IV. Principle II: Prioritize Local Knowledge and Participatory Planning
IV. Principle II: Prioritize Local Knowledge and Participatory Planning
more culturally compatible and hence sustainable with the local community. People feel more
familiar and comfortable with concepts that borrow from their own tradition; this, in turn,
improves MFI acceptance and outreach. Microfinance approaches rooted in local culture are also
more participatory because clients are more ready to identify with and thus participate in the
financial decisions and actions shaping their lives. As a result people become more invested in
and committed to the sustainability of the microfinance initiatives, assume ownership and
responsibility for their development, and become more self-reliant (Box II).
As already noted, the group methodology is an important indigenous institution.
Traditional and informal African savings and loan schemes include, Ekub in Ethiopia, Tontines
in Cameroon and Niger, Esusu in Nigeria, Susu in Ghana, Gameya in Egypt, and Sanduk in
Tunisia. These schemes are based on traditional knowledge and values, and microfinance
initiatives that build upon them can count on legitimacy, accountability, and self-enforcement.
Certainly, traditional methods need to adapt to the modern context, but while they can be
rendered more efficient and benefit from modern innovation, they should not be replaced.
When people rely and build on traditional knowledge and values, it is easier for them to go
further and learn more because their knowledge base builds on a secure foundation rooted in
their own identities and society.
IV Principle II Prioritize Local Knowledge and Participatory Planning - To learn more about this author, visit United Nations Economic Commission for Africa's Website.
Like this article? Share it with your friends
Microfinance initiatives that recognize and build upon local knowledge and tradition are
more culturally compatible and hence sustainable with the local community. People feel more
familiar and comfortable with concepts that borrow from their own tradition; this, in turn,
improves MFI acceptance and outreach. Microfinance approaches rooted in local culture are also
more participatory because clients are more ready to identify with and thus participate in the
financial decisions and actions shaping their lives. As a result people become more invested in
and committed to the sustainability of the microfinance initiatives, assume ownership and
responsibility for their development, and become more self-reliant (Box II).
As already noted, the group methodology is an important indigenous institution.
Traditional and informal African savings and loan schemes include, Ekub in Ethiopia, Tontines
in Cameroon and Niger, Esusu in Nigeria, Susu in Ghana, Gameya in Egypt, and Sanduk in
Tunisia. These schemes are based on traditional knowledge and values, and microfinance
initiatives that build upon them can count on legitimacy, accountability, and self-enforcement.
Certainly, traditional methods need to adapt to the modern context, but while they can be
rendered more efficient and benefit from modern innovation, they should not be replaced.
When people rely and build on traditional knowledge and values, it is easier for them to go
further and learn more because their knowledge base builds on a secure foundation rooted in
their own identities and society.
IV Principle II Prioritize Local Knowledge and Participatory Planning - To learn more about this author, visit United Nations Economic Commission for Africa's Website.
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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