In this issue

• Expansion in Sub-Saharan Africa
• Ox financing equals opportunity - Yibeltal's story
• Village Phone Direct project launched at Fonkoze in Haiti

Grameen Foundation expands microfinance across Sub-Saharan Africa

GF staff member Joe Mwangi-Kioi reviews procedures with ACSI management

Grameen Foundation has expanded its work in Sub-Saharan Africa by adding three new partner microfinance institutions: ACSI of Ethiopia and SEAP and DEC of Nigeria. These are the first MFIs to join our network through our Africa Initiative, which focuses on strengthening Africa's microfinance sector. The Initiative targets selected Sub-Saharan countries where we can make the biggest difference.

Through our partnership with Amhara Credit and Savings Institution (ACSI) in Ethiopia, we will provide services including linkages to capital markets and social performance management systems. ACSI is a microfinance leader in Ethiopia, and we hope that advances at ACSI will lead to enhanced opportunities for all microfinance institutions (MFIs) in Ethiopia.

In Nigeria, we are building on our successful partnership with Lift Above Poverty Organization (LAPO) by partnering with Self Reliance Economic Advancement Programme (SEAP) and the Development Education Center (DEC) to help increase the reach of microfinance to the poor. At both new partners, Grameen Foundation will provide links to financing as well as assistance to strengthen operations and improve management information systems.

While microfinance has increased its presence in Africa over the last decade, significant gaps remain to be filled in order to reach the 300 million Africans living in extreme poverty. Under the guidance of our new Africa Advisory Council, we will be partnering with other microfinance institutions that are capable of expanding their countries' microfinance sectors with Grameen Foundation's strategically placed assistance.

Next, we are moving to identify new partners in Kenya and Ghana. Ultimately, we plan to help our new partner MFIs expand their outreach by at least 350,000 clients over the next two years. But just as importantly, we hope that advances we help bring about through these partnerships will ultimately spread across microfinance in Africa, benefiting all.

Learn more about Grameen Foundation's work in Sub-Saharan Africa >

Ox financing equals opportunity - Yibeltal, client of ACSI Ethiopia

Yibeltal signs for his new loan

Yibeltal Tadele has just walked for two and a half hours to get to the Meshenti sub-branch office of Grameen Foundation partner ACSI, in the Amhara region of Ethiopia. He is here to receive his second loan, building on the success he had with the first.

To make a living, Yibeltal farms the hectare of land around his home; this is a difficult job due to weather and soil conditions in Ethiopia. More than a year ago, Yibeltal's only ox died, leaving him unable to plow his field. He needed a way to support his wife and three young children, so he borrowed 800 birr ($90) from ACSI. Yibeltal combined this with some money he had saved to purchase a new ox for 1,400 birr ($160).

Read more of Yibeltal's story >

Fonkoze Launches First Village Phone Direct Program in Haiti

Grameen Foundation partner Fonkoze has launched the first Village Phone Direct (VPD) program in Haiti. Developed in partnership with Digicel, Haiti's largest cell phone provider, the new program, FonkoSèl Aktive pa Digicel (FonkoSèl) will provide vital communications in Haiti's rural communities. With the creation of FonkoSèl, Fonkoze also becomes the second VPD "early adopter." The first program was started in the Philippines by GF partner NWTF.

The launch of FonkoSèl comes just one month after GF unveiled the Village Phone Direct Assistance Center, an online resource that will help MFIs develop VPD in their own communities by working directly with local telecom operators. The site, which was introduced during the International Telecommunications Union's "Public & Private Sectors Partnership Forum" (PPPF-Africa 2007) in Kenya, features the Village Phone Direct Manual, a discussion board, hands-on customizable templates and other information. Since going live, it has received hits from 55 countries and there have been more than 400 downloads of the VPD manual.

Our rapidly expanding volunteer base again proved invaluable in helping us to broaden our impact. Stanley Florek, a volunteer based in Seattle, was essential in helping us build the online VPD Assistance Center. We are grateful to Stanley who freely gave of his time and the expertise he has honed as COO of Advantive Corp.

Learn more about the Village Phone Direct program >

Newsbriefs

New Africa Advisory Council to guide Africa expansion: Grameen Foundation's Africa Initiative will draw on the expertise and broad ranging experience of a select advisory council formed to provide strategic guidance to the staff team. The council is chaired by GF board member Paul Maritz, who was born and raised in Zimbabwe and supports several projects in Africa. Vice-chair Willene A Johnson, a strong advocate and expert on Africa, has amongst other things been the US Executive Director of the African Development Bank. GF board member Jennifer Drogula and former board member Lynn McMullen complete the advisory council as founding members.

SAVE THE DATE! Grameen Foundation and Sing for Hope are hosting a fundraiser on Friday, October 12th, 2007 at the new Times Center in New York City to benefit the Grameen Foundation Education Scholarship Program. A vibrant group of talented artists will perform, including Monica Yunus and 12 of the most talented young opera singers from New York's Metropolitan Opera, the New York Opera and the Los Angeles Opera. Grameen Foundation board member Dr. Muhammad Yunus, Founder and Managing Director of Grameen Bank and 2006 Nobel Peace Laureate will attend and address the audience. Tickets will be available at the Grameen Foundation website in early September.

Grameen Foundation to Host Partner Forum in Bolivia: Following on the success of its 2006 High Growth Partners Forum in India, Grameen Foundation is hosting a forum for its smaller MFI partners. The conference, "Leading for Success," will bring together more than 60 practitioners from 30 MFIs across the globe to Bolivia to share learnings and forge new bonds. During the five-day event (October 29-November 2), which includes an optional field visit to one of GF's Bolivian partners, participants will focus on topics such as techniques and tools for better analyzing the different populations they serve; leadership training and development; managing their social performance; and investment readiness.

Grameen-Jameel Signs First MFI Partner: The Grameen-Jameel Pan-Arab Microfinance Company (Grameen-Jameel) has signed its first microfinance partner since it incorporated in February 2007: the Lebanese Association for Development-Al Majmoua. The second largest microfinance institution in Lebanon, Al Majmoua began offering microcredit to low-income women in 1994. Today, it provides financial services to almost 7000 small- and micro-entrepreneurs throughout the country. It is Grameen-Jameel's first partner in Lebanon; this partnership was formed almost one year after a devastating war between Lebanon and Israel affected about 2,200 of Al Majmoua's clients. With this new partnership, Al Majmoua will receive funding to introduce a new Poverty Group Loan targeted to Palestinian refugees and technical assistance to help achieve its growth plans.

Yunus named as founding member of "The Elders": Grameen Foundation board member and Grameen Bank founder Muhammad Yunus has been named to "The Elders," a group of world leaders convened by former South African president Nelson Mandela. Other members include former US president Jimmy Carter, former UN Secretary General Kofi Annan, Archbishop Desmond Tutu, former Irish president Mary Robinson, and Nobel laureate Aung San Suu Kyi. The group is developing plans to work on global issues; according to Mandela, "The Elders can become a fiercely independent and positive force for good."

Tapping Support for Microfinance in the Bay Area: Grameen Foundation executive vice president Deborah Burand and board member Lucy Billingsley will be featured speakers at a symposium hosted by the Linked Foundation on September 13 in San Francisco. They will be joined by Janet McKinley, chair of Oxfam America and a longtime GF supporter. Titled, "Microfinance: Myths, Realities & Opportunities," the symposium will be held in the midst of growing discussion about new avenues for attracting more social investors to microfinance. Other participants include Freedom from Hunger, as well as AnewAmerica and Women's Initiative, two nonprofits that work with immigrant and low-income communities in San Francisco.