I have been invited to give a lecture on microfinance-related issues at the Small Enterprise Finance Agency (SEFA), South African government's main financing body for the MSME sector. It will take place at SEFA in Johannesburg this coming Monday, the 19th May at 10.00am till 12.00. I am very much looking forward to the event. I was specifically asked to talk about a). the reasons behind the stunning problems in South Africa that have emerged of late in connection with the microfinance model, and b). what sort of local financial institutions are now needed to replace failed conventional microfinance institutions. For sure, when even those who make a shed-load of money out of microcredit are coming clean about its disastrous impact on poor communities in South Africa, and that it is doing nothing other than 'pumping debt down people's throats', as one fund manager famously said late last year after pulling his investment fund out of the microcredit sector, you know that something is very seriously wrong. I have titled my talk: 'Moving from failed 'anti-developmental' microcredit to a 'developmental' local financial system in South Africa: exploring key institutions, problems and prospects'. Anyone in Johannesburg interested to come along should contact Natasha on natasha@tips.org.za for details.
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