RIP: Microfinance and Me
It's official.
I've made the decision to step away from Microfinance and focus on something different.
My goal -- since day 1 -- was to find some way to "give back." My journey into the world of Microfinance has been interesting, educational, adventurous and . . . frustrating.
The question that I found myself asking over and over: "How can I make a meaningful difference in Microcredit?" I couldn't come up with anything tangible or substantive.
I have faced two major obstacles:
#1) My spanish has not been good enough.
#2) The institutions I have spent time with have not been very open with me.
Moreover, and perhaps more importantly, I was not thrilled about the impact Microfinance was making.
I still believe Microfinance institutions have a role to play in development. However, I am not going to be involved -- at least not directly.
So now what? Well, I have come up with something . . . but I'm not ready to tell you just yet.
I've made the decision to step away from Microfinance and focus on something different.
My goal -- since day 1 -- was to find some way to "give back." My journey into the world of Microfinance has been interesting, educational, adventurous and . . . frustrating.
The question that I found myself asking over and over: "How can I make a meaningful difference in Microcredit?" I couldn't come up with anything tangible or substantive.
I have faced two major obstacles:
#1) My spanish has not been good enough.
#2) The institutions I have spent time with have not been very open with me.
Moreover, and perhaps more importantly, I was not thrilled about the impact Microfinance was making.
I still believe Microfinance institutions have a role to play in development. However, I am not going to be involved -- at least not directly.
So now what? Well, I have come up with something . . . but I'm not ready to tell you just yet.
posted by Howard Hunchak at 2:35 PM
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6 Comments:
Neat! Will await further development.
You used to post once/week :(
Howard was a core believer in microfinance as a vital weapon in the war against poverty. The unfortunate part is so many microfinance practitioners are in it not jus to alleviate poverty but rather to enrich themselves.
Howard was a vibrant classmate of mine who has given me the strength and courage to move ahead in the world of Microfinance. I am sure the struggle is not an easy one, but we are sure of victory.
My advice to Howard is not to loose hope, but to give it more courage. I am presently working in a Microfinance institution in Nigeria West Africa. I am doing my best to make sure Microfinance has the real impact it takes. Even denying myself all the pleasures I could get else where.
I am sure one day WE (Microfinance Proponents) will look bank and appreciate the benefits and contributions of Microfinance.
Mayowa
Dear Howard,
I can understand your view and had to some extent the impression that microfinance is essentialy commercially orientated in Morocco: and that the ethic part is secondar and the business of NGOs and not MFIs.
However, it seems that in some very disorganised financial situations that MF, when well managed, can be a tool for creating employement particularly for women there.
... but still in Morocco women involved in MF activities are "producting things" (carpets/olive and argan oil, soap etc) but it was almost always men who were selling most expensive female production and keep most of the profit gained! I hope you'll find new profitable experience and wish you all the best in Latin America or anywhere else...but definitly I think speaking the language is a key need to be able to exchange ideas and even tell what could work better according to your experience.
Best,
Laetitia
I am saddened to see Howard abort his MF venture.
hey Howard,
How are you? randomly thought about you and decided to check in to your posts. just wanted to say hi, guess what, i am in bolivia, or did i already tell you? let me know if you are here!
yiching
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