General Banking Activity
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Managing Organization:
Net1
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Activity Description:
Net1 is a provider of smart card technologies and systems that create a secure and affordable transacting channel between formal businesses and the “un-banked” and “under-banked” populations of developing countries who have no or limited access to traditional banking facilities.
Net1 has developed the UEPS (Universal Electronic Payment System) that makes use of their patented FTS (Funds Transfer System) methodology to provide a fully integrated payment, switching and settlement system suitable for multiple applications and services, meeting the requirements of the un-banked and under-banked populations.
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Managing Organization:
EcoLogic Finance
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Activity Description:
EcoLogic Finance (formerly EcoLogic Enterprise Ventures) is a nonprofit offering affordable financial services to community-based businesses operating in environmentally sensitive areas of Latin America and select countries of Africa and Asia. Targeting the rural credit market, EcoLogic Finance provides loan capital to support low-income communities whose business activities foster environmental conservation and grassroots economic development.
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Managing Organization:
BancoSol
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Activity Description:
BancoSol, the world's first private commercial bank to focus exclusively on microfinance, is located in La Paz and has 35 branches throughout Boliva. Using small loans, which average about $2,100, the bank works to meet the needs of Bolivia's microentrepreneurs and small business owners. Half of the bank's clients are women. The New York Times includes some information about BancoSol in this article, Fighting Poverty With $2-a-Day Jobs. |
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Managing Organization:
Banco Bradesco
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Activity Description:
Banco Postal, an off-shoot of Brazil's largest private sector bank, has made banking available to wide swaths of the Brazilian underclass which have traditionally been overlooked by financial institutions. Banco Postal is able to cut costs and increase accessibility by providing its banking services at 5460 post offices around the country. In 2002, before Banco Postal was launched, as many as 1750 Brazilian municipalities lacked banking services. Now, Banco Postal has brought banking to 1675 of these municipalities. According the New York Times, "Banco Postal has more than three million account holders, and a third of them have taken out loans. Though most of the clients of these banks are unskilled workers with little job stability, their default rate -- 9 percent at Banco Postal, for example -- is not much higher than the market average."
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Managing Organization:
BASIX
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Activity Description:
BASIX delivers comprehensive insurance and microcredit services to individuals, groups, and external institutions to improve rural livelihoods. BASIX partners with ICICI Prudential and AVIVA to offer life insurance, with Royal Sundaram General Insurance Company for livestock insurance and ICICI Lombard for rainfall insurance.
BASIX also teams up with NGOs, government, co-operative, and private-sector agencies that to provide seed money and sector-specific skills training to rural entrepreneurs.
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Managing Organization:
Institute of Private Enterprise Development (IPED)
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Activity Description:
The Institute of Private Enterprise Development (IPED) provides business guidance, technical assistance and non-traditional credit facilities to micro, small and medium sized entrepreneurs. Its Entrepreneurial Development Centre (EDC), Credit officers, and Continuous Improvement Committees increase efficiency and profitability through sector-specific mentoring. IPED has offices across Guyana in order to service rural areas as well as cities.
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Managing Organization:
National Bank of Pakistan
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Activity Description:
The Pakistan Mortgage Guarantee Facility, a $5 million credit enhancement program, enables participating commercial banks in Pakistan to extend mortgages to lower-income citizens, with no current access to home mortgage financing (over 80% of residents in Karachi earn less than $2 per day).
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Managing Organization:
Saiban ("shelter")
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Activity Description:
30% of Pakistanis now live in urban slums due to a scarcity of affordable housing (a shortage of 4.5 million homes in 1998).
Saiban is a market based solution that provides home ownership for urban squatters; the program builds housing developments on land it has secured and inspected, then sells the houses to the poor with reduced rates and an affordable down payment: total cost is 30% less than informal housing over 10 years.
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Managing Organization:
Kashf Foundation
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Activity Description:
Kashf began in 1996 as a microfinance institution that aims to alleviate poverty and to economically empower women from poor households in Pakistan. By September 2004 the Foundation had a network of 30 branches and more than 65,000 clients, most of whom earn between one and two dollars a day.
Kashf provides collateral-free loans (general and emergency) and savings services designed to cater for the needs of poor women. Kashf also provides accidental and life insurance and capacity training programs. These programs are organized by local Kashf centers (run by a core group of 25 women) and teach leadership, gender and reproductive health skills.
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Managing Organization:
FirstRand
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Activity Description:
Celpay, the next in a line of 'cell phone wallet services,' allows registered customers to use their cell phones for merchant transactions, monthly bill payments, and fund transfer between participating phones.
Customers registering for Celpay receive a new secure SIM card, adding a menu to their cellphones that facilitates the payments and providing access to their Celpay accounts. Money can be added to Celpay accounts via transfers from a bank account, or by depositing cash or a check at a participating Celpay partner bank.
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Managing Organization:
Pakistan Poverty Alleviation Fund
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Activity Description:
The non-profit Pakistan Poverty Alleviation Fund (PPAF) works with 56 partner organizations in 96 districts of Pakistan, as it seeks to alleviate poverty and empower the rural and urban poor, by providing them with access to resources and services.
PPAF's Credit and Enterprise Unit provides loans to partner microfinance organizations (POs) who in turn offer microcredit lending services to individual or group customers. POs must meet satisfactory performance and compliance standards, set by PPAF, in order to receive the 6-10% interest rate loans from PPAF. A PO's microcredit customers must also meet criteria established by PPAF to receive services.
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Managing Organization:
Globe Telecom
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Activity Description:
The Philippine firm Globe Telecom recently announced G-Cash service for its Globe and Touch Mobile subscribers. The 'electronic wallet' feature allows users to send and receive cash and make payments, including bill payments, donations, and online purchases, via texting.
Globe charges a flat fee of Php10.00 for any transaction below Php1,000. For transactions above Php1,000 the fee is 1% of the amount.
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Managing Organization:
Federal Reserve of India
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Activity Description:
The Kisan Credit Card Scheme extends short term credit to farmers for their cultivation needs.
This scheme allows for the purchase of inputs in a flexible, cost effective manner with very little paperwork. Farmers are also able to draw funds from any bank, not just from the one that issued them credit.
In October of 2004, the Indian Bank transitioned its Kisan Card into a Smart Card, with which farmers can purchase farm inputs and equipments, seeds, fertilisers, tractors, in additions to availing loans. Chip-based smart cards contain embedded information pertaining to land records, limit sanctioned, and amount withdrawn against bank account.
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Managing Organization:
Mann Deshi Mahila Sah Bank Ltd.
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Activity Description:
Mann Deshi Mahila Sah Bank Ltd. (MDMSB), a micro-enterprise development bank in Maharastra, India, uses an integrated approach in its efforts to promote sustainable economic growth amongst poor women in the region. In addition to providing micro-credit and savings services, MDMSB offers micro-health insurance products, training programs, women's rights lobbying, and innovative community outreach initiatives, like its Freedom Ride Girl's Bicycle program, which provides bicycles to primary schools girls at a 0% interest loan in an effort to curtail absenteeism due to transportation costs.
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Managing Organization:
iVeri Payment Technologies (Pty) Ltd
Activity URL:
www.iveri.com
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Activity Description:
Rwandan electronic transaction provider SIMTEL and South African electronic payment solution specialist iVeri have implemented the iVeri Voice mobile credit card payment system. This follows the successful implementation in 2004 of iVeri Link, an Internet based card acceptance system, at several major merchant sites in Rwanda, including Hotel Gorillas in Kigali City Centre. SIMTEL and iVeri are working together to provide internationally recognized, appropriate and highly secure payment systems in Rwanda.
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