Have you visited SaveAct in KZN Milford? 30,000 plus members in about 1,500 groups. Very sustainable and very profitable for the owner members (who only lend to each other). Of course, it doesn’t get car factories built but offers a very high degree of self-managed social protection. Which matters.
Hugh Allen
From: MicrofinancePractice@yahoogroups.com [mailto:MicrofinancePractice@yahoogroups.com]
Sent: 09 July 2014 11:52
To: MicrofinancePractice@yahoogroups.com
Subject: [MFP] Re: Fwd: FW: Unbanked News - South Africa
Hi Jami
The Ministry of Small Business is completely new and, I heard when in Johannesburg last month, that it is finding its feet. It is currently casting around for concrete ideas about what to do to promote sustainable SMEs not microenterprises. That will take some time to do after so much previous international donor pressure/support to engage in microenterprise development, including via microfinance, which has been built into the system adn has constructed a powerful constituency of support for continuing with things just the way they are no matter that the impact has been decidedly negative. The pressure for a 'same as usual' approach appears to be coming from the usual suspects - the hugely profitable microfinance industry, well paid foreign and local consultants desperate to hold on to lucrative revenue streams 'advising' on such programs, the international donors (like the UK's DFID) who are keen not to discredit microenterprise development/microfinance for political reasons, and others. All very sad.
Milford
Posted by: "Hugh Allen" <hugh@vsla.net>
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