||Like it? PLEASE +1 it! Thanks!|
V. Non-Material Benefits of Microfinancing
Microfinance initiatives offer more than just material benefits; they can also address
issues associated with "non-material" poverty, which includes social and psychological effects
that prevent people from realizing their potential. Microfinance initiatives individually and
collectively empower people. A steady income, a savings account, training, and the discipline to
honor loan repayments usually raise the self-esteem and status of clients, in societies where they
are often treated as second-class citizens. MFIs often utilize microfinance groups to provide
training in financial management, legal rights, business management, as well as other supportservices.
Principles of collective organization and solidarity empowered people to bargain for
higher wages, better work conditions, health services, child-care, and common forms of
insurance to protect their lives and livelihoods.
MFI participants, especially women, are often empowered to speak out more, assume
leadership roles, and address issues beyond their workplace, such as domestic violence. For
many women, the group is the first opportunity to meet formally with other women to discuss
problems and develop joint action. The groups serve as a channel of information. For example,
members may tell each other about counseling services that have been established for women
victims of violence and drug and alcohol addicts. Many women participants experience a change
in their household and community status. Some experience an increase in financial
responsibilities when their husbands noticed that they are involved in lucrative activities.
Microfinance in Africa: Combining the Best
Practices of Traditional and Modern
Microfinance Approaches towards
Related ArticlesCREDIT CRISIS SOLUTION FOR SMALL BUSINESS OWNERS
IV. Introduction - MICROFINANCE IN AFRICA: THE MODEL
IV. Module II: Linking Microfinance to Poverty Eradication
Overcoming Obstacles to Your Success
Buying the Benefits
I. WHAT CAN MICROFINANCE DO FOR AFRICA?
Overcoming Obstacles to Your Success Part Two
It’s About “Them,” Not “Me”: Highlighting Your Juicy Benefits
This Motivates Readers Of Sales Letters & Emails To Take Action
Your Unique Selling Point
Create a Powerful Marketing Story in Three Steps
Why People Buy
“Twelve Major Benefits For Being Well Organized, According To Your Strategic Thinking Business Coach”
Develop Your Positioning Statements
Mental Health Benefits Update
The Difference Between A Capital Lease and An Operating Lease
The Benefits Of A Work At Home Internet Business
You Can’t Handle The Truth…But They Can! - Insurance Sales Training
Whats In It For Them
Home > African-Accounts > United Nations Economic Commission for Africa > V NonMaterial Benefits of Microfinancing > Google +
Free PDF Download
VI. Module III: National, Regional, and International Support
By United Nations Economic Commission for Africa
About the Author: United Nations Economic Commission for Africa
RSS for United Nations's articles - Visit United Nations's website
The United Nations Economic Commission for Africa (ECA) is the regional arm of the United Nations, mandated to support the economic and social development of its member States, foster intra-regional integration, and promote international cooperation for Africa's development.
Click here to visit United Nations's website.
More from United Nations Economic Commission for Africa
51 Determinants of diversification in Africa Economic Report on Africa 2007
23 Social Development I Economic Report on Africa 2007
52 Is it factor accumulation or total factor productivity that drives growth in Africa Economic Report on Africa 2007
32 Financing Development II Economic Report on Africa 2007
IV Principle II Prioritize Local Knowledge and Participatory Planning
Related Forum Posts
Share this article. Fund someone's dream.
Share this post and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.
By: Evan Carmichael
By: Evan Carmichael
||Like this page? PLEASE +1 it!|