Hi Chuck,
Thank you to point the potential in microfinance Chuck.
What can we do ? , just discus the issues? , let discuss as a start..
Best,
Frans
Sent from my BlackBerry 10 smartphone on the Telkomsel network.
| From: Jami Solli jamisolli@gmail.com [MicrofinancePractice] Sent: Tuesday, 21 June 2016 23:10 To: MicrofinancePractice@yahoogroups.com Reply To: MicrofinancePractice@yahoogroups.com Subject: Re: [MFP] Controversial blogs on Opportunity and MyBucks partnership |
Thanks Chuck for flagging this. I would have missed this otherwise.
best,
Jami
On Tue, Jun 21, 2016 at 9:36 AM, Chuck Waterfield chuck.waterfield@gmail.com [MicrofinancePractice] <MicrofinancePractice@yahoogroups.com> wrote:
Dear colleagues,Back in November 2015, there was a rather quiet announcement about how Opportunity had sold six of its African banks to MyBucks.com, a fintech lender coming out of the South African payday lender environment. In several African countries, MyBucks lends at 30% and 40% a month to those who can prove employment. It seemed a problematic partnership to many of us, but there was virtually no public discussion.That silence has been broken.Three weeks ago, the CEO of Opportunity, Vicki Escarra, did an interview with NextBillion to discuss the sale:That has been followed up today by two blogs. One of them, written by me, expresses concerns about the financial status of the banks and the practice of MyBucks:A second, written by Daniel Rozas and Gabriela Erice Garcia, reviews the positive and negative and ends with an optimistic note:I'd strongly encourage you to read through all of this material and enter into the discussion. It is one of the most significant microfinance news events of recent years, it potentially foreshadows directions the industry is moving in, and it has been completely ignored by all of us. That needs to change.Chuck Waterfield
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Posted by: Frans Purnama <franspurnama@yahoo.com>
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