Microcredit is the extension of very small loans (microloans) to impoverished borrowers who typically lack collateral, steady employment, and a verifiable credit history. It is designed to support entrepreneurship and alleviate poverty. Many recipients are illiterate, and therefore unable to complete paperwork required to get conventional loans. As of 2009 an estimated 74 million people held microloans that totaled US$38 billion. Grameen Bank reports that repayment success rates are between 95 and 98 percent. The first economist who had invented the idea of micro loans was Jonathan Swift I the 1720’s Microcredit is part of microfinance, which provides a wider range of financial services, especially savings accounts, to the poor. Modern microcredit is generally considered to have originated with the Grameen Bank founded in Bangladesh in 1983. Many traditional banks subsequently introduced microcredit despite initial misgivings. The United Nations declared 2005 the International Year of Microcredit. As of 2012, microcredit is widely used in developing countries and is presented as having "enormous potential as a tool for poverty alleviation." Microcredit is a tool that can possibly be helpful to reduce feminization of poverty in developing countries.
Microfinance is a of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. Microfinance services are designed to reach excluded customers, usually poorer population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient. ID Ghana is an example of a microfinance institution.
Mercy Corps is a global non-governmental, humanitarian aid organization operating in transitional contexts that have undergone, or have been undergoing, various forms of economic, environmental, social and political instabilities. The organization claims to have assisted more than 220 million people survive humanitarian conflicts, seek improvements in livelihoods, and deliver durable development to their communities.
The Hunger Project (THP), founded in 1977 with the stated goal of ending world hunger in 25 years, is an organization committed to the sustainable end of world hunger. It has ongoing programs in Africa, Asia, and Latin America, where it implements programs aimed at mobilizing rural grassroots communities to achieve sustainable progress in health, education, nutrition, and family income. THP is a 501(c)(3) non-profit charitable organization incorporated in the state of California.
Grameen Bank is a microfinance specialized community development bank founded in Bangladesh. It makes small loans to the impoverished without requiring collateral.
Moringa is the sole genus in the plant family Moringaceae. It contains 13 species, which occur in tropical and subtropical regions of Africa and Asia and that range in size from tiny herbs to massive trees. Moringa species grow quickly in many types of environments.
Accion is an international nonprofit. Founded as a community development initiative serving the poor in Venezuela, Accion is known as a pioneer in the fields of microfinance and fintech impact investing.
Trees for Life is an international nonprofit movement, based in Wichita, Kansas, USA, that works for the empowerment of villagers in developing countries.
Improving Economies for Stronger Communities (formerly known as International Executive Service Corps) is an international economic development not-for-profit organization with headquarters in Washington, D.C. IESC was founded in 1964 by David Rockefeller, States M. Mead III, Frank Pace, Sol Linowitz, and other American business leaders. IESC has worked in sub-Saharan Africa, Europe and Eurasia, Asia and the Near East, and Latin America and the Caribbean. Geekcorps is a division of IESC.
Moringa oleifera is a fast-growing, drought-resistant tree of the family Moringaceae, native to the Indian subcontinent and used extensively in South and Southeast Asia. Common names include moringa, drumstick tree, horseradish tree, or malunggay.
Opportunity International is a 501(c)(3) nonprofit organization chartered in the United States. Through a network of 47 program and support partners, Opportunity International provides small business loans, savings, insurance and training to more than 14 million people in the developing world. It has clients in more than 20 countries and works with fundraising partners in the United States, Australia, Canada, Germany, Switzerland, Singapore, Hong Kong and the United Kingdom. Opportunity International has 501(c)(3) status as a tax-exempt charitable organization in the United States under the US Internal Revenue Code.
The United States established diplomatic relations with Malawi in 1964 after Malawi gained independence from the United Kingdom. Malawi's transition from a one-party state to a multi-party democracy significantly strengthened the already cordial U.S. relationship with Malawi. Significant numbers of Malawians study in the United States. The United States has an active Peace Corps program, Centers for Disease Control and Prevention, Department of Health and Human Services, and an Agency for International Development (USAID) mission in Malawi. Both countries have a common history and English language, as they were part of the British Empire.
Microfranchising is a business model that applies elements and concepts of traditional franchising to small businesses in the developing world. It refers to the systemization and replication of micro-enterprises. Microfranchising is broadly defined as small businesses that can easily be replicated by following proven marketing and operational concepts.
Entrepreneurs du Monde is a French international nongovernmental organization founded in 1998 and operating in ten countries of West Africa, the Caribbean and Asia.
Moringa stenopetala, commonly known as the African Moringa or cabbage tree, is a deciduous tree in the plant genus Moringa, native to Kenya and Ethiopia. A drought-resistant species, it is characterized by its bottle-shaped trunk, long twisted seed pods, and edible leaves likened to cabbage, from which its common name is derived. M. stenopetala is extirpated in the wild in Ethiopia, though still grown there as a crop on the terraces of the Ethiopian Highlands, mainly in the Konso region.
Moringa Community is a charity based in Ghana which is dedicated to improving quality of life through sustainable and locally appropriate technologies. Current work is centered on the village of Baako, where skills in woodworking and food preservation are taught in a purpose-built schoolroom.
Street Library Ghana (SLG) is a volunteer-driven, social enterprise based in Ghana that aims to improve the life chances of children and youth in vulnerable communities by addressing literacy and education issues.
Kuli Kuli Inc. is a food business based in Oakland, CA, and the first company to introduce Moringa oleifera to the USA market in the form of energy bars, powders, smoothie mixes, and energy shots. Moringa is a nutritious plant food. Kuli Kuli's CEO, Lisa Curtis, started the company after working with moringa in the Peace Corps in Niger. Kuli Kuli works with women-owned and small family farming cooperatives in West Africa, Latin America, and South-East Asia.
The Uganda National Entrepreneurship Development Institute (UNEDI) is a privately owned national resource development institution in Uganda whose focus area is entrepreneurship education, training and research. The institute provides training techniques, faculty support, consultancy, research as well as teaching and development of entrepreneurship training materials.
Paul Yeboah was an educator, farmer, permaculturist, community developer, and social entrepreneur. Yeboah founded and coordinated the Ghana Permaculture Institute and Network in Techiman, Ghana, West Africa. It is located in the Brong-Ahafo Region of Ghana. The purpose of the Institute is to build and maintain a stable food system, to take care of the local ecosystems, and to improve the quality of life in the rural areas. The GPN trains students and community in sustainable ecological farming techniques. They support projects throughout Ghana; women groups, micro-finance projects; teach growing moringa; mushroom production; alley cropping, food forests development and Agroforestry.
