Women's World Banking client. Joyce Wafukho is a mother of five who grew up on a farm in western Kenya. As a young woman raised in proximity to the farming business, Joyce noticed that there were no retail hardware stores in her area, and aspired to start a hardware business. In 1994, Joyce invested her entire savings to buy a small amount of inventory, and launched her business in a rented space. However, her plans for a fully-stocked hardware store were hampered by lack of investment capital, more...
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Women's World Banking client. Oyunchimeg Dendev is a seamstress and mother of five in Ulan Bator, Mongolia. In 1995 she left her low-paying factory job to start a tailoring business in her home using one manual sewing machine. She sold her products on the street, as she could not afford to rent a stall in the market. In 1996, her husband lost his job and joined her in the business. Her oldest children helped too, but without the investment capital needed to rent a vending stall, hire additional more...
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Women's World Banking Client. Sumitra, a mother of two children, lives with her husband in Ahmedabad, the largest city in the state of Gujarat, and the seventh largest in India. Nearly half of the city population lives in low-income settlements or “chawls”—one-room row houses—in unhygienic and dilapidated conditions. Sumitra runs a bottle cap recycling business. In India, the majority of soft drinks are packaged in glass bottles with metal caps. Several years ago, Sumitra began roaming t more...
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In August 2008, Women’s World Banking (WWB), the world’s largest network of microfinance institutions and banks dedicated to the economic empowerment of low-income women, and the Nike Foundation announced a new initiative to develop innovative savings products and services specifically geared toward the needs of young women and girls. With a $1.7 million grant from the Nike Foundation, WWB will design, market and deliver savings products and financial education to girls between the ages of more...
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In the last fifteen years, many African economies have begun to experience higher growth rates and increases in per capita income. High commodity prices, large-scale reduction in debt, Asian investment in the continent, and economic expansion of some of the non-oil exporting countries has helped drive this growth. However, there is still an alarming number of people living below the poverty line. Bringing financial services to this part of the population could break the poverty cycle. Sarita Gup more...
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Author: Yasmina McCarty. Marketing for Microfinance is designed as a reference guide for microfinance organizations seeking to develop their marketing capabilities. It describes in detail the steps involved in developing, implementing and monitoring a marketing strategy. It provides examples from WWB network member microfinance organizations and banks, and includes tools designed for the marketing specialist. It also briefly covers customer research, segmentation, branding, and customer care. Mi more...
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Equity bank has been named the best Micro Finance Bank in Africa. The bank emerged the top microfinance bank of the year, beating three other entries from the continent in the category during the annual African Bankers Awards ceremony held in Washington DC, USA. The honor bestowed on the bank on the eve of the World Bank and International Monetary Fund finance ministers' annual meeting goes to the micro finance lender who has contributed most to reduce poverty in Africa. The awards,
started las more...
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