Wednesday, July 9, 2014

[MFP] Re: Fwd: FW: Unbanked News - South Africa

 

 
Mr Lasenko, I'm all for trying new things (policies), but when you find they do not work the sensible thing is to learn as much as you can from your mistakes and move on to new policies and programs. Not with microfinance though, which remains popular for reasons other than the (failed) economics. Mr Lasenko then states confidently that microfinance has a positive impact in terms of 'financial inclusion' but no concrete evidence has ever been provided by him or anyone else to substantiate this important point. I notice that there was a conference in Mexico recently at which the Mexican government, IMF and other international donors all generously praised financial inclusion without ONCE mentioning the massive individual overindebtedness that seems about to bring Mexico's microfinance sector down. Daniel Rozas also picked up on this all too common omission:

http://www.e-mfp.eu/blog/mexico-leading-financial-inclusion-while-overindebtedness-crisis-brews

Such calculated and callous blindness is typical of some business-friendly governments and some of the main international development community institutions, unfortunately.


From: Ben Laseko <benlaseko@yahoo.co.uk>
To: "MicrofinancePractice@yahoogroups.com" <MicrofinancePractice@yahoogroups.com>
Cc: "Milfordbateman@yahoo.com" <Milfordbateman@yahoo.com>
Sent: Wednesday, July 9, 2014 4:37 PM
Subject: Re: Fwd: FW: Unbanked News - South Africa

I am afraid negativists like Milford Bateman would be more comfortable with a static world than try anything new  like Micro-enterprise financing  and Microfinance. Microfinance is not perfect, neither is it a panacea to poverty alleviation; BUT it has a positive impact as far as financial inclusion is concerned. Its advent revolutionized the financial world, we can improve from there.
Best Regards
 
Ben Laseko,
Arusha Tanzania




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