this is a flat interest rate rather than a declining interest rate. With a flat interest rate, over in a year, the clients would be charged 30% of the original loan size, and with the declining balance...Continue Reading >>
At 7:15am in the morning, I got into a car with my MFI’s boss and three other employees. They were headed to Kurgan-Tube, a town about 150km from the border of Afghanistan, to check out a few things at their local branch and offered me to come along. Since this would be a good opportunity to meet with a few micro-finance borrowers in that area, I jumped at the opportunity.
When I got to the branch office, one of their loan officers offered to take me to a handful of his clients that were coming to an end of paying back their loans. These are typical micro-finance customers and...Continue Reading >>
Call me a skeptic, but I’m generally not one for clichés. You know how sometimes you read about situations where even though people don’t speak a common language, yet somehow, everyone understands each other? That’s not exactly my experience in Senegal. While the official language here is French, which I speak passably, the more common language is Wolof, which is spoken by the Wolof people and increasingly, almost everyone else in Senegal, though depending on where people are from, they may speak one of a dozen other languages on a regular basis. I spend a lot of my time confused....Continue Reading >>
HKL, the MFI that I am at for my first Kiva Fellowship, has Kiva loans all over Cambodia, which means if I want to visit with a decent number of Kiva borrowers I have to do a fair amount to traveling. Last week I did my first of several week long excursions to a branch office, this time in Siem Reap. Some of you may have heard of this town before as it is the home to Angkor Wat:
Needless to say I did not complain when it was decided that this would be going...Continue Reading >>
“Be late, but get there”
This sticker, prominently displayed on the dashboard of the Mombasa bus, did not inspire much confidence that we would reach our destination in a timely manner, but it at least reassured my safety a bit more than another common sticker – “drive it like you stole it.”
Occasional Frequent maniacal driving aside, you are also most likely already aware of the fact that things in East Africa rarely operate in a way that someone from the United States (my home country) might call prompt. This has proven to be a way of life that is right...Continue Reading >>
Many people have expressed desire to see more Haiti loans. In response, I would like to explain what is currently taking place. Presently all Haiti loans must go through the Esperanza office in the Dominican Republic. This is because the Esperanza Haiti office (located in Cape Haitian) is not yet a recognized MFI. Kiva and Esperanza are working to finalize this and train staff on Kiva protocol. Not being a recognized MFI has limited our ability to post Haiti loans. BUT, I can say that starting in April (and beyond) we will begin to regularly post Haiti Esperanza loans. Instead of rushing...Continue Reading >>
One of my main roles as a fellow with SEDA in Vietnam is interviewing borrowers and then writing a journal update so that lenders can see how the borrower is doing. I have many questions that I like to ask most of the borrowers and one of my favorites is quite simple: What did you do before you started this particular business? This question is great because it really helps me learn about the person I’m interviewing; their...Continue Reading >>