GF March 2010 E-Newsletter: Volunteer Expansion, Mobile Awards & Empowering Microfinance Institutions

Grameen Foundation’s AppLab is the “Best Use of Mobile for Social and Economic Development”

The GSMA, which represents the interests of the worldwide mobile communications industry, named Grameen Foundation’s Application Laboratory (AppLab) initiative the “Best Use of Mobile for Social and Economic Development.” Grameen Foundation, Google, and MTN Uganda were honored in February at the GSMA Mobile World Congress, the mobile industry’s most influential event.  

“We are humbled by this recognition and view it as a license to work even harder to make mobile phones serve the needs of those who need them most,” said Eric Cantor, Director, ICT Innovation, Application Laboratory.  “We’re taking first steps in the right direction toward proving the potential of mobile phones to empower the poor with communication, information and knowledge – to directly improve their lives and livelihoods.” Read more [12].

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Grameen Foundation, Microfinance Leaders Help African MFIs Track Poor Clients’ Movement out of Poverty

Reinforcing our commitment to producing measurable results in our fight against global poverty, Grameen Foundation has announced a two-year initiative to help African MFIs monitor their clients’ movement out of poverty. The initiative, the first of its kind in Africa, is being facilitated by the PPI™ Users Collaborative in Africa (PUCA), a new, multi-stakeholder group that unites five charter partners with national microfinance networks.

“The PUCA initiative is laying the foundation for the microfinance sector in Senegal and Mali to collect and use poverty assessment data in the most effective way,” said Norman Buckham, Grameen Foundation’s regional CEO for Africa.  “It also enables us to demonstrate the importance of integrating social performance into the day-to-day operations of poverty-focused institutions in Africa and, equally important, to provide them with a blueprint for doing so.” Read more. [13]

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Meet Asma Akter: Grameen Foundation Scholarship Recipient

Asma Akter tends to cry from nervousness. She’s a shy 12-year-old, but the classroom is where she shines. The aspiring doctor heard about the Grameen Foundation Scholarship Program at school and decided on her own to apply.

Grameen Foundation sponsors 250 students with the Grameen Foundation Scholarship Program. This is a critical link for breaking the generational cycle of poverty. Read more stories [14] about how this fulfilling program helps us keep bright, high-achieving students in school.  

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At Grameen Foundation, Standard Chartered Conference, MFIs Learn to Attract/Manage Funding to Serve More Poor People

In February, Grameen Foundation and Standard Chartered Bank, a London-headquartered bank with over 1,600 branches and outlets in over 70 countries, hosted a conference to share with MFIs best practices for attracting and managing commercial financing. The conference, held in Nairobi, Kenya, also gave attendees the chance to network with lenders and investors. Conference attendees included chief executives and senior management from MFIs from Kenya, Uganda, and Tanzania, as well as government regulators, investors, commercial banks, and other key players in the microfinance industry.  

Professor Njuguna S. Ndung'u, governor of the Central Bank of Kenya, was the featured speaker. “The changing environments in Kenya, Uganda and Tanzania have created a significant opportunity for microfinance institutions to move beyond grants and donor funding to equity, savings and other sources of commercial financing,” said Norman Buckham, Grameen Foundation’s regional CEO for Africa. “We are pleased to work with Standard Chartered to help microfinance institutions in these key markets adapt to this changing funding landscape.” Read more [15].

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